15% Of Pandora’s 100M Users ‘Intend’ To Upgrade To Paid Premium
Pandora has told shareholders that it projected signing up 6 – 9 million paid subscribers to its newly launched Premium on-demand streaming service in 2017. But a survey of users suggests that the number could be much higher.
15% of Pandora's 100 million monthly free streaming customers intend to upgrade to its paid service this year, according to a survey by Piper Jaffray analyst Stan Myers.
The analysis led Myers to raise his forecast for Pandora stock of $18 per share. Pandora stock [P] was trading around $11.80 on Friday afternoon.