It’s D DAY For Pandora: 4 Stats That Should Scare Investors
Today, June 8th, is the day that Pandora must find a buyer or accept a $150 – $250 million investment under difficult terms. With the clock ticking, concerned investors have pushed the stock down to its lowest price this year. As Wall Street and potential new investors KKR and Verizon ponder Pandora's future, there are four troubling stats from a recent earnings report.
1. Just 500,000 have taken advantage of a Pandora Premium free trial
Since it launched its Pandora Premium service in mid-March, just 00.67% of Pandora's 76.7 million active users have opted in for a free trial. There were 1.3 million trial starts across all tiers last quarter.
2. 4.71 Million Paid Subscribers
That's across all of Pandora's tiers. Apple Music has 20 million paid users and 50 million pay for Spotify.
3. Listener Hours Down 310 Million
Total listener hours were 5.21 billion for the first quarter of 2017, compared to 5.52 billion for the same period of the prior year.
4. Active Listeners Down 2.7 Million
Active listeners were 76.7 million at the end of the first quarter of 2017, compared to 79.4 million for the same period of the prior year.