Pandora Lost 92K Subscribers In Last 3 Months
During a quarterly earnings report that saw SiriusXM add 355,000 satellite radio subscribers, the company shared that it’s Pandora division had lost 92,000 subscribers in the last three months.
Spotify CEO Daniel Ek appeared to reference the ongoing decline in both subscribers and overall Pandora listeners when he declared Spotify the most popular streaming music service in the U.S. during its own Wednesday earnings call.
Pandora had only 4,000 new paid promotional subs in Q4 that did little to offset the 92,000 drop in paying subscribers. Pandora ended 2019 with 6.2 million total subscribers.
SiriusXM CEO Jim Meyer offered an upbeat Spin:
“Not only did we achieve our 10th consecutive year of 1 million-plus self-pay net additions, but we successfully completed the acquisition of Pandora Media and drove each business to record-high financial performance. Looking forward to 2020, we’re excited about a new decade of opportunity before us and confident in reiterating our guidance for the year.”