Pandora increased its monthly active users to 54.9 million in July from 54.5 million in June. Listener hours increased to 1.12 billion — up 76% year-over-year — from 1.08 billion. Perhaps most importantly, Pandora recovered from the dip from April to June (1.1 billion to 1.08 billion) and set a new record for listener hours in a single month.
In addition, Pandora’s share of U.S. radio listening grew to 6.13% in July, up from 5.98% in June and 3.51% a year earlier. The company gets its measurements from Triton Digital and has metrics such as “average quarter hour” that are common in the radio business.
Pandora’s monthly listening hours have grown 145 million since February. The monthly tallies from February to July: 975 million, 1 billion, 1.06 billion, 1.1 billion, 1.08 billion, 1.12 billion.
Pandora’s stock reacted positively to Monday’s news, closing up 2.5% to $9.79.
( Pandora press release)
Nashville Is Most-Concentrated Music City
New York and Los Angeles are home to more musicians and music companies, but Nashville ranks first on Metro Music Index by Martin Prosperity Institute researcher Charlotta Mellander (a colleague of Richard Florida, economist and author of “The Creative Class”). Mellander built the index on data from the Bureau of Labor Statistics (which shows concentration of musicians), the U.S. Bureau of Economic Analysis (which has statistics on music and recording industry business establishments). The result is a score that shows the relative concentration of musicians and music businesses within a metropolitan area.