Pandora, the music streaming service, increased mobile ad revenue by 86% to $60 million in its fiscal Q2 2013. Total revenues were $101 million — meaning the company now makes a solid majority of its ad revenues from mobile devices.
However, Pandora is still losing money. The company lost $5.4 million, following a small profit the year before. Pandora's six-monthly loss rose to more than $25 million. Pandora’s financial results reflect a frequent situation in the mobile advertising sector: While companies are making progress towards increasing mobile advertising revenues, those sales increases are more than offset by sales (sales staff employment) and marketing expenses.
John Trimble, Chief Revenue Officer of Pandora (photo), will be interviewed by Rudy Rodriguez, Multicultural Marketing Director at General Mills, at our Sixth Annual Hispanic Advertising and Media Conference in New York City on September 20th. It will be interesting hear his views on the development of the mobile advertising market and Pandora’s business model.