For the second quarter of 2014, Pandora's total revenue was $218.9 million, up 38 percent from Q2 2013. Advertising revenue was $177.3 million, an increase of 39 percent over 2013. Subscription and other revenue was $41.6 million, up 35 percent. Revenue generated from mobile is now $167.5 million up 51 percent from 2013 and now makes up 76 percent of Pandora's total ad revenue. Local advertising grew 144 percent in the quarter to $35.3 million. Pandora's (net) loss for the quarter was $11.7 million. The company also gave guidance for Q3 and expect revenue to come in between $235-$240 million which would be an increase of 39 percent over 2013. .
While the radio industry awaits a Nielsen approach to accurately measure radio's digital listening, Pandora CEO Brian McAndrews says he already has the measurements he needs to compare against terrestrial radio. At this point, it's hard to get an answer from either Nielsen or the radio-industry side as to whether, at some point in time, Nielsen will measure both Pandora's listening and all of radio's listeners -- digital and over-the-air -- so a buyer or advertiser can put those numbers side-by-side, in an easy-to-understand format, compare, and make a decision. Nielsen Audio does not currently measure Pandora; it's measured by Triton's Webcast Metrics.
Pandora's local advertising revenue is growing. In Q2 the company took in $35 million from local advertisers, an increase of 144 percent from Q2 in 2013. A big reason for the growth is Pandora's investment in salespeople. The company now has 109 sellers in 37 markets, having added 91 salespeople in the last year. Pandora's goal is 343 sellers. The $35 million in local was 20 percent of Pandora's Q2 revenue total. If you were wondering about spot loads. Pandora averaged about three units per hour in Q2, and being that they are :15's and :30's, the clutter, when compared to radio, is miniscule. Pandora will go as high as six units every hour.
CEO Brian McAndrews threw out some impressive listener stats during the conference call Thursday night. Pandora has 76.4 million active users, 250 million registered users, and over 6 billion stations have been created. Pandora has 7 million unique users through its native automotive integration, listening for about six hours per month (outside the car listeners averaged 21 hours in June) and total listener hours grew 29 percent year-over-year, to 5.04 billion. The cost for all of that listening, what Pandora calls content acquisition costs, was $111.5 million for the quarter.
It was the first radio company to go public in about a decade and it closed down from its opening price of $11.00. Townsquare wobbled between $9.93 and $10.84 before closing at $10.25 and dropping a little more in after hours trading. Volume was about 5.5 million shares. Originally the company was hoping to price the stock around $15.00.
On Thursday Temple University Athletics, along with its multi-media rights holder, Learfield Sports’ Temple Sports Properties, announced a multi-year agreement with Greater Media Philadelphia naming WPEN-FM the official home to Owls Football. Starting with the 2014 football season, "The Fanatic" 97.5 will be the new flagship station for the Owls. PD Matt Nahigian said, “This is a wonderful partnership for us. We are proud to be representing the Owls and their exciting college football program. August couldn't come soon enough!"
Emmis' Hip Hop N.Y. station HOT 97 FM will continue to be programmed by Jay Dixon. Dixon has served as interim PD since Ebro Darden vacated the position in March to focus on his morning show. GM Deon Levingston said, “Jay’s extensive knowledge of radio broadcasting and ratings, as well as his familiarity with the Emmis brand, makes him the perfect fit for WQHT. Over the past few months, Dixon has initiated innovative and creative ideas to the HOT 97 platform, further demonstrating his capabilities of leading and continuing to expand the global presence HOT 97 has in Hip Hop and music. We are thrilled to welcome him back to the Emmis family.”
Crain Media Group operates stations in Little Rock (KHTE and KKSP FM), Conway (KCNY FM), Batesville (KBGB FM), and Searcy (KWCK, KEAZ, KSMD, and K293CE FM, KRZS AM, and KAWW AM) Arkansas. Horne was the market manager for Searcy, Conway, and Batesville before being promoted to chief operating officer for all the stations. The company also announced Alan Risener is now the manager for the stations in Searcy, Arkansas, and Lynn Dyer has been appointed as LSM in Little Rock.
Jolana Leigh Smith is now the afternoon driver at Cumulus' KKPK 92.9 Peak FM in Colorado Springs. Smith is the former PD for Cumulus AC WFASFM and News/Talk WFAS-AM/Westchester which recently flipped to Urban AC (Radio 103.9). Cumulus Senior Vice President Mike McVay said, "We are assembling the best programmers in the business. Jolana is such a talent and we were lucky to be able transfer her within Cumulus. She is a part of the next generation of winning PD's."
MusicMaster has added three new employees to its growing team. Joining the company as a music scheduling consultant is former JVC PD Dave Tyler. Jeff Schroeder joins the MusicMaster team as senior technical consultant for onsite installation, technical documentation, and automation interface expertise. And Lorie Robers joins the corporate office as senior accountant. President and founder Joe Knapp, said, "The exponential growth of this company has filled me with overwhelming pride and joy. It still blows my mind that the simple music scheduling program I created over 30 years ago evolved into this huge global company with thousands of MusicMaster users in every variety of entertainment platforms across dozens of countries around the world."
Reising Radio Partners in Franklin, Indiana announced that Joanna Huff has been named co-host/producer for the morning show on WYGB “KORN Country 100.3." Broadcasting from studios in both Franklin and Columbus, KORN reaches 21 counties in South Central Indiana, including all of Indianapolis.
(By Buzz Knight) I found a cool new restaurant a couple of towns over from me called Il Casale in (Lexington, Mass). It's been open for about six weeks. It's the sister restaurant of another spot they own in Belmont, Mass. (“They” meaning chef Dante de Magistris and his brothers.) I grabbed a bite to eat there this past week after hearing a few friends rave about it and I heard a great story from a guy named Jeff who is one of the regular customers from the neighborhood.
(By Jeff Schmidt) Tracey McGrath was the new general manager at Seelye of South Haven. This was our third meeting. He had aggressive goals. Having just attended a Jim Williams seminar, I prepared an aggressive strategy that included dominating frequency on the radio stations. Twice an hour every hour every day on both stations. It was by far the biggest schedule ever presented on the stations. We were asking for $25,000 a month. In a small un-rated market, that amount is unheard of.
(By Loyd Ford) You always have the choice to be like everyone else. You can always fit in. You can always go along. But why not break out? Here are five (5) ways you can break out in your social media and find new fans, grow your influence, and enjoy more of your life “in radio”: 1. Focus your visuals on fun, entertainment, and a unique perspective. Giving a unique perspective on the entertaining side of your business will give listeners a happy-to-waste-time enjoyment of your content. This will pay dividends.
2014 marks the 15th year for what’s become one of our most popular lists. The Most Influential Women in Radio issue began in 1999, when the list of names was much shorter and those who occupied the list less influential. Today, some of these influencers will also appear on our 40 Most Powerful People in Radio list (to be released on July 28). Read about the Most Influential Women HERE.
Gary Shapiro is the president and CEO of the Consumer Electronics Association. He'll be one of the keynote speakers at the second DASH Connected Car Conference, to be held in Detroit, October 15-16. Shapiro said, "I'm excited to deliver the keynote address at the DASH Conference, a great mashup of broadcast radio, the automobile industry, and consumer electronics. As the home of global auto industry and an emerging hotbed of startups and technological innovation, Detroit is the perfect location for this meeting of the minds."
Radio Ink is pleased to announce that Mark Rosenthal, CEO of Katz Media Group, has agreed to serve as co-chair of Forecast 2015, November 19, in New York City. Radio Ink Publisher Eric Rhoads said, "Since taking over Katz, Mark has been heavily involved in the development and growth of our industry and has shown true leadership. Having his guidance on Forecast will help shape this year's program, which will have a strong advertiser focus."
If you have one, we want to hear about it. Are you killing it in digital sales, bringing local clients results using all of your digital products? Do your clients look to you as the go-to digital expert in your market? You are a rare bird in our indusrty and we want to hear about you and your story today. Call or e-mail Radio Ink Editor-in-Chief Ed Ryan at 239-247-3833 or email@example.com.
The Programming Department at your radio station is very good at telling us when they hire a new PD, morning show or afternoon drive jock. And we love to write about them. We also know how important salespeople and sales managers are. They are grinding it out on the streets with more competition than ever in an economy without a Mustang engine. We also want to brag about your sellers. Tell us all about your new sales hires, Sales Manager promotions or company award winners. Everyone loves to see their name in lights...some like the extra pat on the back more than money in their pocket. Send all the details - and a photo - to firstname.lastname@example.org