Pandora has released its fiscal report for the fourth quarter and full year of 2016. In the full year, total consolidated revenue was $1.385 billion, a 19 percent year-over-year increase. Advertising revenue was $1.072 billion, a 15 percent increase from 2015. Subscription and other revenue added up to $225.8 million, a two percent growth. Ticketing service revenue was up 25 percent to $86.6 million. However, net loss was $343 million compared to a net loss of $169.7 million last year and adjusted EBITDA was a loss of $119.5 million, compared to a profit of $51.7 million last year.
In Q4, the fourth quarter of 2016, consolidated total revenue was $392.6 million, a 17 percent increase. Ad revenue was up by 16 percent to $313.3 million. Subscription and other revenue was $59.8 million, a five percent increase. Ticketing service revenue was $19.4 million, growing approximately 20 percent. Again, net loss for the streaming company grew, from $19.4 million in Q4 2015 to $90 million. Adjusted EBITDA was a loss of $30.4 million, compared to a profit of $24.8 million in the same quarter last year.
Total listener hours grew 0.4 percent to 5.38 billion for the fourth quarter of 2016, compared to 5.37 billion last year. Total listener hours grew by four percent to 21.96 billion for the full year 2016, compared to 21.11 billion for 2015. Active listeners were 81 million at the end of the fourth quarter, compared to 81.1 million for the same period of the prior year. Subscribers grew by 12 percent to 4.39 million at the end of 2016, compared to 3.93 million for the same period of 2015.
“We made significant progress in 2016 by driving leverage in our core business while accelerating subscriptions to our paid product,” said Tim Westergren, founder and CEO of Pandora. “We enter 2017 laser-focused on the growth of our ad-supported business, the launch and growth of our subscription products, and an artist-to-fan platform to drive listener engagement and ticket sales. These three strategic pillars operate in harmony to create mutually reinforcing revenue streams across a large and growing addressable market.”
