in terms of mobile ad revenue. Its mobile business is growing sequentially each quarter, and in this most recent quarter was responsible for about half the company’s ad revenue. Plus, the mobile ad revenue per listener hour is growing as well—up from just $13 per 1,000 mobile listener hour to $20 for the same metric.
Kennedy pointed out that Pandora is still making three times as much money off desktop listening as it is off mobile listening, which means they’re well positioned to grow mobile monetization. Plus, Kennedy says the company is well positioned to take advantage of the mobile ad market as it grows over the next few years.
So if the company is growing market share and growing mobile revenue, why does it still expect to lose money in this current fiscal year? Kennedy didn’t address my pressing questions about the rising cost of content—content acquisition costs more than doubled from the year ago quarter to $48 million. But he did say that the company continues to invest in technology and its sales team to grow the service and its footprint.
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