Pandora

Pandora Has Lost $1 Billion in Four Years and Is Worth Less Than Ever

Tim Ingham, writing for Music Business Worldwide:

Pandora has posted net losses of $473.6m so far in a ‘transformative’ 2017 – which has seen it part ways with CEO Tim Westergren and other top execs, as well as the sale of its Ticketfly business to Eventbrite.

Although this figure includes a one-time Q2 goodwill impairment write down of $132m related to the net assets of Ticketfly (and other one-time expenses), it’s a very alarming indication of the firm’s long-term sustainability.

As it, it doesn’t have any sustainability.

It now looks almost guaranteed that Pandora, which lost $90m in Q4 2016, will post net losses in excess of half a billion dollars in this calendar year.

That seems bad.

Jason Tate
Jason Tate Jason Tate is the founder and editor-in-chief of chorus.fm. He can also be found at @jason_tate on Twitter and on Facebook.