MUMBAI: Digital radio service, Pandora, witnessed a growth of 30 per cent year on year, from total revenue of $218.9 million in Q2 2014, to $285.6 million Q2 2015. It also saw a growth in subscription revenue from $ 41.6 in Q2 2015 to $54.6 million in Q2 2015.

In the six month period, ending 30 June, the company generated total revenue of $516.3 million, which is higher compared to same period in 2014, which was at $413.2million. The Q2 2015 advertising revenue was up to $230.9 million from $177.3 million in same period last year.

For Q2 2015, adjusted EBITDA was $16.3 million and in 2014 the same period last year the adjusted EBITDA was $12.6 million, which is 29 per cent year-on-year growth. The net loss for the company has widened from $11.7 million in Q2 2014 to $16 million in same period this financial year. The loss before provision for income taxes is $15.9 million in Q2 2015.

The cost of revenue for the company has increased as well; with respect to content acquisition costs the company invested $130.1million in Q2 2015. The gross profit of the company has risen to $135.3 million in Q2 2015 compared to $93.4 million in the same period last year.

The company reported that the total listening hours grew by 5 per cent from 5.04 billion in Q2 2014 to 5.30 billion in Q2 2015. There was a rise in active listeners for Pandora from 76.4 million in Q2 2014 to 79.4 million Q2 2015.

The company spent $94 million in Q2 2015 in sales and marketing. Pandora chairman and CEO Brian McAndrews said, “Our advertising investments, particularly in local, are paying off. This quarter, local ad revenue reached an all-time high, driving record RPMs.”

McAndrews added, "Our monetisation success allows us to be an even more effective platform for helping artists grow their careers. In addition to our ability to provide insights to the entire music industry, we fuel promotion that is extremely valuable to music makers.”

In the Q3 2015, Pandora is expecting revenue in between $310 million and $315 million. The company stated that EBITA for Q3 2015 will range from $25 million to $30 million.

Projection for FY 2015 revenue stand at $1.175 billion and $1.185 billion and adjusted EBITDA is expected to be in the range of $75 million to $85 million.

In the first half of 2015, operation loss has widened from $40.7 million in H1 2014 to $64.6 million in H1 2015.

The total liabilities of the company (unaudited) as of June 2015 stand at $204.9 million. Long-term investments of June 2015 (unaudited) are at $89 million which has gone down from 104.2 million (audited) as of December 2014.