Pandora's Audience Shrinks, Market Share Increases

Oakland, Calif.-based Pandora Media (NYSE: P  ) continues to gain market share.

On Tuesday, Pandora announced its latest audience metrics for the month of October. Total listener hours in October were up 18% year over year to 1.47 billion hours, which was equivalent to last month's gain. The number of people listening also increased against the year-ago tally. Active listeners totaled 70.9 million at month-end, 20% more than at this time, last year.

According to Pandora's calculations, this all works out to Pandora controlling an 8.06% market share of the total U.S. radio listening audience -- a 145-basis point increase over Pandora's market share from October 2012, and 29-b.p. increase from last month. That being said, Pandora's 70.9 million listeners in October were fewer than the 72.7 million listeners who tuned in in September.

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