The number of hours users listened to Pandora through all listening media increased 14% year-over-year to 1.28 billion hours in July. However, more of these hours appeared to be tied to the ears of fewer listeners. Active listeners to the service grew 30% to 71.2 million, but total listening hours growth did not match that pace. Investors, perhaps swayed by this divergence of growth paths, had bid down Pandora shares by more than 2% in Tuesday trading. As of this writing, shares sell for a few pennies above $19.
Regardless, by Pandora's calculations, the company now controls a 7.08% share of the total U.S. radio listening audience -- about 15.5% better than one year ago.