Internet radio service Pandora reported Thursday a 69% year-over-year increase in Q1 revenue to $194.3 million. Advertising revenue rose 45% year over year to $140.6 million. Subscriptions and other revenue were up 94% at $39.5 million compared to the prior year.
Mobile advertising RPMs (ad revenue per 1000 ad-supported listener hours) reached $29.46 in Q1 this year in a 44% increase from the same quarter last year.
Despite this uptick in mobile, CEO Brian McAndrews said Pandora doesn’t have immediate plans to integrate programmatic mobile capabilities into its offerings, adding he “sees an opportunity in programmatic display” but the space is still “in its early days.”
Pandora instead appears to be focusing on growing its sales team (it has 100 sales people across 37 local US markets) and on driving further engagement.
Engagement is especially important: Pandora saw a 12% increase to 4.8 billion listener hours for Q1, this isn’t as much of a jump as Q4 2013, when it reported a 16% increase.