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Pandora currently obtains most of its revenue through advertisement, subscriptions, and directing users to purchase music through Apple and Amazon. dollars, a figure which has risen sharply on an annual basis since the company’s launch. In the financial year 2016, Pandora’s revenue totaled 1.38 billion U.S. In recent years, as Pandora has become more successful, the company’s revenue has reflected its broadening market. As a unique source of music, Pandora is used by almost a third of consumers monthly and almost a quarter use it weekly. Through the Music Genome Project, Pandora does not focus on genres of music, but interprets qualities of melody, harmony, rhythm, form, composition, and lyrics to determine music recommendations for its users. In comparison, Spotify hit the 100 million user mark in June 2016, although this streaming service is also available in most of Europe and South America, parts of Australasia, and various other countries in the world.
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As of December 31, 2016, Pandora boasted 81 million active users. Since its launch in January 2000, Pandora Internet Radio has vastly increased its number of active users. Currently, Pandora is only available to users in the United States, Australia, and New Zealand. The Music Genome Project uses 450 attributes to describe a song and an algorithm that organizes a wide range of music.
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Pandora Internet Radio is a part of the Music Genome Project that provides a music streaming service as well as music recommendations. The online radio platform has been suffering gradual user losses each quarter for some time, and has lost more than ten million U.S. In the second quarter of 2021, Pandora had 55.14 million monthly active users in the United States.