Market Overview

Pandora Announces October 2012 Audience Metrics

Pandora (NYSE: P), the leading internet radio service, announced today new metrics that were reached in the month of October 2012.

Listener hours for Pandora during the month of October 2012 were 1.25 billion, an increase of 65% from 754 million during the same period last year. Share of total U.S. radio listening for Pandora in October 2012 was 6.55%, an increase from 4.27% at the same time last year. Active listeners were 59.2 million at the end of October 2012, an increase of 47% from 40.3 million during the same time period last year. Pandora is releasing key audience metrics on a monthly basis to provide the most current information regarding Pandora's users and usage across platforms. Because Pandora calculates radio market share using a seven-day trailing period as of the end of the month, this figure was temporarily suppressed by the effect of Hurricane Sandy. As of October 24, 2012, the company's market share was 6.75%.

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