Pandora Reports May Listening Hours In Final Monthly Metrics Report

Pandora Media P on Wednesday reported May listening hours. May 2014 Results The internet radio company announced listener hours for May 2014 increased 28 percent from the same month last year. Listener hours were 1.73 billion, compared with 1.35 billion in May 2013. In May, the share of total U.S. radio listening for Pandora reached 9.13 percent, a 1.84 increase from the same time last year. Active listeners also grew nine percent, from 70.8 million to 77 million. Final Monthly Metrics Report On March 6, Pandora reported that the May 2014 listening metrics will be the final monthly metrics release. The company will continue to report metrics in periodic filings and earnings calls. Shares React to DoJ News Despite positive metrics, shares of Pandora are down almost six percent in pre-market trading. Investors are reacting to recent news of the Antitrust Division of the Department of Justice reviewing documents entailing songwriter royalties.