Having a company make a U turn on a particular decision can be a welcome move or otherwise, depending on the kind of reaction that it provoked originally. Well, Pandora has plans of their own sometime next month – that is, to lift the 40-hour mobile listening limit which was first established in February earlier this year. This particular move was announced by CFO Mike Herring.
Mike Herring shared, “When we introduced the 40 hour mobile listening limit, we were confident that our scale — over 7 percent of total radio listening and Pandora’s number one ranking in most major markets — would allow us to take this action without impacting our key monetization initiatives in driving the disruption of the radio advertising market and driving our mobile advertising leadership. As our results have shown, the continued strong growth in our advertising revenue allowed us to cover the increased royalty costs with dollars left over to invest back into the business. With these tools in hand, and insight into how they work, we are resetting our levers in September.”
This means effective from September 1st onwards, there will be no more cap, so those of you who cannot live without music wherever you go, regardless of the situation, you would most probably be jumping around and whooping with joy.