Q1 Reports: Amazon, Pandora, SiriusXM

siriusSiriusXM adds subscribers 

SiriusXM announced first quarter 2014 financial and operating results.

Net subscriber additions in the first quarter of 2014 were 266,799. The total paid subscriber base reached a record 25.8 million, up 6% from the prior year.

Revenue was $998 million, up 11% from the first quarter 2013 revenue of $897 million.

Adjusted net income was $121 million, a 46% increase over $83 million in last year’s first quarter.

• • •

amazon112310Big sales, small profit for Amazon

Amazon.com’s net sales increased 23% to $19.74 billion in the first quarter, compared with $16.07 billion in first quarter 2013.

Profit increased to $108 million in the first quarter, compared with $82 million in first quarter 2013.

Amazon introduced Fire TV, a tiny box that plugs into HDTVs for access to Netflix, Prime Instant Video, Hulu Plus, WatchESPN, Showtime Anytime, video rentals, and HBO Go by year-end. Video streams on Prime Instant Video nearly tripled year over year.

• • • •

pandora-logoDespite increased revenue, Pandora lands in the red

For the first quarter of 2014, Pandora’s total revenue was $194.3 million, a 69% year-over-year increase. Advertising revenue was $140.6 million, a 45% year-over-year increase, driven greatly by mobile advertising.

The company recorded a $28.9 million net loss, giving it another quarter in the red.

Total listener hours grew 12% to 4.80 billion for the first quarter of 2014, compared to 4.26 billion for the same period last year. Active listeners were 75.3 million at the end of March 2014, an increase of 8% from the same period last year.

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Sarah Skates has worked in the music business for more than a decade and is a longtime contributor to MusicRow.

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