Oakland, Calif.-based Pandora Media is gaining ground in the U.S. radio market.
On Wednesday, Pandora announced its latest audience metrics for September. Total listener hours in September were up 18% year-over-year to 1.36 billion hours. The number of people listening also increased. Active listeners totaled 72.7 million at month's end, 25% more than at this time last year.
According to company calculations, Pandora now controls a 7.77% market share of the total U.S. radio listening audience -- a 124-basis-point increase over Pandora's market share from September 2012, and 31-b.p. increase from last month.
Pandora shares were up strongly on the news, trading up more than 4% above their Tuesday close as of this writing Wednesday morning.
The article Pandora Audience Continues to Expand originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool recommends Pandora Media. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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