Updated May 12, 2018 11:25:16 Pandora, the company that makes the popular Pandora radio service, is expected to hit 4 million active users by the end of this year.
That’s up from just over 1.5 million the company had forecast in a recent report.
Pandora is expected have a revenue of $50 billion this year, up from $37 billion last year.
The company also has plans to expand into new markets, including Mexico.
Pandora’s subscriber base includes people who are streaming music through the company’s app, as well as those who use the service to access a variety of other services, such as Spotify, Pandora Radio, Pandora Music, YouTube, and Netflix.
The service has about 3 million paying subscribers, but the company also plans to have more than 3 million new paying subscribers this year and some in the next few years.
Pandora CEO Patrick McWilliams said the service is already benefiting from the increased traffic.
Pandora has had a significant growth rate for the last year, and we have been able to grow and grow as a company, McWilliams told reporters at a conference last week.
Pandora added 4.5 percent to revenue last year and revenue growth was “up nearly 50 percent year over year.”
Pandora’s total revenue was up 2.3 percent from 2016, while its operating income grew 4.6 percent.
Pandora also has been working on a new service called TuneIn, which will bring the company more in-depth and personalized information about artists and artists, McWilliam said.
The new service is expected in late 2018 or early 2019.