Pandora Media, LLC Due Diligence

Run due diligence on Pandora Media, LLC: check compliance and get alerts when suppliers or ownership change.

United States · owned by SiriusXM (United States) · pandora.com · 28 vendors

Pandora is the largest ad-supported audio entertainment streaming service in the United States, offering personalized music and podcast listening experiences powered by its proprietary Music Genome Project® and Podcast Genome Project® technologies. It also operates as the leading digital audio advertising platform in the U.S., connecting brands to streaming audio audiences through its own service, its AdsWizz platform, and third-party services like SoundCloud. Pandora is available via mobile app, web, and integrations with more than 2,000 connected products.

Resilience scores

Technology vendors

Insights

Last updated 2026-10-20 · revision 3

28 direct vendors, 295 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Compliance

9 in-scope frameworks identified; showing 3.

CPRA — Evidence found

Pandora Media, LLC operates in California and processes the personal information of California residents, making it subject to the California Consumer Privacy Act (CCPA) and the California Privacy Rights Act (CPRA).

Evidence: https://openli.com/community-posts/pandoras-handling-of-data-subject-rights, https://us.pandora.net/en/privacy-policy/privacy-policy.html, https://help.pandora.net/s/privacy-policy?language=es_US, https://growjo.com/company/Pandora, https://en.wikipedia.org/wiki/Pandora_(service), https://www.siriusxmmedia.com/insights/pandora-connects-listeners-to-music-and-audiences-to-brands

CAN-SPAM — No public evidence

As a US-based company that likely sends commercial emails to its users, Pandora Media, LLC is subject to the CAN-SPAM Act.

GDPR (source) — Evidence found

Pandora Media, LLC processes the personal data of individuals in the European Union/European Economic Area, making it subject to the General Data Protection Regulation.

Evidence: https://openli.com/community-posts/pandoras-handling-of-data-subject-rights

Financials

Three-year financials

Financial Resilience Score: 6/10

Pandora Media, LLC operates as a wholly-owned subsidiary of SiriusXM since 2019 and does not file standalone financials. The 'Pandora and Off-platform' segment has generated essentially flat revenue (~$2.1B) for four consecutive years, with gross margins stable at ~30-31% and gross profit of $670M in FY2025. The segment benefits from parent SiriusXM's strong consolidated free cash flow ($1,256M in FY2025) and integrated ad-sales infrastructure (SiriusXM Media), providing financial backing and operational support. However, resilience is weakened by chronic erosion of the Pandora user base: monthly active users declined from ~55.9M in Q1 2021 to 41.1M by year-end 2025, and subscriber revenue fell 3% in FY2025. The parent company recorded a large goodwill impairment in FY2024 that drove consolidated operating income to -$1.52B and net income to -$1.67B, signalling that the goodwill from the 2019 Pandora acquisition had to be written down. Rising CRB-set music royalty rates (climbing to 15.35% of revenues by 2027) add structural cost pressure. The ad business is being propped up by podcasts and programmatic while core streaming music ad demand is soft. Early 2026 showed first growth quarter in some time (+3% YoY in Q1 2026), suggesting potential stabilization.

Key strengths: Stable ~$2.1B segment revenue for four consecutive years, Gross margin stable at 30-31%, gross profit $670M in FY2025, Parent SiriusXM generates $1.26B free cash flow supporting investments, Integrated ad-sales via SiriusXM Media reaching ~160M monthly listeners, Diversified ad revenue mix with growth in podcasts and programmatic, Q1 2026 showed return to growth (+3% YoY)

Risk factors: Chronic MAU decline from ~55.9M (Q1 2021) to 41.1M (YE 2025), Subscriber revenue fell 3% in FY2025 on shrinking subscriber base, Parent goodwill impairment in FY2024 drove consolidated net loss of -$1.67B, Rising CRB-set music royalty rates climbing to 15.35% of revenue by 2027, Reduced advertiser demand in streaming music, Geographic concentration almost entirely in the United States, No standalone operating income/EBIT disclosure limits transparency

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