Advertising RevenueEconomic uncertainty and concerns around the consumer have impacted advertising sales, with CPG, retail, and travel sectors softening.
Pandora User BasePandora continues to lose users, challenging the company's ability to drive advertising growth, contributing to the underperform rating.
Subscriber TrendsCustomer convenience changes may spur near term churn: Management expects overall self-pay subscriber trends in the first half to be weaker in part due to the click-to-cancel changes.