Slacker lures 6 million new listeners, makes profit on both free and paid users
When Slacker launched its big software overhaul in February, many were skeptical that a refresh could bring it back to prominence. Apparently, all that doubt was misguided: Slacker says it's racked up 6 million new listeners in the past three months, 3.5 million of which are on mobile. They're more involved, too -- there are 100,000 new paying customers, iOS installs have tripled and members of all kinds tune in for an average of 25 percent longer. And did we mention that Slacker may even benefit from the rush? Where some peers face a constant fight to stay above water without enough premium customers, Slacker says both its ad-supported free radio and paid on-demand service are profitable. While there's no guarantee the company will hold on to those bedazzled new users, it's good to see renewed competition in a field with fewer and fewer participants.
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GROWING FAST; SLACKER ADDS MORE THAN SIX MILLION NEW LISTENERS SINCE FEBRUARY RELAUNCH
Mobile Explodes, Listening Time Up 25 Percent – Slacker is Gross Margin Profitable on EVERY User, Free or Paid
SAN DIEGO, May 9, 2013 – Slacker, the world's most complete music service, revealed its latest audience growth figures, pointing to the success of the company's relaunch on February 13th of this year. The complete redesign of the company's digital music service gives more and more listeners access to millions of songs and hundreds of expert-crafted stations for free. On the web, tablets, smartphones, and consumer electronics devices – and in the car.
Since mid-February, new users are coming, they're listening longer, and they're subscribing:
· More than six million new listeners joined, with 3.5 million on mobile
· People have increased average listening time by 25 percent
· Slacker is now installed on more than three times as many iOS devices
· Rocking the charts, Slacker is consistently ranked among the top three grossing apps on the App Store Top Grossing Chart
· More than 100,000 new paid subscribers have joined
"We're thrilled with the results of our relaunch; since mid-February millions of new people are tuning into Slacker, they're spending more time listening, and our paid subscriber base is growing fast," said Jim Cady, CEO of Slacker. "And with our proven business model, Slacker is the only digital music service that is gross margin positive on every listener – whether they're ad-supported or a paid subscriber."
Slacker is the most complete music service on Earth, offering streaming radio and on-demand access to a massive music library of more than 13 million songs, with new tracks added daily. A music guide and fine-tuning tools allow listeners to easily discover new music or add news, sports and talk content from ABC and ESPN. Slacker's team of expert music curators also constantly update Slacker's more than 200 genre and specialty stations so the music is always new, fresh and surprising.
Slacker is the only digital music service that has billing and distribution deals with every major North American wireless provider, including Verizon, AT&T, Sprint, T-Mobile and U.S. Cellular. In addition, Slacker is available in vehicles produced by major automotive manufacturers including Ford, GM, Chrysler Group, Acura, Honda, Scion, Subaru and Tesla.
Slacker launched its digital music service in 2010. The company has doubled its business every year. Slacker has also recently expanded its operations, opening offices in Palo Alto, CA and New York City.
