You might remember the days when "Pandora" was the only name in the game. Before Spotify became a global giant or Apple Music was even a thought, we all had those custom stations. But if you’re looking to buy pandora internet radio stock today, you’ve probably noticed something weird. The ticker symbol "P" is gone. It doesn't show up on Robinhood or E-Trade anymore.
Honestly, it's a bit of a trip down memory lane.
The Disappearance of the "P" Ticker
The short answer is that Pandora isn't an independent company anymore. Back in February 2019, SiriusXM (SIRI) officially swallowed it up in an all-stock deal worth about $3.5 billion. If you held shares of Pandora Media Inc. at the time, your stock basically transformed. You got 1.44 shares of SiriusXM for every single share of Pandora you owned.
Since then, Pandora has operated as a subsidiary. This is why you see people searching for the stock but only finding "SIRI" on the Nasdaq.
Why the merger even happened
Pandora was a pioneer. They had the Music Genome Project—a massive database where human musicologists literally ranked songs by hundreds of attributes. It was high-tech and felt like magic in 2011 when they went public.
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But there was a problem. A big one.
Royalties.
Pandora’s business model was constantly at war with the record labels. Every time someone hit "play," Pandora owed money. Unlike SiriusXM, which has a massive satellite infrastructure and a lock on the "in-car" experience, Pandora was fighting for space on your phone. When Spotify arrived with its "play any song you want" model, Pandora’s "lean-back" radio style started to feel a bit dated.
Is Pandora Still a Big Deal in 2026?
It's complicated. If you look at the raw numbers, Pandora's user base has been shrinking. At its peak, it had over 80 million monthly active users. By mid-2024, reports from Edison Research’s "Share of Ear" study suggested that Pandora’s daily reach had been cut nearly in half compared to its heyday.
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However, it's still a cash cow for SiriusXM.
The Advertising Powerhouse
Even with fewer users, Pandora is an ad-tech beast. SiriusXM uses Pandora’s ad platform, AdsWizz, to sell audio ads across a massive network of podcasts and other streaming services.
- SiriusXM Holdings (SIRI): Current stock price is hovering around $20.97 as of January 12, 2026.
- Revenue Focus: They are leaning heavily into Howard Stern (who just renewed his contract) and high-end podcasting.
- The Dividends: Unlike the old Pandora, which never paid a cent to shareholders, SiriusXM actually pays a dividend (currently yielding around 4.96%).
What Investors Get Wrong About the Stock
One of the funniest—and most frustrating—things for investors is the "Name Confusion." There is a massive jewelry company called Pandora A/S that trades in Copenhagen (and under the ticker PNDRY or PNDORA).
If you see news about "Pandora stock falling because of silver prices," that has nothing to do with the music app. That’s the charm-bracelet people.
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People also overestimate how much of SiriusXM is actually Pandora. While Pandora provides the mobile app and the free ad-supported tier, the vast majority of the company's value is still tied to those satellite subscriptions in your SUV.
The Reality of the Streaming War
Pandora tried to launch "Pandora Premium" to compete with Spotify, but it was too little, too late. Most people still use it for the free version. The "Radio" experience is great for 65+ demographics and people who don't want to build playlists, but the 13-44 age group has largely migrated to YouTube Music and Spotify.
Does that mean the pandora internet radio stock legacy is dead? No. It just means the investment thesis has changed. You aren't betting on a scrappy tech startup anymore; you’re betting on a mature media conglomerate (SiriusXM) that is trying to figure out how to survive in a world where every car has Apple CarPlay.
Your Next Steps for Investing
If you actually want to put money behind the Pandora brand, here is the roadmap:
- Look at SIRI, not P: You have to buy SiriusXM Holdings. It’s the only way to own the music service.
- Check the Yields: If you like "Value" stocks, the dividend yield on SIRI is actually quite high for a media company right now.
- Watch the Debt: SiriusXM carries a lot of debt (over $9 billion). In a high-interest-rate environment, that’s the main thing that keeps the stock price suppressed.
- Follow the Ad Market: Pandora’s health is now tied to whether companies want to buy audio ads. If the economy dips, ad spending is the first thing to go.
Ultimately, the era of "Pandora" as a standalone stock is a closed chapter. It's a component of a much larger machine now. If you're looking for that old-school growth, you won't find it here—but if you're looking for a steady media player with a decent dividend, SiriusXM might actually be worth a spot on your watchlist.