Spotify's Podcast Success Is "Almost Too Good to Be True" [The Motley Fool]
Spotify Technology S.A. Ordinary Shares (SPOT)
Last spotify technology s.a. ordinary shares earnings: 4/29 06:00 am
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Source: The Motley Fool
Spotify's Podcast Success Is "Almost Too Good to Be True" Podcasts are going to be a big part of Spotify's future. Spotify ( NYSE:SPOT ) added more subscribers than expected in the third quarter, and management says its investments in podcasts is one of the big reasons why. "For music listeners who do engage in podcasts, we are seeing increased engagement and increased conversion from Ad-Supported to Premium. Some of the increases are extraordinary, almost too good to be true," management wrote in its letter to shareholders. And engagement is growing. Spotify says podcast hours increased 39% quarter over quarter, and 14% of all monthly active users listen to podcasts on the streaming service. Podcasts are essential to Spotify's future growth and profitability. Outgoing CFO (and former Netflix ( NASDAQ:NFLX ) CFO) Barry McCarthy even went so far as to say, "Streaming was to Netflix as podcasting is to Spotify," during the company's third-quarter earnings call . So far, Spotify can't
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News
- Spotify CEO says layoffs brought 'more' disruption than expected but were 'right strategic decision' [FOX Business Network]FOX Business Network
- Spotify Technology S.A. (NYSE: SPOT) had its price target raised by analysts at Guggenheim from $290.00 to $350.00. They now have a "buy" rating on the stock.MarketBeat
- Spotify Technology S.A. (NYSE: SPOT) had its price target raised by analysts at HSBC Holdings plc from $310.00 to $355.00. They now have a "buy" rating on the stock.MarketBeat
- Spotify Technology S.A. (NYSE: SPOT) had its price target raised by analysts at Bank of America Co. from $315.00 to $370.00. They now have a "buy" rating on the stock.MarketBeat
- Spotify Technology S.A. (NYSE: SPOT) had its price target raised by analysts at Barclays PLC from $335.00 to $350.00. They now have an "overweight" rating on the stock.MarketBeat
SPOT
Earnings
- 4/23/24 - Beat
SPOT
Sec Filings
- 4/25/24 - Form 144
- 4/25/24 - Form 144
- 4/24/24 - Form 144
- SPOT's page on the SEC website