Spotify 🎧

Lots of useful numbers in today’s announcement e.g.

the world’s currently biggest music streaming service reported that it now has 100 million paying users (up 32 percent on a year ago) and 217 million subscribers overall in 79 markets, picking up 2 million users in India since launching there in February

but also

But earnings per share seems to have taken a big hit. The company, which is still unprofitable, posted negative EPS of €0.79 (or negative $0.88), while analysts on average were expecting only negative EPS of $0.39.

& I wasn’t aware of this before

Spotify as investor also provided an update. It noted that the value of its investment in Tencent (TME) Music is now €2.3 billion, going up €652 million in the quarter.

I’ve not heard much about their lawsuit against Apple, since Apple’s response :thinking:

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They did a 10% (I think) equity swap with TME.

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Spotify was looking great pre-market today, being up to $145 but it’s seemed to of stalled at the moment around $136. I reckon maybe was worried hands sold up while it was near the initial offering price

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Spotify entering hardware business?

https://musically.com/2019/05/17/spotify-car-thing-music-podcasts-hardware-drivers/

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Also, interesting for who may buy the 50% of universal that’s for sale

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And beyond music, Spotify has just announced it’s launching a new app.

Basically it looks like it lets you create Playlists based on artists, kind of like the Playlist radio feature right now, but with multiple artists:

It looks cool, but personally I’d quite like a stand alone app for podcasts, if they’re going to roll one out! I find podcast discovery quite hard on Spotify and still consider it my music player only.

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They are slowly rolling out this layout. Just in certain markers atm

I just wish they would pay dividends…

With such huge losses I don’t think they are there yet

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The US take 15% of dividends as withholding tax before it even reaches your account. And Spotify need that cash. I prefer US listed companies to do buybacks instead if they have the money.

They have a fantastic userbase - they just need to convert them into monthly subscribers.

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The one thing preventing me from buying…
Do they have a plan to diversify?

I don’t think their plans go beyond audio (Music and podcasts) at this stage.

What the Spotify original content move is going to be like…

… I know I’m a Spotify fanboy

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Your prayers (might) have been answered -

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They need to make a profit first

So up for this! :headphones: :raised_hands:

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Anyone know if this update live for UK premium users?

edit: is it

Hmm, I updated the app but don’t quite see this yet. It’s more prominent than before, but it’s not quite two tabs.

They have only added it the Library area of the App. Not in the Home or Search area