![]() ![]() First, Spotify is not seeing any leverage on the gross margin line, though management promised that was coming due to its investments into podcast content and advertising. Rogan presents any kind of regrettable executive headache is laughable.Three issues may have been driving that negativity. Investors have been rattled by signals that Spotify’s growth may be slowing, particularly after Netflix’s warning of a significant cooldown in first quarter subscriber net adds (which precipitated a 24% drop in its share price).Ī New York Times piece last July, titled “Joe Rogan Is Too Big to Cancel,” included this detail: “mong top Spotify leadership, people familiar with the company say, the notion that Mr. 25, the day before Young’s catalog was pulled off Spotify. Spotify’s stock price was already on the slide - having plummeted 25% year-to-date as of Jan. Gross margin finished at 26.5% in Q4, flat versus the prior year period. Premium gross margin was 29.2% in Q4, and ad-supported gross margin was 10.8%, or flat. Operating expenses totaled €719 million, an increase of 12% year over year. Revenue of €2,689 million grew 24% year over year in Q4 (or 20% on a constant currency basis), which the company said was due to “significant strength in advertising and favorable FX movements.” Premium Revenue grew 22% to €2,295 million (or 18% constant currency) while ad-supported revenue grew 40% year over year to €394 million (34% constant currency). 2) at $191.92/share.Ĭlick here to sign up for Variety’s free Strictly Business newsletter covering earnings, financial news, and more. That’s after shared closed down 5.8% Wednesday (Feb. In after-hours trading, Spotify stock was down 10%, erasing gains from a bullish analyst upgrade earlier this week. ![]() However, it quickly recovered on Monday - not after co-founder/CEO Daniel Ek announced on Sunday that the company would institute warnings and links to health information on podcasts that talked about Covid-19, but rather after Rogan himself posted a 10-minute video in which he agreed with Spotify’s new policies and would work to bring people on his show with broader perspectives. Spotify’s market capitalization fell about $2.1 billion over a three-day span last week after Young pulled his songs from the audio-streaming giant. ![]()
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