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home / news releases / SPOT - Spotify: Price Hike Is Bullish

SPOT - Spotify: Price Hike Is Bullish

Spotify Technology S.A.

2024-06-07 10:49:49 ET

Summary

  • Spotify reported strong growth in user engagement and revenue, with a 23% YoY increase in monthly active users and a 14% rise in subscribers.
  • The company has implemented strategic price adjustments to increase revenue without deterring new subscriptions, demonstrating strong pricing power.
  • Despite challenges in maintaining profitability, Spotify's price hikes and user engagement strategies are expected to sustain growth and improve profitability going forward.

Investment Thesis

Spotify ( SPOT ) has reported strong growth in both user engagement and revenue, with 20% year-over-year (YoY) revenue growth in Q1 2024. The company also recorded a 23% YoY surge in monthly active users ((MAU)) to bring the total to 615 million , and a 14% rise in subscribers to 239 million??. This large user base is sustained through the platform's evolving offerings, which now include music, podcasts, and audiobooks....

For further details see:

Spotify: Price Hike Is Bullish
Stock Information
Company Name: Spotify Technology S.A.
Stock Symbol: SPOT
Market: NYSE
Website: spotify.com
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