![]() So, SPOT will likely benefit from its increased spending on podcasts. The continued outperformance is currently limited only by the availability of our inventory, which is something we are actively solving for.” Also, according to an eMarketer report, podcasts are expected to account for 20% of the time spent on digital audio this year and 25% in 2023. Also, on June 18, SPOT acquired Podz, a startup that is trying to solve the problem of podcast discovery.ĭaniel Ek, the company’s founder and CEO, said in an earnings call on July 28, “And looking at podcasts, podcast revenue was up over 627% year over year or nearly 200% on an organic basis. ![]() The company also announced a multi-year agreement in June 2021 to stream the popular podcast Call Her Daddy, hosted by Alex Cooper, on its audio streaming platform. Home to the popular podcasts The Joe Rogan Experience and Bill Simmons’ The Ringer, SPOT signed a deal in May 2021 to stream Dax Shepard’s popular podcast Armchair Expert exclusively. Here are the factors that we think could influence SPOT’s performance in the coming months: Its MAUs are expected to be between 377 million and 382 million in the third quarter, and between 400 million and 407 million in the fourth quarter. ![]() Its total revenue is expected to be between €2.31 billion ($2.74 billion) and €2.51 billion ($2.98 billion) in the third quarter and between €2.48 billion ($2.94 billion) and €2.68 billion ($3.18 billion) in the fourth quarter. As a result, it has provided moderate guidance for the coming quarters. Furthermore, SPOT continues to face COVID-19 pandemic-related headwinds. In addition, it has declined 8.6% since reporting its second-quarter earnings results on July 28, due primarily to less-than-expected monthly active user (MAU) growth. ![]() However, the stock has lost 30.9% in price year-to-date and 18.8% over the past month to close yesterday’s trading session at $217.42. Also, the Swedish audiobook streaming group Storytel partnered with SPOT in May 2021. Along with strengthening its podcast offerings, the company launched Spotify Greenroom in June 2021, borrowing a page from the famous audio-chat app Clubhouse. ( SPOT ) is a leading music streaming services provider that offers roughly 70 million tracks to millions of consumers in more than 178 countries and territories. Based in Luxembourg, Spotify Technology S.A. ![]()
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