|Bid||147.25 x 800|
|Ask||147.74 x 800|
|Day's Range||146.43 - 148.73|
|52 Week Range||103.29 - 196.95|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Yahoo Finance's Dan Roberts, Scott Gamm, and Anjalee Khemlani discuss the Tencent Music pop after news that President Trump will be delaying promised tariffs on China.
Tesla owners in the U.S. and Canada may finally get that free Spotify Premium integration they've been requesting. Tesla CEO Elon Musk tweeted late Wednesday night that Spotify premium integration is "coming." Musk, who has talked about bringing Spotify to owners in North America before, did not provide a timeline. In other words, the music streaming service could be integrated next week or six months from now.
Spotify is set to test a price increase for its family plan, upping the costby around 13% in some Scandinavian markets, Bloomberg reports
(Bloomberg) -- Spotify Technology SA plans to sell a more-expensive version of its music service in Scandinavia, a test to see whether it can raise prices around the world, according to people familiar with the matter.Spotify will raise the price of its family plan by about 13%, said the people, who asked not to be identified because the increase hasn’t been announced. The test doesn’t mean Spotify will raise prices elsewhere or do so permanently in Scandinavia, they said. The company declined to comment.Raising prices could boost revenue in markets where Spotify already has a strong presence. The company is based in Stockholm, and its music service is the dominant player across Northern Europe. The current family plan costs about $15 a month and lets up to five people use the service. Spotify has also tested a plan called Premium Duo that offers two subscriptions for 12.49 euros ($13.91) a month.Higher prices might help placate music companies, which have complained about falling revenue per user. They’ve previously questioned why Spotify doesn’t use its market-leading position to raise rates. The average price paid by Spotify subscribers has declined for a few years because of discounts to draw in new customers and growing use of family plans.With 108 million paying customers, Spotify is the largest paid music service in the world, and it’s unlikely to surrender that crown any time soon. The company says it’s growing faster than its closest competitor, Apple Music, which also charges $15 a month for a family plan and had about 60 million customers at midyear.But Spotify still loses money. The company has been reluctant to increase prices because it’s still in a growth stage, relying on discounts to keep customers and attract new ones as people become accustomed to streaming on-demand. While the company has grown quickly, only a minority of music listeners around the world have adopted the technology, and Spotify executives have said the addressable market is at least 1 billion people.Biggest MarketsNorth America, Latin America and Europe account for more than 80% of Spotify’s customer base. The company is making a big push in Asia, where it has sold its service at low prices to compete with local players and free alternatives such as YouTube.Spotify is also under pressure from competition. It offers more or less the same product as Apple Inc., YouTube and Amazon.com Inc. -- millions of songs available on-demand, as well as playlists and podcasts.But Apple, YouTube and Amazon don’t need to make money on music. They can use their music services to profitably sell other products, whether it’s iPhones, advertising or toilet paper. Spotify doesn’t have that luxury.To contact the reporter on this story: Lucas Shaw in Los Angeles at email@example.comTo contact the editors responsible for this story: Nick Turner at firstname.lastname@example.org, Rob GolumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The battle for podcasters among music streaming services continues. A day after Spotify announced the launch of its podcast analytics dashboard, Pandora is today expanding its own podcasting efforts with the arrival of a self-service online hub for creators. The new Pandora for Podcasters will allow creators to submit their shows for inclusion on the streaming service, where they can be discovered through Pandora's show and episode-level recommendation system.
(Bloomberg) -- When Swedish banking firm Klarna became Europe’s most valuable financial technology startup last week, it was only the latest sign that digital finance has escaped the troubles afflicting legacy lenders.Its latest fundraising gave Klarna, which facilitates online installment payments, a $5.5 billion valuation. European fintech companies raised $3.3 billion in venture capital in the first half of 2019, up from $1.9 billion in the same period last year, according to data compiled by CB Insights. In contrast, an index of European Union banks has dropped 39% the past 18 months.“Investors are drawn to it because it’s the perfect blend of a huge, mature industry which, empowered by technology, can deliver vast returns, far in excess of what you see if you’re starting up out of nowhere,” said Ben Brabyn, chief executive officer of Level39, one of Europe’s largest fintech accelerators, in an interview.Here are a few other recent industry highlights and what to watch out for next.Fintechs Flout Brexit WorriesLondon fintechs defied the Brexit gloom that descended on the the U.K. Transferwise Ltd. announced a funding round in May that valued the eight-year-old company at $3.5 billion, up from $1.6 billion in 2017. A few weeks later, online bank Monzo closed a new funding round doubling the startup’s valuation to more than $2.5 billion. Meantime, Revolut Ltd., while being eyed by regulators for possible compliance lapses, expanded into stock trading. They weren’t all winners: shares of peer-to-peer lender Funding Circle Ltd. have plunged 65% this year.IZettle’s Surprise PayPal SaleIt was the midnight deal that surprised many -- PayPal Holdings Inc. purchased iZettle AB for $2.2 billion in May 2018 the night before the Swedish startup had planned to price its shares in an initial public offering. Stockholm-based iZettle competes with Twitter co-founder Jack Dorsey’s Square Inc., and Canada’s Shopify Inc.Adyen Soars After IPODutch payments processor Adyen NV hit headlines for two reasons last year. First, in February, it was announced the Netherlands-based firm would replace PayPal as EBay Inc.’s global checkout service. Then in June, it held a billion-dollar IPO and saw its shares surge 90% in the first day of trading. The company, whose clients include Netflix Inc. and Spotify Technology SA, is now valued at 20 billion euros ($22.4 billion)Worldpay’s $35.5 Billion DealAs one of the world’s biggest payments firms, Worldpay Inc. handles about $1 trillion annually -- similar to Chase Paymentech. When Fidelity National Information Services Inc. said on July 31 it’d completed its $35.5 billion acquisition of the company, data compiled by Bloomberg showed the combined business will be the world’s biggest in the processing and payments industry. It wasn’t a bad day for Ohio-based Worldpay, which less than two years earlier had been a British enterprise snapped up for 7.7 billion pounds ($9.3 billion) by U.S. merchant acquirer Vantiv.What’s Next?N26, the German mobile bank backed by billionaire Peter Thiel, announced in July it had extended its most recent fundraising round to $470 million, at a valuation of $3.5 billion. The company is expanding from Europe to the U.S., betting it can attract users from established lenders and credit card providers with free accounts, fewer fees and phone alerts.Other companies to watch include Revolut, which despite multiple run-ins with controversy remains exciting to investors after it held one of the biggest fundraising rounds for a European fintech last year, and app-based banks Monzo and Starling, which are attracting customers at a rapid clip.Further down the line is the U.K.’s online lender Zopa Ltd., which its CEO Jaidev Janardana said in July could potentially hold an IPO in 2021.“The valuations are encouraging but they’re not enough. They’re just an early indicator. The important numbers to watch are the customers,” said Brabyn. “We all need to step up to demonstrate the public value of what we do.”To contact the reporter on this story: Ali Ingersoll in London at email@example.comTo contact the editors responsible for this story: Giles Turner at firstname.lastname@example.org, Nate Lanxon, James HertlingFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Apple's iPhone users haven’t been able to use Spotify via Siri. However, that may change as the companies are reportedly in talks to allow that capability.
Chinese music streaming giant Tencent Music Entertainment (TME) reported its second-quarter earnings results after the closing bell on August 12.
Over the last couple of years, Spotify has made a big push into podcasts. The tip of the spear has been major investments, including acquisitions of companies like Gimlet and Anchor. The other great thing about podcasts for a company like Spotify is the access to a tremendous amount of free content created by third-party producers.
Culture Call is a lively, transatlantic conversation from the Financial Times about the people, events and trends that are shifting culture in London, New York and beyond. It’s hosted by us, Griselda Murray Brown and Lilah Raptopoulos. Gris is the FT’s commissioning arts editor based in London, and Lilah is US head of audience engagement based in New York.
Following recent earnings reports from Netflix (NASDAQ:NFLX) and Spotify (NYSE:SPOT) and a chance for investors to hit pause, it's time to hit play on a pairs trade by shorting NFLX stock and going long SPOT shares. Let me explain.Source: Shutterstock All trends do come to an eventual end. And for streaming video-on-demand (SVOD) giant NFLX stock and Spotify, the world's largest online music platform, emerging bearish and bullish trends have solidified on and off the price charts after each company's recent quarterly confessionals.For Netflix, the company's mid-July earnings news delivered surprisingly weak subscription data which raised competition concerns about Disney (NYSE:DIS), Amazon (NASDAQ:AMZN) and HBO owner AT&T (NYSE:T), among others. And without hesitation investors have systematically punished NFLX stock in the aftermath.InvestorPlace - Stock Market News, Stock Advice & Trading TipsOn the flip-side, SPOT stock announced both top- and bottom-line beats which featured a year-over-year 29% increase to 232 million total monthly active users. The Stockholm-based outfit also added 8 million paying subscribers, though failed to meet the company's guidance of 8.5 million. * 10 Cyclical Stocks to Buy (or Sell) Now For their part, Spotify investors took shares up as much as 4% last Friday in the immediate aftermath of the report. However, unable to tune out an increasingly bearish market, SPOT bulls only managed to eke out a gain of 0.45%.The good news is that those earnings are in the rear-view mirror and there's a pause of sorts on the price charts of Netflix and Spotify. Which leads us to pressing the play button and that pairs trade of NFLX stock and SPOT. Short NFLX StockNFLX stock is the short component in this pairs trade and for good reason. This week shares have broken below a bearish flag formed beneath prior support, the 200-day simple moving average and centered on the 50% retracement level of what had been a bullish-looking corrective base--until earnings throttled NFLX stock. In total, Netflix shares are now unequivocally a short until proven otherwise. NFLX Stock StrategyMy recommendation is to short NFLX stock today. With volatility elevated, a slightly looser stop-loss of 11% and reducing the size of the short makes sense. This exit attempts to avoid taking losses prematurely while shares remain under pattern resistance.The reward for allowing a bit of extra exposure is NFLX stock is positioned to move aggressively lower in the coming weeks and months. I'd look to take profits in zone support which stretches from $200 - $231. This area is backed by the December bottom, 62% retracement level dating to Netflix's three-year cycle low, whole number psychology and potentially sets up a powerful double-bottom price pattern. Go Long SPOT Stock It's been a decent year for SPOT stock, with shares up roughly 30%. And with Spotify's earnings reaction shares have affirmed this emerging bullish trend with SPOT establishing a fresh higher high pattern slightly above prior resistance. * 10 Stocks to Buy on the Trade War Dip It's not perfect price action. Shares of Spotify finished last week in a decision-based doji pattern and SPOT stock's weekly stochastics are in overbought territory. However, the ability of SPOT to hold inside the doji candle despite the broader market's own technical misgivings strongly suggests bulls are going to make good on this promising trend. SPOT Stock StrategyWith Spotify shares inside the doji pattern, but having reversed higher above lateral resistance, my recommendation is to buy shares of SPOT today to complete the pairing with the short in NFLX stock.To minimize and contain exposure off and on the price chart, setting a stop about 1% beneath the doji's low makes sense. In return for risk of around 7%, I'd look to take partial profits in-between $175 - $178 and double the downside. Appreciably though, SPOT stock looks like a name destined for new all-time-highs as we move through 2019's back half of play.Disclosure: Investment accounts under Christopher Tyler's management do not own positions in any securities mentioned in this article. The information offered is based upon Christopher Tyler's observations and strictly intended for educational purposes only; the use of which is the responsibility of the individual. For additional options-based strategies, related musings or to ask a question, you can find and follow Chris on Twitter @Options_CAT and StockTwits. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Internet Stocks Getting Hammered * 6 Big Growth ETFs to Buy For the Second Half of 2019 * 5 Cheap Stocks to Buy Now That the Fed Cut Rates The post Play It Again With Pairs Trade in Netflix and Spotify Stock appeared first on InvestorPlace.
The last week was rough for Spotify (NYSE: SPOT) stock. A shortfall in subscriber growth numbers announced on the earnings call disappointed the market along with a second-quarter loss of 47 cents per share. This was below an already pessimistic analyst's consensus estimate for SPOT of a 35 cents per share loss and an 81.71% increase over losses from the same period last year.Source: Shutterstock Paying subscription numbers for SPOT increased by eight million, taking it to 108 million premium subscribers, but it missed its forecast of 8.5 million new subscribers. Upon the bad news, SPOT stock dropped from $153 to $147.Credit Suisse reaffirmed its Underperform rating on SPOT stock with a target price of $120. While it has recovered back to $153, SPOT stock is still off the 52-week high of $196 from late last summer.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 5 Cheap Stocks to Buy Now That the Fed Cut Rates Despite the disappointing earnings call, now may not be the right time to bail out on SPOT stock.Here are five reasons why SPOT may deliver long term value: Podcasts and Music Market Fuel SPOT Growth1) Revenue Growth Strong: Moving away from the critical metric of growth in paid subscriber numbers, the all-important factor for investors is that the income statement for SPOT stock is strong. Total revenue was $1.85 billion in Q2, representing growth of 31% year-over-year. This top-line figure was compromised of premium revenue totaling $1.67 billion, a 31% year-over-year increase, and ad-supported revenue of $183 million up 34% from last year.2) Podcast Market Booming: Podcasts have been around for a decade with few firms being able to commercialize on the product. Spotify can. From an obscure feature available only to Apple (NASDAQ:AAPL) iTunes subscribers in the past, podcasts have experienced massive growth. SPOT has already announced a $500 million investment in their podcast product line. They are well-positioned to leverage this market. Podcasts are right at the center of the company's core strength: streaming high-value audio content.3) Global Music Market Strong: While sales of traditional CDs have slumped for over a decade, the global music market is in the middle of a resurgence led by streaming. According to Goldman Sachs analyst Lisa Yang, the global recorded music industry will double in size from some $20 billion today to a whopping $41 billion behemoth by 2030, thanks mainly to the growth of streaming.4) Spotify is Big Player: Size matters. While SPOT has formidable competition from the likes of Amazon (NASDAQ:AMZN), Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL), and Apple, Spotify has a leading market share of 40%.5) High Barrier of Entry: Not only is streaming music expected to be a hot market, but it is a maturing market in that it will be tough for any start-up to enter. SPOT is the market leader. By comparison, its next-largest competitor, Apple Music, has only about half the subscriber base. Amazon, the third-largest player in the streaming music market, could simply give away their streaming service for free. Amazon-ized Market UnlikelyA similar scenario threatened the traditional book publishing industry a decade ago when AMZN announced they would be entering the publishing business. Amazon's publishing strategy was to launch their Kindle Book reader, attract established and new authors, offer them higher royalties, and sell everything in e-book format at a far lower price than traditional paper books. A decade later, the traditional book publishing business is still in business - albeit with a restructured operating model.Streaming is a growing market which is unlikely to become an Amazon-monopolized market. SPOT is well-positioned to leverage their core expertise, size, status, existing subscriber base, and sole commitment to commercializing audio content.Last week's announcement for SPOT may have been bad. However, in the longer run, SPOT looks like a buy.As of writing, Theodore Kim does not hold any position in any of the above-mentioned stocks. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Internet Stocks Getting Hammered * 6 Big Growth ETFs to Buy For the Second Half of 2019 * 5 Cheap Stocks to Buy Now That the Fed Cut Rates The post 5 Reasons to Buy Spotify Stock appeared first on InvestorPlace.
(Bloomberg Opinion) -- Lyft Inc.’s rocky road as a public company should be a warning for other highfliers hoping to hit it off with stock investors. It is ugly out there for the elite startup superstars. Lyft said in its second-quarter earnings report on Wednesday that the rate of revenue growth slowed less than it had forecast and that losses weren’t as bad as investors expected. Still, even the company’s slightly raised forecast for 2019 revenue growth of as much as 62% would represent a comedown from last year, when Lyft’s revenue was doubling or more year-over-year. Both Lyft and rival Uber Technologies Inc. are posting slowing growth at the same time they’re telling investors that they’re just barely scratching the surface of their potential. Lyft shares were initially higher in after-hours trading following the release of the earnings report but then retreated.(1)Questions about Lyft’s slowing growth, high losses and the general viability of on-demand transportation have pushed its share price far below the $72 at which the company sold stock in its initial public offering in March. Shares of Uber have also been underwater since its IPO. And those two are far from alone in their misery.For all the hype about the post-2008 class of high-profile, highly valued and highly disruptive technology startups, many of the biggest “unicorns” that have gone public so far have been stinking up public stock markets like a skunk waddling into a picnic. In addition to the decline in shares of Uber and Lyft, the prices for Snapchat, Dropbox Inc., Spotify Technology SA and China’s Xiaomi Corp. and Meituan Dianping are also below their IPO levels. For many of the top tier of richly valued young technology companies, the early message from public investors has been clear: If the company’s business model is a string of question marks and there are few public precedents and high losses, stock buyers are not greeting them with open arms. The lackluster performance of the unicorn elites isn’t a great setup for WeWork Cos., Postmates Inc., Didi Chuxing Inc. and others in the crop of still-private startup elite edging to go public soon, with even-bigger-than-Uber-sized doubts about their viability and wild valuations. Many more richly valued startups remain private, so it’s too soon to call the elite unicorn crop a success or failure. But if the top-flight startups are being greeted with skepticism in the midst of an unprecedented decade-long bull market for U.S. stocks, what happens when and if market conditions deteriorate? There are notable exceptions to the public investor shunning of unicorns. Investors are crazy in love with young tech companies that sell software or other products to businesses.(2) The tier of tech startups below the richly valued elites such as Uber — think Zoom Video and Stitch Fix Inc. — have typically fared better than many of the superstars. Pinterest Inc., the online scrapbook, has a familiar advertising-based business model, seems to be managing itself well and has a share price that reflects hopes rather than fears. (A familiar business model hasn’t helped the less competently managed Snap Inc. Even after a wild run-up this year, Snap shares are trading below the price at which the company went public in early 2017.) Even with the declines, there probably aren’t many regrets among the early backers of the elite unicorns. Investors who bought shares of companies such as Lyft and Snap early in their lives have made a fortune. Even stock buyers who bought at significantly higher prices soon before the IPO may feel fine about the investments because they were adding to stakes built earlier or they were making relatively small starter investments for giant investment funds.(3)This underscores why the last decade of startup investing has been so odd. It has been economically rational for investors to pour money into young companies and prod them to grow as big and fast as possible. Even when those startups aren’t home runs if they become public companies, those early backers have done fine, or far more than fine. There are few losers, then. The early backers of elite startups are in the black. Buyers of public stocks can shun the young companies if they are too speculative once they go public. It’s all good — except for the startups themselves, perhaps. They are the ones under the most pressure to figure out how to thrive far into the future. (1) Investors seemed a bit spooked by the company's early end to restrictions on insiders to sell Lyft stock. The company's shares are heavily shorted, which tends to exacerbate stock movements.(2) Slack Technologies Inc. may be trading below its first stock sale in its non-IPO earlier this year, but it has generally been greeted warmly and its stock trades at a rich multiple.(3) Some of the unicorns are still underwater compared with share sales from years ago. Dropbox's per-share price now is lower than private purchase of company shares from 2014. Uber's stock is about even with the the level of 2015 share sales. Snap stock price isn't much higher than private share transactions two and a half years ago.To contact the author of this story: Shira Ovide at email@example.comTo contact the editor responsible for this story: Daniel Niemi at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Shira Ovide is a Bloomberg Opinion columnist covering technology. She previously was a reporter for the Wall Street Journal.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Almost nobody makes unicorns quite like Sweden. Spotify, Mojang, King, iZettle — all are examples of billion-dollar companies born in Sweden that have made Stockholm the world’s biggest unicorn factory ...
Spotify (SPOT) has reportedly joined hands with mobile carrier AT&T; (T). The partnership seems to be a good deal for both companies.
(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Tencent Holdings Ltd. plans to buy 10% of Universal Music Group from Vivendi SA in a deal that would value the world’s biggest music company at $34 billion and help it tap fast-growing Asian markets.The discussions with China’s most valuable company will reinvigorate the French media giant’s efforts to find new partners for its most successful business. But they may also sound alarms in the U.S., the world’s biggest music market, amid a deepening trade war with China.A surge in subscription music streaming has revived the fortunes of big music labels in Western markets, and Universal is now looking for further growth. Vivendi said it’s discussing cooperation with Tencent and wants the Chinese company to promote Universal’s stable of artists -- including Drake, Taylor Swift and U2 -- and identify talent in new markets.“Tencent as a partner will boost UMG’s value because of the access it provides in China,” said Vey-Sern Ling, a Bloomberg Intelligence analyst based in Hong Kong. A purely financial investor may have to pay more than Tencent would pay for its stake, Ling said. The companies are discussing a deal that would value all of Universal Music at 30 billion euros ($34 billion).Vivendi shares rose as much as 9% in early trading Tuesday and were up 6.6% at 25.6 euros as of 12:20 p.m. in Paris.Trade TensionVivendi sees little risk that the U.S. authorities could block the deal as part of Washington’s wider trade conflict with Beijing, because the Tencent stake is limited to 10% for now, two people with knowledge of the companies’ discussions said. In its statement Tuesday, Vivendi said Tencent could double its holding on the same terms within one year.The French company has struggled to draw interest from private-equity firms, and Bloomberg reported in May that Vivendi was targeting strategic buyers including Tencent. The preliminary discussions with the Chinese company are likely to stir interest from other potential partners.Streaming is helping the music industry recover from a slump caused by illegal downloading and a collapse in CD sales. Universal Music now contributes around 44% of Vivendi’s revenue. Universal Music’s sales rose by around 19% in the first half, helped by releases from artists including the 17-year-old singer Billie Eilish and the Japanese band King & Prince.What Bloomberg Intelligence Says:Vivendi’s planned sale of as much as 50% of Universal Music could yield a potential windfall of $10-15 billion, with a large chunk of any proceeds probably directed toward a share-repurchase program that’s already set for a big boost.-- Matthew Bloxham, media analystClick here for the researchTencent, China’s largest social-media company, is also big in streaming. Last year it floated its Tencent Music Entertainment Group, whose growth in China mirrors that of Spotify Technology SA in the U.S. and Europe.While Spotify relies heavily on paid subscriptions, last year Tencent Music generated 71% of its revenue from a category called “social entertainment” -- things like online live music and interviews with celebrities. Tencent already works with Universal Music on distribution and marketing in China under a cooperation deal sealed in 2017.“Having a toe-hold in Universal would allow Tencent to ensure Universal’s content is always available to TME and even to Spotify, in which Tencent owns a stake,” said Sumeet Singh, an analyst with Singapore-based Aequitas Research.Universal Music’s growth has helped offset a weaker performance at Vivendi’s other businesses. The company’s market value at Monday’s close was 29.2 billion euros, less than the music unit’s equity value of 30 billion euros implied by the Tencent deal. Other Vivendi units include Havas SA, an advertising group, and the broadcaster Canal Plus.Vivendi’s board and its biggest shareholder, French billionaire Vincent Bollore, “continue to be steadfast supporters of our strategy, our work and our teams,” Universal Music’s Chief Executive Officer Lucian Grainge told staff in a memo seen by Bloomberg News and confirmed by a company spokesman.(Adds context throughout.)\--With assistance from Gaurav Panchal, Stefan Nicola, Zheping Huang, Angelina Rascouet and Cecilia Esquivel.To contact the reporters on this story: Thomas Pfeiffer in London at email@example.com;Angelina Rascouet in Paris at firstname.lastname@example.orgTo contact the editors responsible for this story: Rebecca Penty at email@example.com, Paul SillitoeFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
In an effort to bring in more Premium subscribers, Spotify (SPOT) has announced it’s teaming up with AT&T (T) to court the mobile carrier’s customers.