|Bid||0.00 x 100|
|Ask||0.00 x 900|
|Day's Range||132.03 - 136.74|
|52 Week Range||126.75 - 198.99|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||190.77|
DUBAI (Reuters) - Spotify, the world's most popular paid music streaming service, officially launched in the Middle East and North Africa on Tuesday. The company said services would now be available in ...
Spotify, the world's most popular paid music streaming service, officially launched in the Middle East and North Africa on Tuesday. The company said services would now be available in 13 Arab markets, including Saudi Arabia, the United Arab Emirates, Egypt, and Morocco but not Libya, Iraq, Syria, or Yemen. Spotify has been unofficially available in the Middle East for several years via accounts usually registered in other markets such as Europe.
Keep an eye out for the next moves by these entrepreneurs and executives. This is a rough draft of something new —provide feedback directly to the author, Eric Peckham (@epeckham), our columnist focused on the intersection of media and technology. Most notably, there are Instagram co-founders Kevin Systrom and Mike Krieger, 21st Century Fox CEO James Murdoch (with rumored plans to launch a VC firm), Beats co-founder Jimmy Iovine, VICE founder/CEO Shane Smith (who transitioned to a Chairman role), Oculus co-founder Brendan Iribe, and Oath’s CEO Tim Armstrong.
The pursuit of a two-sided business model could transform Spotify Technology SA's (SPOT) financial performance. The company has the potential to generate revenue growth from its suppliers, as well as from consumers. Deals with artists, as opposed to record labels, could increase sales and allow the company to provide complementary services such as talent management.
THE IPOD SHUFFLE is dead, but it still has ardent admirers. While Apple discontinued its tiny MP3 player in 2017, refurbished devices endure on eBay, a happy hunting ground for music fans who want to enjoy tunes without a cumbersome phone or the distractions it subjects them to. The twist is that it’s built for the streaming age: Vibe downloads playlists and podcasts exclusively from Spotify to its 8GB hard drive—four times as large as the Shuffle’s—making about 1,000 songs available offline.
Spotify seems to be focused on building stronger relationships with musicians, having added features such as easier music uploads and allowing them to submit tracks to playlist editors for consideration. It's made overtures to songwriters as well, including with its Secret Genius program and adding songwriter and producer credits. The feature, which launched in beta Thursday, offers publishers daily performance stats for "the works and recordings they have identified," including how well songs are doing on playlists (an important tool for artists who are trying to gain popularity on Spotify).
Spotify's artist dashboard already allows musicians and their managers a way to track the success of their tracks and album releases, as well as view other data about their fans. Now, the streaming music service is debuting its first analytics tool aimed at music publishers. The new tool is launching into beta this morning, and will allow publishers to track daily streaming stats, including playlist performance, and view data across all the songwriters on their roster.
The music-streaming company sold off with the market in October and kicked off November with guidance that underwhelmed investors.
Spotify is giving non-paying users access to Connect audio streaming for supported speakers and devices -- a feature previously limited to Premium members. In order to take advantage of the perk, hardware-makers will need to update to Spotify's latest SDK, allowing you to listen over WiFi instead of Bluetooth, according to The Verge. Spotify has gradually been cranking out benefits for free users, including on-demand listening in select playlists.
Spotify’s ad-supported tier has long been one of the service’s differentiators. In a press release, the company notes that free users will soon be able to stream music through Spotify Connect-sporting speakers. Here’s your standard game-changer quote, this time from Senior Product Director Michael Ericsson: “The release of our new eSDK will change the game for Spotify’s Free users who want to enjoy music on their connected speakers.
Facebook (FB) is about to give its Workplace business more autonomy, in hopes to boost the brand and customer trust in the product. Workplace, a corporate networking platform, lets employees exchange instant messages and communicate in groups. Since its launch two years ago, Workplace has operated under the same Internet domain as Facebook’s public-facing social network.
Shares of the New York Times Company fell 5.3% on Tuesday after Barclays downgraded the media company to underweight from neutral, saying investors are putting too much weight on digital net additions. "Investors appear to have transitioned to a valuation framework based on digital net adds rather than earnings. We believe this valuation transition is too premature and could force suboptimal choices on management," wrote Barclays analysts, led by Kannan Venkateshwar. Venkateshwar also cut his price target for the Times to $18 from $20, a 32% downside from the current share price of $26.46. He compared the Times's digital growth to that of Spotify , saying: "Based on certain assumptions for print, we believe the digital business at present is being valued higher than Spotify despite digital revenue growth being a fraction of Spotify. Therefore, as much as we like the digital story and believe it is likely to continue scaling over the coming years, we believe the momentum in this stock has taken valuation to levels that will need a very different trend line for growth relative to the one the company is on." Shares of the Times have gained 43% in the year to date, while the S&P 500 has gained 2.8%.
The Stockholm, Sweden-based company was founded in 2006, and the music streaming service was first publicly released in Oct. 2008. Spotify said it had 87 million subscribers and 191 million monthly active users, or MAUs, as of Sept. 30, 2018. MAUs increased from 91 million in 2015 to 123 million in 2016 to 159 million in 2017, according to Spotify's SEC filing.
Spotify (SPOT) is in a tight race with Apple and Pandora (P) for customers in the US streaming music market. Competition is particularly hot in the pursuit of premium customers—those listeners who pay ongoing monthly fees.
When Pandora (P) agreed to be bought by Sirius XM Holdings (SIRI), it was allowed a 30-day window to go out and seek alternative acquisition proposals. In the so-called “go-shop” window, Pandora was allowed to shop itself to other potential buyers besides Sirius. With the completion of the “go-shop” process, Pandora now looks to be on track to close the Sirius deal.
Hello! We are experimenting with new content forms at TechCrunch. Yuval Noah Harari, the noted author and historian famed for his work "Sapiens," wrote a lengthy piece in The Atlantic entitled “Why Technology Favors Tyranny” that is quite interesting.
Streaming device platform Roku (NASDAQ:ROKU) was once one of the hottest stocks on Wall Street. Roku stock went public at $14 in September 2017. By September 2018, it was nearly an $80 stock.
In a move aimed at boosting its falling stock price, Spotify this morning announced it would buy back up to $1.0 billion worth of stock - up to 10 million in ordinary shares. The repurchase program was authorized by the company's general meeting of shareholders and approved by the Board of Directors. The program will expire on April 21, 2021, Spotify says.
Spotify Technology SA announced Monday that it will begin repurchasing stock this quarter. The company has received authorization for up to $1 billion or 10 million shares worth of buybacks. Spotify's repurchase program is set to expire on April 21, 2021. Spotify shares are up 1.9% in premarket trading, though they're down 15% over the past month. The S&P 500 has fallen 5.6% in that time.