![]() ![]() In addition to the company’s recent acquisitions, organic podcast revenue growth surpassed 200%.ĭisclaimer: The content on this site should not be considered investment advice. In the second quarter, ad-supported revenue increased by 110% year on year, with podcast revenue growing by 627%, according to the company. ![]() That Spotify report includes diluted earnings per. Thousands of stock photos and easy to use tools. These investments, on the other hand, are starting to pay off. Spotify (NYSE: SPOT) stock is on the move following the release of the music streaming company’s earnings report for the first quarter of 2022. If youd rather buy an already made Spotify Glass Decor Plaque, you can get them on Amazon or Etsy. Since January 1, 2020, the business has included all of these podcast costs in its cost of revenue for the ad-supported segment, which is a change from the previous year.Īdopting this accounting structure has resulted in a somewhat deceptive gross margin figure since Spotify has been trying to expand its podcast library in recent months. In fact, over the last few years, the firm has spent more than $1 billion on podcast-related purchases, including $60 million in the most recent quarter to bring the popular podcast Call Her Daddy exclusively to its platform. (NYSE:SPOT) is not the most popular stock in this group but hedge fund interest is still above average. Spotify has made significant investments in the podcasting industry. The Swedish streaming company will have 28.2 million monthly podcast listeners over Apple’s 28.0 million, a razor-thin lead that will widen in the years to come.” “Spotify will narrowly surpass Apple in that metric by the end of this year. As of right now, according to an eMarketer study, Spotify is on the verge of surpassing Apple Podcasts in terms of worldwide user base size. Since the Swedish streaming service launched its own podcast platform, it has outperformed Apple (NASDAQ: AAPL) Podcasts in several nations. Overall the analysts consider Spotify a “moderate-buy” with an average price target increase of 25.07% from its current price of $234.86. ![]() Based on the judgment of the last three months, nine TipRanks experts have recommended SPOT as a “Buy,” while four analysts have advocated to “Hold.” Interestingly two of the experts suggest “Sell.” ![]()
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