27, the company’s stock price closed the day up 8.19 at 273.

The company was founded by Daniel Ek and Martin Lorentzon in April, 2006 and is headquartered in Luxembourg. Following Spotify’s third quarter earnings report on Oct. It also serves both premium subscriber acquisition channel and a robust option for users who are unable or unwilling to pay a monthly subscription fee but still want to enjoy access to a wide variety of high-quality audio content. The Ad-Supported segment provides users with limited on-demand online access of music and unlimited online access of podcasts on their computers, tablets, and compatible mobile devices. It also offers a music listening experience without commercial breaks. The Premium segment provides subscribers with unlimited online and offline high-quality streaming access of music and podcasts on computers, tablets, and mobile devices, users can connect through speakers, receivers, televisions, cars, game consoles, and smart watches.

The company operates through the following segments: Premium and Ad-Supported. Yes, but: For the first quarter of this year, the company said it expects to add only 3 million premium subscribers, representing a growth of just 1.6% compared to its fourth quarter numbers.Spotify Technology SA is a digital music service offering music fans instant access to a world of music. It ended the quarter with 406 million monthly active users and 180 million premium, paid subscribers.It brought in €2.6 billion in revenue, up 24% year-over-year.At the end of the quarter, Spotify had 3.6 million podcasts on its platform, up from 700,000 in Q4 2019.He noted that Spotify policies are written by internal and external experts and that Joe Rogan 'also has to abide by those policies.'ĭetails: The company beat earnings and revenue projections, and continued to grow its podcast business.CEO Daniel Ek addressed the situation, saying 'the important part here is that we don't change our policies based on one creator nor do we change it based on any media cycle or call from anyone else.'.

But its performance has been overshadowed recently by a scandal over how it handles misinformation on its platform, specifically from popular podcaster Joe Rogan. Why it matters: Overall, the company did well in 2021, beating Wall Street expectations on revenue and earnings. The company expects to generate 2.09 billion euros at the midpoint of its outlook for the first quarter of 2021 and 9.21 billion euros for the full year.

Spotify shares were down more than 7% in after-hours trading Wednesday, after the company provided weak user growth projections for the first quarter of 2022.

Spotify stock projection