March 29, 2023


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Stotify stocks close at all-time high-diversification

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After reaching an all-time high of 23 236 on Monday and 24 241.76 on Wednesday, shares of Spotify closed higher from Thursday – boosted by an updated Goldman Sachs review at 7 267.45 per share, raising its price target from 20 205 to 0 280.

The company has combined its recent podcast acquisitions and new advertising technology to boost its revenue and subscribers, although its most recent numbers – 130 million paid subscribers and 286 million total global users – were announced in its last quarterly revenue call at the end of April.

Nevertheless, this enthusiasm is noticeable, the share price in March was 8 118 million. The company has been in the process of acquiring a podcast in recent months, signing deals with Warner Bros. and DC for exclusive scripted podcasts, and the popular “Joe Rogan Experience” – the second in Apple Podcasts – a বহু 100 million deal with Kim Kardashian Way. -Justice is known to be one for reform.

It also doesn’t hurt that CNBC billed “Mad Money” host Jim Kramer as the “Next Netflix,” a comparison that isn’t foreign due to its investment in Spotify’s exclusive content. This music-related component was the company’s Achilles heel, which is largely owned by teams that license their content to Spotify – as a result, the three main labels, which control most of the world’s most popular music, are constantly fighting huge streams over royalty rates. Spotify, which is many years away from making a profit, has paid billions of dollars in royalties to content owners over the years.

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