Spotify (SPOT) Reports Acquisition of Bill Simmons' The Ringer
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Free trials boost Spotify subscribers at cost of revenue
February 5, 2020 6:46 AM ESTBy Supantha Mukherjee and Kenneth Li
(Reuters) - Spotify Technology SA on Wednesday forecast current-quarter revenue largely below analysts' estimates, as the streaming service spends more on promotions to lure listeners in its battle against Apple Music and Amazon.
Shares of the Swedish company were down 5% at $147 in midday trading.
Spotify's paid subscriptions rose a better-than-expected 29% in the fourth quarter, largely from discounted promotional plans.
The company ran several campaigns in the quarter, including a "3 months on us" intro offer for new users and a win-back offer for returning customers.
Spotify is also... More
Spotify (SPOT) Reports Q4 Revenues of EUR1.855B; Provides Q1 & FY20 Revenue Outlook
February 5, 2020 6:05 AM ESTSpotify (NYSE: SPOT) reported Q4 EPS of (EUR1.14), versus EUR0.36 reported last year. Revenue for the quarter came in at EUR1.86 billion, versus EUR1.73 billion reported last year.
Dear Shareholders,
The business continued to perform well in 4Q19. For the third consecutive quarter, total MAU growth accelerated while Subscribers, Revenue, and Gross Margin all met or exceeded our expectations. We continue to see exponential growth in podcast hours... More
Workplace app Asana files to go public, may opt for direct listing
February 3, 2020 6:34 PM EST(Reuters) - Workplace app Asana Inc said on Monday it had confidentially filed paperwork with the U.S. Securities and Exchange Commission to go public, indicating it would opt for a direct listing instead of a traditional initial public offering.
Asana would be the latest to pursue a... More
