![]() Spotify is scheduled to report earnings on Feb. ![]() That said, revenue has been inching higher over the quarters, and is expected to bust through $2 billion for the three months ended in December. Spotify has also struggled to produce consistent profits, with losses per share outweighing gains, according to data compiled by. And, that would be bad for Spotify’s multiple and equity value.” UPDATED: Shares of Spotify took a hit after analysts at Citi downgraded the stock because the audio-streaming giant hasn’t shown any material benefit from its 800 million-plus investment in. “But, our fear is that if podcasting doesn’t provide a way for Spotify to shift away from music label dependence, the Street may reassess the underlying value of the business. “If we were to see a material positive inflection in app downloads or Premium subs (from higher gross adds or materially lower churn), we would alter our view,” Citi said. It also has exclusive rights to stream celebrity podcasts, including those from Kim Kardashian West, Michelle Obama and the Duke and Duchess of Sussex, CNBC Pro reported. Spotify acquired podcast companies Gimlet Media, Anchor and Parcast about two years ago, as well as sports and entertainment news companies The Ringer and Megaphone. The firm bumped the audio streaming service to sell from neutral on concerns about its. Spotify later: oh, huh, turns out ad revenues are tight and we just spent millions and millions for Joe fucking Rogan. By Christiana Sciaudone - Spotify (NYSE:SPOT) slumped 5 after getting downgraded at Citi. ![]() “The cadence of Premium gross additions (through 3Q20) and app download data (through 4Q20) do not show any material benefit from recent podcast investments (that began in 2019),” CNBC Pro reported Citi as saying in a note. Spotify: we're going to spend MILLIONS getting podcasts people already have access to, though we know ad revenues can be kind of tight. ![]()
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