New VIP+ Analysis: The audio giant’s future outlook is worrying investors, and the company has much to prove to gain back that trust.
Spotify is the biggest streaming audio platform in the world, and its influence and reach are massive. But it’s a much more popular platform for younger consumers. Gen Z and Millennials used the service much more compared with other age groups, according to exclusive survey data provided to VIP+ by GetWizer.
Podcasts are an important part of CEO Daniel Ek’s strategy when it comes to growth at Spotify. During the past few years, Ek has focused on signing exclusive podcast deals to draw users to the platform and ultimately drive topline growth through recurring revenue with subscriptions or with ad revenue driven by users of the free version.
It’s very important to note that the latest Q4 results do not capture the impact from the Joe Rogan controversy. Any impact to the financials or user growth would be reflected in the Q1 results. To cut Ek some slack, he addressed the misinformation controversy as soon as the conference call kicked off Wednesday afternoon. And management mentioned that overall, they do not expect net subscriber adds in 2022 to differ materially from 2021. As a result, the stock recovered some of its after-hours losses.
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