![]() ![]() Spotify’s price at publication is $153.75, with an average price target of $165.56.Īnd despite Spotify’s iffy revenue outlook, its stock remains a strong buy according to analysts consensus. In Q2 2023, it reported good subscriber estimates, but missed on profitability-with gross margin now down to 24.1%. (SPOT) has provided mixed revenue results recently. It’s the dominant platform in music streaming, “but the company has struggled to convince Wall Street that its spending spree has been worth it,” Bloomberg noted last year. Spotify, the largest audio service in the world, has more than 420 million users and about 182 million paid subscribers. The stock traded at more than $300 a share, valuing the company at more than $50 billion. By the start of 2021, about 25% of Spotify users, or roughly 86 million people, listened to podcasts on the platform. Spotify has around 5 million podcast titles, according to Demand Sage. But recent MIDiA Research indicates it could be an all or nothing deal. It’s a tough decision because it's difficult to produce a hit podcast, and Rogan’s has grown Spotify’s podcast user base. With Rogan’s Spotify contract ending within the next year, the company will have to decide if it’s worth spending more on the podcast host in order to keep him, or dissolve the exclusivity of his podcast content on the platform. So, why does this matter? Many of Spotify’s other exclusive podcast contracts have unraveled recently, and with layoffs hitting the company, Spotify CEO Daniel Ek stated the company would not “overpay or overinvest” in future podcast deals. In response, Spotify created a Safety Advisory Council and ended up removing some of Rogan’s episodes from the platform. Artists including Neil Young and Joni Mitchell left Spotify temporarily, removing their music catalogs, in response to Rogan’s podcast topics. Rogan was brought on the platform for his ability to tackle controversial topics and bring on interesting guests, but it has also raised issues for Spotify. so far this year, according to Edison Research. And as of June 2023, The Joe Rogan Experience had the biggest weekly audience in the U.S. With more than 11 million listeners per episode, according to MIDiA Research, Rogan has helped Spotify secure its spot in the podcast industry. ![]() Her show was the most popular podcast globally behind Rogan on Spotify Wrapped for 2022. Cooper’s Spotify contract is expected to end in 2024 as well, after signing a $60 million three-year deal. ![]() ![]() Not to mention Spotify’s stock saw an 8% jump the day his podcast deal with the service was announced in May 2020-which is said to have been over $200 million.Īlex Cooper is in a similar position with her podcast, Call Her Daddy, which has been exclusive to Spotify since 2021. The Joe Rogan Experience has been at the top of the platform’s podcasts ever since. The Joe Rogan Experience debuted on Spotify in September 2020, after Rogan signed a 3.5-year contract with the audio platform, and his show went exclusive in December that same year. ![]()
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