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Reading: Spotify provides subscribers as music lovers tune out Trump tariff ‘noise’
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Spotify provides subscribers as music lovers tune out Trump tariff ‘noise’
The Tycoon Herald > Economy > Spotify provides subscribers as music lovers tune out Trump tariff ‘noise’
Economy

Spotify provides subscribers as music lovers tune out Trump tariff ‘noise’

Tycoon Herald
By Tycoon Herald 3 Min Read
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Spotify added 5mn paying subscribers within the first three months of the yr, at the same time as chief govt Daniel Ek warned in regards to the “short-term noise” round US President Donald Trump’s tariffs.

The music-streaming group reached 268mn paying subscribers within the quarter ending March 31, larger than Spotify’s steerage for 265mn. The efficiency was Spotify’s strongest first-quarter subscriber progress since 2020.

“The short term may bring some noise, but we remain confident in the long-term story,” mentioned Ek, including that Spotify’s free model would supply listeners “the flexibility to stay with us even when things feel more uncertain”.

However shares within the firm fell virtually 8 per cent in pre-market commerce on Tuesday, as traders digested its forecasts for the yr. Spotify mentioned it anticipated month-to-month lively customers of 689mn within the second quarter, beneath the 693mn that analysts had forecast, in line with Seen Alpha.

Spotify’s inventory has greater than doubled up to now yr, as Wall Avenue rewarded the group for a cost-cutting push that resulted in its first-ever full-year of revenue in 2024.

Music-streaming providers are usually not affected by Trump’s tariffs, and analysts say that Spotify is comparatively shielded from an financial downturn. The group made €225mn in internet earnings on €4.2bn in income in the course of the quarter.

Within the US, Spotify prices $12 a month, in contrast with $10 a month when the streamer launched within the nation greater than a decade in the past. Spotify was making ready to lift costs in dozens of nations throughout Europe and Latin America this summer time, the Monetary Occasions reported final week. 

Really helpful

Spotify chief executive Daniel Ek

TD Cowen analyst Doug Creutz mentioned Spotify nonetheless provided good worth for shoppers relative to “other entertainment options” and can be “unlikely to see meaningful increases in [cancellations] even if the economy goes into recession”.

“People also have important emotional connections to music that become more important during times of stress,” Creutz added.  

Nevertheless, analysts count on {that a} recession would dent Spotify’s promoting income, which makes up about 10 per cent of the entire. Spotify’s first-quarter promoting income climbed 8 per cent from a yr in the past, to €419mn.

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