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Bundles of Optimism: What You Should Know About Spotify’s Earnings
Spotify CEO Daniel forecasted record payouts in 2024, talks the bundling controversy and a new premium subscription offering in the Q2 earnings call.
Spotify's CEO expects record-high payouts to record labels and publishers in 2024 and says a new premium music offering could cost $17-$18 a month. In a wide-ranging discussion of the company’s earnings that touched on the controversy sparked by Spotify’s audiobook bundling, its plans for a premium music tier and missing its target for monthly active user growth, Spotify chief Daniel Ek said the company he helped found 18 years ago is reaching a turning point. Ek declined to comment on the lawsuit, but defended Spotify saying that it paid out a record-high amount to music labels and publishers in 2023 and will “beat those numbers” in 2024.
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