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Spotify CEO Floats Goal Of A Billion Subscribers, Sees Streamer Faring Better Than Most Amid Uncertainty As Stock Tumbles After Q1 Earnings
Spotify CEO Daniel Ek set a billion subscribers goal and sees the music streamer faring better than most amid global uncertainty as the stock dips after Q1 earnings.
“There’s a lot of uncertainty in the world, and when volatility rises, it’s natural to ask who might be affected and how,” said Spotify CEO Daniel Ek kicking off a call with analysts. Companies globally are operating amid a trade war with the U.S. launched by the administration of Donald Trump that threaten to raise consumer prices, pinch pocketbooks and lead to softer advertising. The giant streamer – which just turned 19 — beat on monthly active users, which hit 678 million, up 10% from the years earlier but flat from the previous quarter.
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