Stock Spotlight: Investors rattled by Spotify results but Joe Rogan impact unknown

Share price down 7%

James Baxter-Derrington
clock • 4 min read
There is a risk that stars like Neil Young leaving the platform of losing a chunk of prospective new paying customers

There is a risk that stars like Neil Young leaving the platform of losing a chunk of prospective new paying customers

Spotify’s share price tumbled last week following the publication of its results, which revealed the world’s largest music streaming platform was anticipating a slowdown in subscriber growth over the first quarter.

While the firm performed well over the past quarter, the forward-looking statements were worrying enough to wipe 23% off the Swedish firm's share price in after hours trading, but they had somewhat rallied by market open the following morning, down just over 7% on 3 February. Questions over music royalty trusts following Neil Young's Spotify row Victoria Scholar, head of investment at interactive investor, said investors had been "spooked by the company's current quarter outlook for monthly active users, which it expects will hit 318 million, falling short of expectations". She add...

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