TikTok shuttering its music service 'a clear positive' for Spotify - Deutsche Bank Sep. 25, 2024 10:18 AM ET By: Ahmed Farhath , SA News Editor [Seeking Alpha]
Spotify Technology S.A. Ordinary Shares (SPOT)
Last spotify technology s.a. ordinary shares earnings: 4/29 06:00 am
Check Earnings Report
Company Research
Source: Seeking Alpha
The research firm said Spotify stands a chance to absorb TikTok's nearly 2-2.5 million subscribers across 5 markets after the company said it will close down the music service and focus on its "Add to Music App" feature. "Perhaps the most obvious implication would be the potential for Spotify to absorb the subscribers that will be looking for a new music subscription streaming service," Deutsche Bank said. "It's hard to argue that this development is not a clear positive for Spotify." They think there is a potential 1.3M paid subscriber net add upside potential for the Q4 for Spotify, assuming the 2-2.5M displaced subscribers are allocated according to the existing DSP market share. They also view the shutdown as a potential unexpected tailwind that could also quell near-term net add guidance fears. Spotify is rated "buy" from Wall Street and SA Analysts, and "hold" from Seeking Alpha Quant. SPOT has more than doubled in value so far this year while the benchmark S&P index rose
Show less
Read more
Impact Snapshot
Event Time:
SPOT
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
SPOT alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
SPOT alerts
High impacting Spotify Technology S.A. Ordinary Shares news events
Weekly update
A roundup of the hottest topics
SPOT
News
- Spotify Technology S.A. to Announce Financial Results for Third Quarter 2024Business Wire
- Spotify (SPOT) Increases Despite Market Slip: Here's What You Need to Know [Yahoo! Finance]Yahoo! Finance
- Spotify expands AI Playlist feature to four new markets, including U.S. and Canada [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- TikTok to Shut Down its Music Streaming Business in November [Yahoo! Finance Canada]Yahoo! Finance Canada
- TikTok is abandoning its plan to take on Spotify in music streaming [Business Insider]Business Insider
SPOT
Earnings
- 7/23/24 - Beat
SPOT
Sec Filings
- 9/12/24 - Form 144
- 8/22/24 - Form 144/A
- 8/21/24 - Form 144
- SPOT's page on the SEC website