Spotify Q2 2020 Earnings In the Shadow of COVID
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Spotify’s share price grew strongly in June 2020, with the markets responding positively to its podcast investments. However, while that increase was sustained throughout July, by mid-August the share price was heading back down to late-June levels. Though it sat markedly higher than at the start of June, the fluctuation illustrates Spotify’s challenge of maintaining strong enough market momentum to support the promise of its strategic bets. 2020 saw further signs of user base slowdown but revenue growth that exceeded that of the major record labels.
Companies and brands mentioned in this report: Spotify