Soon after the news was reported, shares hit a session high, closing up 7.45% to US$105.35 overnight, though are trading down 3.6% in pre-market trading on Thursday.Īt an investor conference earlier this month, Spotify chief financial officer Paul Vogel said the company was monitoring global economic uncertainty.Īnd in spite of the lack of material impacts on business, he said, 'We are keeping an eye on the situation and evaluating our headcount growth.'Įk also said at the investor day that he believed the company would generate US$100bn in revenue over the next ten years. Rowe Price Associates, Inc.Spotify Technology SA (NYSE:SPOT) shares got a boost from its plan to reduce hiring 'and be a little more prudent' over the next few quarters.Ĭhief executive Daniel Ek notified the audio app company's workers via email that it would slow the pace of recruitment by 25%, having added more than 2,000 new employees between 20 to take it total to 6,617 at the end of last year. Its service offers a music listening experience without commercial breaks.Ĭhief Content & Advertising Business Officer The Company operates through a number of subsidiaries, including Spotify LTD and is present in over 20 countries.

Its users can either select Spotify Free, which includes only shuffle play or Spotify Premium, which encompasses a range of features, such as shuffle play, advertisement free, unlimited skips, listen offline, play any track and audio. The Company enables users to discover new releases, which includes the latest singles and albums playlists, which includes ready-made playlists put together by music fans and experts, and over millions of songs so that users can play their favorites, discover new tracks and build a personalized collection. Spotify Technology SA a Luxembourg-based company, which offers digital music-streaming services.

Who owns spotify technology s.a