RUMOR MILL
Friday, May 26, 2023
SIX-MONTH SURGE: SPOTIFY STOCK DOUBLES
With the market's surge ahead of Memorial Day Weekend, Spotify's stock has grown nearly 100% in the last six months. Its market cap has doubled to $29.1b.
In late November 2022, the Spot's stock was hovering around $75; its price on 5/26 was above $150.
At the top of this year, Spotify shifted its aggressive investment in podcasts to refocus on music and "efficiency," as CEO Daniel Ek stated in the January memo announcing Dawn Ostroff's departure. Wall Street and the music biz have been eagerly anticipating a subscription-price increase from the giant global streamer.
In related news, in the last six months our waist size has grown considerably.
CALL MY AGENT:
JOHN MARX His first concert was Buffalo Springfield at the Indio Date Fair. (9/17a)
 HITS' FIRST LIVE ISSUE TAKES THE STAGE THIS FALLWe're manning the merch table. (9/13a)
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THE GRAMMY SHORT LIST
Who's already a lock?
COUNTRY'S NEWEST DISRUPTOR
Three chords and some truth you may not be ready for.
AI IS ALREADY EATING YOUR LUNCH
The kids can tell the difference... for now.
ALL THE WAY LIVE
The players, the tours, the enormous beers.
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