Donald Malter: Streaming is Alive and Well, Spotify now worth $67bn

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Donald Malter: Streaming is Alive and Well, Spotify now worth $67bn

Donald Malter: Streaming is Alive and Well, Spotify now worth $67bn

Spotify has seen its share price triple in just over 10 Months, should a special dividend be paid out to artists?
Spotify has seen its share price triple in just over 10 Months, should a special dividend be paid out to artists?

New York – Jan 15, 2021 – Spotify has seen its share price triple in just over 10 Months, should a special dividend be paid out to artists?

When the New York Stock Exchange opened for business last Friday (8th January 2021) Spotify’s share price rose 7% from the opening bell to close at $353.11 at the close of the day.

According to Y Charts (https://ycharts.com/companies/SPOT/market_cap) this resulted in an enormous jump in Market Capitalisation to $66.94bn.

That is over three times the value of the Market Cap from mid March 2020.

The lowest point of Spotify’s share price that month came on March 16, when it closed at $117.64 – resulting in a market cap of $21.68bn.

Friday’s bump in Spotify’s share price came in the same week that Bank of America increased its Spotify share price target from $357-per-share to $428.

Bank ofAmerica’s Jessica Reif Cohen raised that share price target while suggesting that Spotify’s Q4 2020 results – announced early next month – are likely to show “sequential improvement in average revenue per user”.

Streaming is obviously here to stay, said Music Industry Analyst, Donald Malter “a fact that’s been pretty obvious for some time now but the market seems to entering a new phase. One where growth in new markets where subscription yields may be less than those in existence at present sadly no longer generate the more profitable revenue stream they once did.”

Editorial Notes:

Donald Malter over the past 35 years has worked for, Elektra Records (Warners), Zomba Music (SONY), Verve (Universal Music Group), BMG Chrysalis (BMG Music) as well as numerous other clients. He is an “in demand” Consultant specialising in introducing Private Equity Investment into Entertainment Projects.

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