Spotify: Price Increases for Further Innovations

The stock of Spotify (SPOT) faced significant difficulties in July after a long rally, dropping over 20% from its peak. The provider of the major music and podcast streaming platform issued a weaker than expected forecast for the current quarter and missed key financial metrics in its Q2 report. The total number of monthly active users (MAUs) for Q3 was projected to be 710 million, representing a net increase of about 14 million new MAUs, slightly above the consensus estimate of 707.2 million. The total number of premium subscribers was estimated...