He didn’t reveal who the third party was. In answering the first question, Vogel revealed that the third party platform issue “was an issue with email verifications between and the third party”. In addition to that, they were asked how confident they are that the missed guidance is not related to competition or slower uptake due to price rises, which have been implemented in multiple markets, including the US, Europe and the UK. Here’s what we found out: 1) SPOT’s missed MAU guidance is just a “bump on the road” and not related to price increases, or competition…Įk and Vogel were asked by an analyst early on in the Q2 earnings call to explain the third-party platform issue cited as having had an impact on MAUs
He also revealed that, “Markets like India, Brazil and parts of Southeast Asia lagged behind our expectations and we’ve also seen a slightly slower adoption rate in some of our newly launched markets”.Įk noted: “All these regions have been hard hit by COVID”.ĬEO Daniel Ek and CFO Paul Vogel were quizzed on the company’s earnings call last week. “While I’m disappointed that our MAU growth was softer in the last half of Q1 and the first half of Q2, the good news is that we’ve seen that trendline reverse and all the leading indicators I’m seeing show that we are back on track”.ĭuring his opening remarks on the company’s earnings call, SPOT CEO Daniel Ek explained that “ While I’m disappointed that our MAU growth was softer in the last half of Q1 and the first half of Q2, the good news is that we’ve seen that trendline reverse and all the leading indicators I’m seeing show that we are back on track.” Secondly, Spotify cites a now-resolved “user sign-up issue” associated with an unnamed global third party platform as a reason for slower MAU growth in Q2. Spotify partly blamed this slow MAU growth on COVID-19, telling investors that the impact of coronavirus “continued to weigh on our performance in several markets” and that, in some instances, the platform has recently “paused marketing campaigns due to the severity of the pandemic”.
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