Because of Spotify’s monopoly power and voting stock, Daniel Ek and his partner control streaming music.
Not only does Spotify fail the ESG test on environment, it’s a social dumpster fire.
Spotify’s tone deaf stock buyback comes as the company is fighting fair royalties and avoiding regulation that protects culture from the Spotify juggernaut.
Spotify’s economic disparity is way worse than you thought when you value streams based on market capitalization.
[Update: This post first posted on July 25, 2019 while the authors of “Spotify Untold” were on their US tour marketing their Swedish language book. And then badaboom badabing, the book got optioned in August 2019 by Yellow Bird UK (which is a real production company, apparently home to the respected Swedish producer Berna Levin). […]
I recently co-authored a study for the World Intellectual Property Organization that was quoted by leading artists in a letter calling on the UK Prime Minister to support equitable remuneration for streaming.
Streaming royalties based on revenue are doomed to fall short until they include the value transfer in the share price.
Sometimes the big money executives at corporations are referred to pejoratively as “corporate royalty.” The nauseating Daniel Ek caused Spotify to grant him supervoting stock and he used it to make himself President for Life. Vlad will love it.
UPDATE: This post originally appeared on 9/24 in MusicTech.Solutions before reading that on 9/23 Wells Fargo initiated coverage of Spotify at “Underperform” with a $115 price target. (The stock touched $115 during the trading day on 9/24). As of this writing, the consensus price target is $159 according to NASDAQ’s Marketbeat. And of course, streaming’s […]
Spotify just had its second “death cross” in less than 6 months where the the 50 day moving average crosses the 100 day moving average to the downside.