In the last year, we’ve often referred to Spotify’s market cap – its value as a public company – and the fact that it’s fallen a long way from its $69.35bn peak in February 2021.
By November 2022, the markets judged Spotify to be worth just $13.72bn, which was quite the fall from grace.
With that in mind, it’s also important to report on what’s been happening since then. Spotify has quietly seen its share price climb to $30.67bn when the markets closed on Friday.
Still a long way down from its peak, but the share price has more than doubled since the start of this year, with no single obvious spike responsible. Whisper it quietly, but it could be growing confidence from investors in Spotify’s longer-term prospects.
In separate news, there are some updates from Spotify’s non-music business today. Variety reported on the parting of ways with another prominent podcaster, Jemele Hill, who was signed to an exclusive deal in April 2019.
Meanwhile, Bloomberg provided an update on Spotify’s policies on white-noise podcasts. They’ve now been booted out of its ‘Ambassador Ads’ program, meaning they won’t be able to run (and make money from) ads for the Spotify for Podcasters toolset.