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John Marks Launches Streaming Consultant Firm
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Spotify Technology S.A. Announces Financial Results for First Quarter 2021
April 28, 2021 GMT
NEW YORK (BUSINESS WIRE) Apr 28, 2021
Spotify Technology S.A. (NYSE:SPOT) today reported financial results for the first fiscal quarter of 2021 ending March 31, 2021.
(Graphic: Business Wire)
Dear Shareholders,
We are pleased with our performance in Q1. The business delivered subscriber growth and Gross Margin at the top end of our guidance range, a continued improvement in ARPU, and operating income better than plan. We saw greater MAU variability this quarter, but results were within our range of expectations given the outperformance in Q4 and the continued impact from COVID-19. Revenue grew by 16% (22% excluding the impact of FX) and was at the upper end of our guidance range. Other highlights from the quarter include a successful launch in 86 new markets, a $1.5 billion Exchangeable Note
In his new role, Kardinal will continue to discover, sign and develop artists, forge new creative partnerships and provide strategic direction to drive the international success and cultural prominence of UMC’s artist roster. He will work closely with UMC’s urban marketing team while continuing his roles as chair of UMC’s B.L.A.C.K. Coalition (BLC) and Canada’s representative on UMG’s Task Force for Meaningful Change.
Republic Records promoted
Xiarra-Diamond Nimrod to vp of marketing strategy. In her new role, she will continue to oversee marketing, rollout and release strategy for multiplatinum chart-topping rap artists such as Pop Smoke, Metro Boomin and Jacquees.
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