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Spotify:Quarterly Results/2024 Q3: Difference between revisions
Spotify:Quarterly Results/2024 Q3 (view source)
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==Insights== | ==Insights== | ||
=== Industry insights === | |||
==== Universal media group (UMG) research ==== | |||
* According to a recent [https://www.musicweek.com/labels/read/umg-investor-presentation-reveals-major-s-plans-for-superfans-and-streaming-growth/090486 UMG statement], there are around 220 million consumers who are interested in music subscription at the current price (75 million from developed markets and 145 million in high-potential markets). | |||
* The research established that even with recent price increases, music-streaming remains heavily under-monetized, especially the ad-supported models. | |||
* UMG pointed out that 20% of current subscribers are willing to join the super-premium tier. | |||
==== Netflix earnings ==== | |||
* Netflix Q3 2024 revenue came in at $9.83 billion (+15% y/y), above the $9.77 expected by analysts. It reported 282.7 million paid memberships, in line with analysts estimate of 282.15 million<ref>https://www.cnbc.com/2024/10/17/netflix-nflx-earnings-q3-2024.html</ref>. This could suggest that consumer spending on entertainment is healthy. | |||
* The company guided for Q4 2024 revenue of $10.13 billion (+14.7%), above analysts estimate. | |||
* Netflix said it doesn't expected its ad tier to be a primary growth driver until 2026 but the expect ads revenue to almost double year-over-year<ref>https://seekingalpha.com/article/4727511-netflix-inc-nflx-q3-2024-earnings-call-transcript</ref>. | |||
== References == | |||
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