Report
UMG : Good Q3 for Spotify and possible evolution of its remuneration model: doubly positive for UMG
>An encouraging Q3 for Spotify for price momentum on the market - Yesterday, Spotify published its Q3 results. Our takeaways: 1/ Premium subscriber base up 16% to 226 million (consensus 224.7 million).The group added 6 million subscribers over the quarter, i.e. +2 million compared with the guidance set for Q2 (+4 million). The user base (free) rose by 32% to 361 million; 2/ Premium ARPU was € 4.34 (consensus €4.3), reflecting an organic contraction of -1%; 3/ Premium...
Underlying
UNIVERSAL MUSIC GROUP NV
Provider
Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Jerôme Bodin
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