![]() ![]() In a strictly-embargoed weekend briefing, key media outlets were given details of the upcoming deal. Private press briefing: ‘We’re merging best of three worlds’ At a $43.4 billion sale price, Google/Alphabet pegs the value of Spotify’s shares at more than $240, though the deal is a blend of cash and stock.Īccordingly, investor interest in SPOT is expected to remain muted, with most seeing a 1-for-1 value-swap with Alphabet Inc Class C shares. At the closing bell on Friday, Spotify’s market valuation was roughly $25.08 billion, with a share price of approximately $138.80. The acquisition price raised some eyebrows on Wall Street this morning, thanks to a lofty per-share multiple. ![]() Substantial price multiple offered - Wall Street reacts That brings the total number of paying subscribers at Spotify, YouTube Music, and Google Play Music combined to approximately 104 million, according to analysts. The pairing is designed to bring more hip-hop to the combined Google Music mega-umbrella, with Cohen leveraging his ‘tight’ relationships with rappers like Kodak Black, 6ix9ine, Lil Yachty, and Moneybagg Yo.Īt the time of acquisition, Spotify is understood to have more than 100 million paying subscribers. That new property will live separately under Alphabet, Inc., instead of being tied to Google or YouTube specifically.ĭaniel Ek, CEO and cofounder of Spotify, is now expected to share chief executive responsibilities with Lyor Cohen, currently Global Head of Music at YouTube. For years, the two properties have remained somewhat distinct, though both services will now be part of a broader umbrella that includes Google Play Music, YouTube Music, and Spotify. ![]() According to one source, the unexpected acquisition is part of a ‘major overhaul’ at Google Play Music and YouTube Music.
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