{"id":100021,"date":"2024-06-11T17:00:00","date_gmt":"2024-06-11T16:00:00","guid":{"rendered":"https:\/\/routenote.com\/blog\/?p=100021"},"modified":"2024-06-11T16:16:48","modified_gmt":"2024-06-11T15:16:48","slug":"spotify-stock-is-high-shareholders-are-selling","status":"publish","type":"post","link":"https:\/\/routenote.com\/blog\/spotify-stock-is-high-shareholders-are-selling\/","title":{"rendered":"Spotify stock is high! Shareholders are selling"},"content":{"rendered":"\n

Image credits: Yorgos Ntrahas<\/a><\/em><\/p>\n\n\n\n

Spotify’s growth is looking good and so is its value, and because its worth so much investors including the co-founder are selling.<\/span><\/h2>\n\n\n\n

Spotify<\/a> recently announced their second price increase in a a year<\/a> for US subscribers. Whilst that may be causing frowns with users, it’s done wonders for the value of Spotify. A 52-week high of $331.08 per share this month has seen huge sales.<\/p>\n\n\n\n

Their current value is more than $100 higher than during the first month of 2024. The growth of Spotify’s share price means that they’ve had an over 105% boost from the same time in 2023. Around $90 million in company stock has been discussed as to go up for sale, most of which comes from one of the company’s co-founders.<\/p>\n\n\n\n

Spotify co-founder and former chairman Martin Lorentzon is planning to sell a whopping 255,000 Spotify shares. Lorentzon’s sale of shares amount to $81.5 million. Here’s something more astonishing: That accounts for just 1.2% of Lorentzon’s Spotify stock ownership, which according to the most recent report was set at 21,476,145. That’s worth around $6.62 billion based on the last market close on June 7th.<\/p>\n\n\n\n

Lorentzon is the third-largest shareholder in Spotify with 10.9% of outstanding shares. Daniel Ek is of course the first-largest shareholder with 15.6%. However, Lorentzon actually has the most voting power of any shareholder at Spotify thanks to his control over 61% of the company’s beneficiary certificates (essentially voting power, not monetary significance). <\/p>\n\n\n\n

So, Spotify is in a fantastic position in its value to investors. Their recent price increases have come in the wake of price rises across the industry, which have stayed level for years despite inflation. What this means for the future of artists on the platform, we don’t yet know.<\/p>\n\n\n\n

\n\n\n\n

Upload your music to Spotify for free. Distribute unlimited releases to the top streaming services around the world and earn revenue from every play at www.routenote.com.<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Spotify’s growth is looking good and so is its value, and because its worth so much investors including the co-founder are selling.<\/p>\n","protected":false},"author":12,"featured_media":100023,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[825],"acf":[],"yoast_head":"\nSpotify stock is high! 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