Spotify saw a surge in users and advertising revenue in the fourth quarter of 2021, the company said on Wednesday, driven by strong promotional campaign performance. For the fourth quarter, Spotify reported (pdf) 406 million monthly active users, up 18 percent year on year and at the high end of the company’s guidance range. Premium Subscribers, or…
Spotify Saw Surge in Users, Ad Revenue in 2021 but Stock Tumbles Over Weak Growth Projections
Global Shares Slip Ahead of Central Bank Meetings
BANGKOK—Shares slipped in Europe on Thursday after a mixed session in Asia, with markets in China still closed for Lunar New Year holidays. U.S. futures also were lower as investors watched for updates on monetary policy from the Bank of England and European Central Bank, mindful of the Federal Reserve’s plans to begin raising interest…
New York Times Hits 10 Million Subscriptions Goal Early With Athletic Deal
The New York Times Co. has met its target of 10 million subscriptions three years ahead of schedule thanks to its purchase of The Athletic, a win for the newspaper that has staked its future on the success of its digital business. The Times gained more than a million subscriptions in its $550 million deal…
This Day in Market History: The First Internet Search Engine IPO
Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date. What Happened? On Feb. 2, 1996, Open Text Corp (USA) became the first internet search engine company to go public. Where Was the Market? The S&P 500 was trading at 635.84 and the Dow Jones Industrial Average was…
Google Shares Become Affordable With 20-to-1 Stock Split
February 2, 2022
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Alphabet, Google’s parent company, is splitting up its stock to enable affordability, leading to a surge in the share price as retail traders will now be able to own a part of the company instead of opting for fractional shares. “Alphabet today announced that the Board of Directors had approved and declared a 20-for-one stock…
Wall Street Set for Fourth Day of Gains on Alphabet, AMD Results
U.S. shares were set to extend gains for the fourth straight session on Wednesday after a turbulent start to the year, as Google-parent Alphabet and chipmaker Advanced Micro Devices’ shares surged following strong quarterly results. Alphabet Inc. rose 8.2 percent after reporting record quarterly sales on Tuesday, and said it plans to undertake a 20-to-one…
CNN President Jeff Zucker Resigns
CNN President Jeff Zucker abruptly resigned on Wednesday in the fallout from an investigation into former anchor Chris Cuomo. Zucker, also the chairman of WarnerMedia’s news and sports division, told employees that he was asked about a consensual relationship with a close colleague as part of the probe into Chris Cuomo’s time at CNN. “I was…
Chinese National Sentenced to Jail for Conspiracy to Defraud Apple With Counterfeits
February 1, 2022
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A Chinese national was sentenced to just over two years in prison and ordered to pay nearly $2 million on Feb. 1, after being found guilty of defrauding Apple out of more than $1 million. A joint announcement by the U.S Attorney’s Office, Department of Homeland Security, and U.S. Postal Inspection Service, said that Wu…
New Washington Post National Editor Recuses From Covering FBI, DOJ
The Washington Post’s newly named national editor has recused herself from any coverage involving the FBI and its parent department, the Department of Justice. Matea Gold was announced as the paper’s national editor on Jan. 26. Gold is married to Jonathan Lenzner, who became the chief of staff to FBI Director Christopher Wray in December 2021…
Spotify’s Market Value Rises Amidst Rogan-Young Controversy
January 31, 2022
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Spotify’s market cap increased by billions of dollars on Monday, following a controversial week that has seen the streaming platform at the center of a culture war between the folk-rock star Neil Young and leading podcast host Joe Rogan over allegations that the latter has used his platform to spread misinformation concerning the CCP virus. The…
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