Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

SPOTIFY TECHNOLOGY S.A.

(SPOT)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

'Big ambition': Pearson pins its future on new U.S. app

07/30/2021 | 04:46am EDT
FILE PHOTO: FILE PHOTO: The company logo is displayed outside the Pearson offices in London

LONDON (Reuters) -Global education group Pearson launched a new Spotify-style "all-you-can-eat" college app in the United States on Friday, the centrepiece of its new digital strategy to build direct ties with learners throughout life.

Having been buffeted by rental markets and second-hand options for once-expensive textbooks, Pearson has embarked on a direct-to-consumer strategy offering unlimited access to content to provide more reliable subscription revenues.

Chief Executive Andy Bird, a former Disney executive who has launched the new strategy, said Pearson+ was designed to offer the same ease of use as the high-end entertainment and media apps that students are used to.

In time it will be rolled out to markets around the world and offered to school and college students, English language learners and workers looking to develop new skills.

"The ambition for Pearson+ is quite large. It has been designed to create what is the beginning of a digital learning ecosystem," Bird told reporters, adding that it could also include sections for assessments and qualifications.

Analysts at Citi said the app could boost medium-term growth.

"As importantly, it shows that Pearson's new CEO Andy Bird is willing to be more bold than perhaps originally anticipated," they said in a note.

The launch came as the company reported a first-half adjusted operating profit of 127 million pounds ($177 million), in a better-than-expected rebound, with growth in sales as exams resumed and demand for online products jumped.

Its Global Online Learning sales rose 25% on strong demand for Virtual Schools enrolment in the United States. Global Assessment sales were up 34% following the cancellation of exams last year, and its U.S. Higher Education business fell by 2%.

With the Pearson+ app, students can pay $9.99 a month for a single eText, or $14.99 a month for a multi-access package.

Bird said the group was also in advanced talks with several large companies, looking to provide training for employees.

Pearson's shares, up almost 70% in the last nine months following six years of volatile trading, rose 0.5% in a weaker broader market.

($1 = 0.7175 pounds)

(Reporting by Kate Holton; editing by Sarah Young and William Schomberg)

By Kate Holton


ę Reuters 2021
All news about SPOTIFY TECHNOLOGY S.A.
09:52aSPOTIFY TECHNOLOGY S A : How Spotify Is Supporting COVID-19 Vaccine Education and Advocacy
PU
03:01aCOSMIQ UNIVERSE AG : Avatar Leads the Digital Love Earth Movement - Arctica Expedition 'Lo..
DJ
02:25aPhilippines lower house approves VAT for big tech firms
RE
09/21SPOTIFY TECHNOLOGY S A : The Viral Duo Behind The Inspired Unemployed are Bringing Their T..
PU
09/21SPOTIFY TECHNOLOGY S A : 13 Upcoming Podcasts From Spotify France, Including the Country's..
PU
09/21Universal Music dances to $55 billion in electric stock market debut
RE
09/21Universal Music solo project proves a hit with investors
RE
09/21Universal Music Surges on First Day of Trading, Showing Appetite to Invest in Music Ind..
DJ
09/21SPOTIFY TECHNOLOGY S A : Is Celebrating the Triumphs of Latinx Artistry With the ‘Aq..
PU
09/20Universal Music valued around $39 billion ahead of stock market debut
RE
More news
Analyst Recommendations on SPOTIFY TECHNOLOGY S.A.
More recommendations
Financials
Sales 2021 9 535 M 11 191 M 11 191 M
Net income 2021 -118 M -139 M -139 M
Net cash 2021 1 830 M 2 148 M 2 148 M
P/E ratio 2021 -324x
Yield 2021 -
Capitalization 38 286 M 44 875 M 44 937 M
EV / Sales 2021 3,82x
EV / Sales 2022 3,17x
Nbr of Employees 5 584
Free-Float 70,4%
Chart SPOTIFY TECHNOLOGY S.A.
Duration : Period :
Spotify Technology S.A. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SPOTIFY TECHNOLOGY S.A.
Short TermMid-TermLong Term
TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 29
Last Close Price 200,08 €
Average target price 244,54 €
Spread / Average Target 22,2%
EPS Revisions
Managers and Directors
Daniel Ek Chairman & Chief Executive Officer
Paul Aaron Vogel Chief Financial Officer
Stig Gustav Victor S÷derstr÷m Chief Research & Development Officer
Martin Lorentzon Independent Director
Cristina Stenbeck Independent Director
Sector and Competitors
1st jan.Capi. (M$)
SPOTIFY TECHNOLOGY S.A.-25.47%44 875
TENCENT HOLDINGS LIMITED-20.21%550 436
PROSUS N.V.-22.70%254 582
NETFLIX, INC.5.99%253 669
AIRBNB, INC.15.32%104 865
UBER TECHNOLOGIES, INC.-13.02%83 590