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SPOTIFY TECHNOLOGY S.A.

(SPOT)
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Spotify Technology S A : Introducing Spotify Lite

07/14/2021 | 06:41am EDT

Music is meant to be enjoyed by everyone, regardless of your network connectivity, data plan, and whether or not you have the latest phone. That's why today, we're officially introducing Spotify Lite. Lite is a small, fast, and simplified version of our unparalleled music experience that works much like the main Spotify app. You'll still be able to search and play your favorite songs and artists, save them, share with others, discover new music, and enjoy playlists made just for you, but with a few extra features making it ideal for older devices and operating systems.

'Spotify Lite was built from the ground up based on user feedback from around the world, allowing millions more to enjoy the world's best music experience - especially in areas with limited bandwidth and phone storage,' says Kalle Persson, Senior Product Manager at Spotify. Lite can be downloaded separately, both for Free and Spotify Premium users, and used either alongside or independently from the main Spotify app on all Android phones running version 4.3 or higher.

With Spotify Lite, you can easily control your data and storage. It's only 10 MB, so it's quick to install and load while offering the same great listening experience that lets you discover, play, and enjoy millions of songs. Spotify Lite also comes with the ability to set a data limit and get a notification when you reach it. This way, you'll be able to focus on finding your next favorite song-not worrying about data.

No need to worry if you're running low on storage-Spotify Lite also allows you to control your cache, and clear it with a single tap.

Spotify Lite is now available in 37markets* across Asia, Latin America, Middle East and Africa on Google Playwith more markets and features to follow as we continue to improve the Spotify Lite experience.

For more information, see our support pages here.

*Brazil, Canada, Mexico, Argentina, Peru, Chile, Colombia, Bolivia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, Panama, Paraguay, Uruguay, Saudi Arabia, Egypt, Algeria, Lebanon, Morocco, Tunisia, Oman, Jordan, Bahrain, United Arab Emirates, Kuwait, Qatar, South Africa, Indonesia, Thailand, Philippines, Vietnam, Malaysia, India.

Update May 28 2020: Spotify Lite has also launched in Thailand

Update as of July 14, 2021: Spotify Lite has also launched in Angola, Australia, Bangladesh, Benin, Botswana, Burkina Faso, Cameroon, Chad, Comoros, Dominica, Gabon, Gambia, Guinea, Guinea-Bissau, Lesotho, Liberia, Mali, Mauritius, Mozambique, Namibia, Niger, Pakistan, Romania, Russia, Rwanda, Senegal, Seychelles, Sierra Leone, Sri Lanka, Swaziland, Togo, Trinidad and Tobago, Ukraine, Zambia and Zimbabwe.

Disclaimer

Spotify Technology SA published this content on 14 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 July 2021 10:40:02 UTC.


ę Publicnow 2021
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Financials
Sales 2021 9 532 M 11 171 M 11 171 M
Net income 2021 -119 M -139 M -139 M
Net cash 2021 1 927 M 2 259 M 2 259 M
P/E ratio 2021 -315x
Yield 2021 -
Capitalization 37 592 M 44 050 M 44 055 M
EV / Sales 2021 3,74x
EV / Sales 2022 3,10x
Nbr of Employees 5 584
Free-Float 70,4%
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Technical analysis trends SPOTIFY TECHNOLOGY S.A.
Short TermMid-TermLong Term
TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 28
Last Close Price 196,45 €
Average target price 244,54 €
Spread / Average Target 24,5%
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
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