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On February 10 2022, ValueAct Chief Executive Officer Mason Morfit said that they had taken stake in Spotify. ValueAct is known for working with managements to bring change within the company. Mason did not disclose how much stake they had taken in the company but he believes that the company is on the right track. He said, "“Spotify’s superpower was combining engineering breakthroughs with organizational abilities — it organized creators and copyright owners to build an entirely new economic model that benefited everyone involved.” He also added, " “During the boom, it applied these powers to new markets like podcasts, audiobooks and live chatrooms. Its operating expenses and funding for content exploded. It is now sorting out what was built to last and what was built for the bubble.” <ref>https://www.bloomberg.com/news/articles/2023-02-10/valueact-takes-spotify-stake-backs-streaming-leader-s-cost-cuts</ref>As of 2021, ValueAct had more than $13 billion assets under management. Its Q3 2022 13F filling showed $5,902,272,000 in managed 13F securities and a top 10 holdings concentration of 99.86%.<ref>https://en.wikipedia.org/wiki/ValueAct_Capital</ref> <ref>https://www.ft.com/stream/5ec498b9-d958-3e5b-931e-b086b50f2b3c?page=2 | On February 10 2022, ValueAct Chief Executive Officer Mason Morfit said that they had taken stake in Spotify. ValueAct is known for working with managements to bring change within the company. Mason did not disclose how much stake they had taken in the company but he believes that the company is on the right track. He said, "“Spotify’s superpower was combining engineering breakthroughs with organizational abilities — it organized creators and copyright owners to build an entirely new economic model that benefited everyone involved.” He also added, " “During the boom, it applied these powers to new markets like podcasts, audiobooks and live chatrooms. Its operating expenses and funding for content exploded. It is now sorting out what was built to last and what was built for the bubble.” <ref>https://www.bloomberg.com/news/articles/2023-02-10/valueact-takes-spotify-stake-backs-streaming-leader-s-cost-cuts</ref>As of 2021, ValueAct had more than $13 billion assets under management. Its Q3 2022 13F filling showed $5,902,272,000 in managed 13F securities and a top 10 holdings concentration of 99.86%.<ref>https://en.wikipedia.org/wiki/ValueAct_Capital</ref> <ref>https://www.ft.com/stream/5ec498b9-d958-3e5b-931e-b086b50f2b3c?page=2 | ||
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== Technology and Usage == | |||
On February 22 2022, Spotify launched "DJ", a new AI feature aimed at improving music listening experience for its users. The Open-AI powered feauture provides spoken commentary about the tracks and artists you like. It also generates a curated list of those artists and tracks. It is currently in a beta testing and is only available to Spotify English subscribers in U.S and Canada.<ref>https://techcrunch.com/2023/02/22/spotify-launches-dj-a-new-personalized-music-lineup-that-includes-ai-powered-commentary/</ref> | |||
== Related Articles == | == Related Articles == | ||
[[Why You Should Invest In Spotify ($SPOT)]] | [[Why You Should Invest In Spotify ($SPOT)]] | ||