Spotify will host an investor day at the company’s New York City office on June 8 at 10 a.m. EST, the company announced Monday (May 9). This will be streamers’ first investor day since going public in 2018.
The event will feature a series of presentations from Spotify CEO Daniel Ek, CFO Paul Vogel and other members of the leadership team, followed by a live Q&A focused on the progress Spotify has made since its direct listing in April 2018 along with its current roadmap and future growth opportunities.
A live webcast of the investor day will be available at investors.spotify.com, while in-person attendance is by invitation only due to limited capacity. Additional details will be sent out in advance of the event.
The investor day was announced as Spotify stock reached an all-time low of $93.52 on Monday, amid an overall decline in the market that affected other music company stocks including iHeartMedia and MSG Entertainment. The streamers’ share prices eventually closed at $94.44, down 9.8% from Friday.
Little more than a year ago, on Feb. 22, 2021, Spotify stock was trading at an all-time high of $387.44. The company’s first-quarter earnings release on April 27 didn’t help the downward trend, after showing slower-than-expected subscriber growth in the quarter and offering a disappointing outlook for the second quarter.
Last Thursday, Ek demonstrated his support for the company by announcing on Twitter that he’d bought $50 million of Spotify stock. “I believe our best days are ahead,” he wrote at the time. The following day, Spotify’s share price rallied briefly — from the previous day’s close of $105.59 to $108.98 in early morning trading — before closing the day down slightly at $104.65.
