Earnings Reports Forecast: Subscription Gains, Ad Market Weakness & Taylor Swift’s Continued Power

The Spotify logo is being displayed on a smartphone with the Spotify icon visible in the background in this photo illustration on Feb. 11, 2024 in Brussels, Belgium.It’s earnings season once again, with Spotify the first music company set to report second-quarter earnings on July 23. Which is fitting — not only is the Swedish streaming giant the most valuable publicly traded music company by market capitalization at $60.4 billion, it’s also an important bellwether for much of the music business.

Music subscriptions will continue to be the driving force for Spotify, other streaming companies, record labels and music publishers. Subscriber gains mean more money flowing through to creators and rights owners, while rising prices are benefitting streaming services and could flow down to creators and rights owners, too — although analysts have mixed opinions on whether price increases have those downstream benefits or simply pad streaming companies’ bottom lines.

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