Spotify Technology S.A. (NYSE:SPOT) Q1 2024 Earnings Call Transcript

Daniel Ek: Yeah, So I’ve actually seen Christian firsthand for quite some time, just as a sort of fun anecdote. So Christian was part of the team at TeliaSonera that made the Spotify investment in 2015. So he’s very familiar with the company and myself and Martin Lorentzon and the other Co-Founder of Spotify. So we know Christian quite well. And it’s been fun to follow his progress from far, obviously at TeliaSonera, and then going to Saab, tackling different industries, but kind of always with a consistent, great track record. And that’s a track record of improving the bottom-line, but at the same time, be very, very focused on driving a much better business even on the top-line too. And I think that’s the sort of key thing that got me and the rest of the team to be excited about him too, because this is a person who’s been at many different industries and seen many different things.

And this is not just someone who’s focused on optimizing on the bottom-line by cutting costs, but actually someone who’s focused on what’s right for the business, even on the top line too. And that feels like the right fit for us. So we’re very excited about that, and really the top priorities as he comes in, is to be focused together with the team on driving even further improvements on being resourceful. That is our sort of key mantra. We think we still have more ways to go when it comes to that. So we’re excited about that. And then, one of the questions here alluded to a sort of capital allocation. So I’m sure that will be one of his top priorities together with myself and the team too. So we’re excited about it. But yeah, he’s going to be a great addition, I think to the team and I look forward to all of you guys meeting him as well.

Bryan Goldberg: All right, great. So that’s going to conclude our Q&A session today. Thanks, everyone, for the questions. And now I’d like to turn the call back over to Daniel for some closing remarks.

Daniel Ek: All right. Well, thanks, Bryan. We’ve talked about 2024 as the year of monetization, and I think we’re really delivering on that ambition. Now as we’ve shifted the focus on strong revenue growth and margin expansion, we see a clear opportunity to ensure we’re also continuing to grow the top of our funnel. I feel good about the changes we’re implementing and remain very confident in our ability to reach the ambitious plans we’ve outlined. So thanks everyone for joining us and I look forward to speaking to you next quarter.

Bryan Goldberg: Okay great And that concludes today’s call. A replay will be available on our website and also on the Spotify app under Spotify Earnings Call Replays. Thanks everyone for joining.