Spotify Technology S.A. (NYSE:SPOT) 2022 Evercore ISI 2nd Annual Technology, Media & Telcom Conference Call September 7, 2022 8:00 AM ET Company Participants Paul Vogel - Chief Financial Officer Conference Call Participants Mark Mahaney - Evercore ISI Mark Mahaney All right. Welcome to Evercore's first in-person annual tech conference. It's good as hell [ph] to be back, seeing people in person, being back in New York, leaving the rolling blackouts in California. You and I escaped 100-degree plus weather, re ...

Last updated 4pm on July 1 Not a current version 1 Q2 2022 Update July 27th, 2022 Table of Contents Last updated 4pm on July 1 Not a current version Key Highlights Financial Summary MAUs & Subscribers Product & Platform Outlook Financial Statements Executive Summary 2 p.03 p.04 p.06 p.13 p.16 p.20 p.232 Executive Summary % Change USER & FINANCIAL SUMMARY Q2 2021 Q1 2022 Q2 2022 Y/Y Q/Q USERS (M) Total Monthly Active Users ("MAUs") 365 422 433 19% 3% Premium Subscribers 165 182 188 14% 4% Ad-Supported MAUs 2 ...

Financial Data and Key Metrics Changes - Total monthly active users (MAUs) grew to 433 million in Q2, exceeding guidance by 5 million, marking the largest Q2 net additions in history after adjusting for the exit from Russia and a March outage [13] - Premium subscribers reached 188 million, 1 million ahead of guidance, driven by strong performance in Europe and Latin America [14] - Revenue was in line with expectations, bolstered by currency movements, and advertising revenue grew by 31% year-on-year [14] - Gross margin for Q2 was below guidance but slightly ahead of expectations when adjusted for a one-time charge related to the discontinuation of Car Thing [15][16] - The company generated positive free cash flow for the ninth consecutive quarter, averaging over $200 million in free cash flow over the past three years [18] Business Line Data and Key Metrics Changes - The advertising business saw a 31% year-on-year growth, with CPMs increasing in double digits and mid single-digit growth in impressions [14][27] - The decision to stop manufacturing Car Thing resulted in a one-time charge of $31 million, impacting gross margin by 109 basis points [16] - Operating expenses increased due to global sales team expansion, platform investment, and acquisitions, with foreign exchange movements adding nearly 1,000 basis points to expense growth [17] Market Data and Key Metrics Changes - The company is experiencing strong user growth in emerging markets, particularly in Latin America and the Rest of the World, while growth in developed markets like North America and Europe is slowing [56] - The partnership with FC Barcelona is expected to enhance exposure to younger audiences in key growth markets, although the impact will be assessed over the long term [45][46] Company Strategy and Development Direction - The company aims to reach 1 billion users by 2030, focusing on improving gross margins and generating positive free cash flow [9] - The strategy includes leveraging a unique consumer experience powered by three revenue-generating models: subscriptions, ads, and marketplace [9] - The company is investing in new verticals, including audiobooks, with expectations for significant growth in the coming years [26][57] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about user and subscriber growth despite macroeconomic uncertainties, noting no material impact from the economic downturn [8][20] - The company is proactively monitoring the global macro outlook and has reduced hiring by 25% in anticipation of potential slowdowns [8] - Management expressed confidence in the advertising business, citing strong demand and growth in podcasting as core components of future revenue [29][34] Other Important Information - The company has closed the acquisition of Findaway, which is expected to enhance its audiobook offerings [57] - Management emphasized the importance of cash reserves for future investments and acquisitions, with nearly $3 billion in cash on hand [35] Q&A Session Summary Question: Insights on Premium Subscribers - Management noted positive trends in gross intake and churn, with churn in line with expectations and down year-over-year [23] Question: Early Uptake of Live Initiatives - Management indicated that it is early in the experimentation phase for live initiatives, with optimism based on trends in Asian markets [24] Question: Impact of New Categories - Management expects to launch audiobook offerings soon, with more details to come in early 2023 [26] Question: Advertising Business Growth - Management highlighted the importance of increasing inventory and improving measurement and targeting to drive ad growth [37] Question: Operating Expenses and FX Impact - Management acknowledged that foreign exchange will significantly impact operating expenses in Q3, alongside planned investments in user growth [40] Question: Subscriber Conversion Opportunities - Management discussed the "bandwagon effect" where user growth typically leads to improved subscriber numbers over time [41] Question: Barcelona Partnership Expectations - Management expressed excitement about the partnership's potential to reach younger audiences, with incremental costs expected to be absorbed largely by reallocating existing funds [45][47] Question: Gross Margin and Pricing Strategy - Management confirmed that price increases have not negatively impacted churn, and they remain confident in their pricing power despite macro uncertainties [51][52]

Spotify Technology S.A. (NYSE:SPOT) Q1 2022 Earnings Conference Call April 27, 2022 8:00 AM ET Company Participants Bryan Goldberg - Head, Investor Relations Daniel Ek - Chief Executive Officer Paul Vogel - Chief Financial Officer Operator Good morning. My name is Julian and I will be your conference operator today. At this time, I would like to welcome everyone to SpotifyÂ's Q1 2022 Earnings Conference Call and Webcast. Bryan Goldberg, Head of Investor Relations, you may begin your conference. Bryan Goldbe ...

Spotify Technology S.A. (NYSE:SPOT) 2022 Morgan Stanley Technology, Media and Telecom Conference March 9, 2022 7:10 PM ET Company Participants Paul Vogel – Chief Financial Officer Conference Call Participants Ben Swinburne – Morgan Stanley Ben Swinburne Okay, we're going to get started. Good afternoon everybody. I'm Ben Swinburne from Morgan Stanley, a quick disclosure statement that I know you've heard a million times. Please note that important disclosures, including my personal holdings disclosures and M ...

Spotify Technology SA (NYSE:SPOT) Q4 2021 Earnings Conference Call February 2, 2022 4:30 PM ET Company Participants Bryan Goldberg - Head, IR Daniel Ek - Founder, CEO & Chairman Paul Vogel - CFO Conference Call Participants Operator Good afternoon, and thank you for standing by. At this time, I would like to welcome everyone to Spotify's Fourth Quarter 2021 Earnings Call and Webcast. I would now like to turn the call over to Bryan Goldberg, Head of Investor Relations. You may begin your conference. Bryan Go ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________________________ FORM 20-F ___________________________________________________________ ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCH ...

Spotify Technology S.A. (NYSE:SPOT) Q3 2021 Earnings Conference Call October 27, 2021 8:00 AM ET Company Participants Daniel Ek – CEO Paul Vogel – CFO Bryan Goldberg – Head of Investor Relations Conference Call Participants Male 1 – Paricipants Male 2 – Paricipants Female 1 – Paricipants Female 2 – Paricipants Male 3 – Paricipants Male 1 Throughout high school, Brandon was the misfit. Then one day out of the blue, one of the popular girls asked him to prom, did you just feel like saying why the heck am I he ...

Spotify Technology SA (NYSE:SPOT) Bank of America Securities 2021 Media, Communications and Entertainment Conference Call September 14, 2021 2:20 PM ET Company Participants Paul Vogel – Chief Financial Officer Conference Call Participants Jessica Reif Ehrlich – BofA Securities Jessica Reif Ehrlich Good afternoon, and welcome back, everybody. I’m Jessica Reif Ehrlich, senior media and entertainment analyst at BofA Securities. And I’m thrilled to have Spotify with us today. Paul Vogel, CFO who is joining us. ...

Spotify Technology S.A. (NYSE:SPOT) Q2 2021 Earnings Conference Call July 28, 2021 8:00 AM ET Company Participants Bryan Goldberg - Head of Investor Relations Daniel Ek - Chief Executive Officer Paul Vogel - Chief Financial Officer Conference Call Participants Operator Ladies and gentlemen, thank you for standing by, and welcome to the Spotify Q2 2021 Earnings Conference Call. At this time, all participantsÂ' are in a listen-only mode. [Operator Instructions] I would now like to hand the conference over to ...