Blue Swede: Spotify Misses Sub Goal, Earns Pivotal ‘Hold’


Ooga chaka … ooga, ooga.

Perhaps playing the spring 1974 classic rendition of “Hooked on a Feeling” by Blue Swede won’t make the executive team at Stockholm-based Spotify Technology S.A. feel so blue come Thursday morning.

While Spotify reported a multi-million dollar loss that’s much smaller than the loss seen in Q2 2018, it added fewer paying subscribers than analysts expected … again.

This led Pivotal Research Group Principal and Entertainment/Interactive Subscription Services Analyst Jeffrey Wlodarczak to downgrade “SPOT” stock.

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