A Peloton Bike inside a showroom in New York, US, on Wednesday, Nov. 1, 2023. Peloton Interactive Inc. is scheduled to release earnings figures on November 2. Michael Nagle | Bloomberg | Getty Images Peloton no longer faces an imminent liquidity crunch after a massive debt refinancing, but the company still has a long road … Read more
Daniel Ek, founder and chief executive officer of Spotify, attends the Cannes Lions 2016 on June 22, 2016 in Cannes, France. Antoine Antoniol | Getty Images Spotify announced on Monday it is increasing the cost of its premium subscription plans in the U.S., marking the Swedish music-streaming company’s second price hike in a year. U.S. … Read more
From left to right, Accel general partners Harry Nelis, Sonali de Rycker, Andrei Brasoveanu, Luca Bocchio, and Philippe Botteri. Accel Venture capital firm Accel said Tuesday it’s raised $650 million for its eighth fund targeted at investing in European and Israeli early-stage startups, in a sign the venture capital market may be showing signs of … Read more
Peloton announced Thursday that CEO Barry McCarthy will be stepping down and the company will lay off 15% of its staff because it “simply had no other way to bring its spending in line with its revenue.” McCarthy, a former Spotify and Netflix executive, will become a strategic advisor to Peloton through the end of … Read more
Daniel Ek, CEO of Swedish music streaming service Spotify, gestures as he makes a speech at a press conference in Tokyo on September 29, 2016. Toru Yamanaka | AFP | Getty Images Spotify reported first quarter earnings on Tuesday, notching record quarterly profit and beating estimates on the top and bottom lines, after a year … Read more
CNBC Investing Club with Jim Cramer Rob Kim | NBCUniversal CNBC’s Jim Cramer on Friday noted that major quarterly results from players like Verizon, Meta, Microsoft and Alphabet will be coming next week, but he zeroed in on the importance of the Personal Consumption Expenditures index because it is the real gauge of inflation. Cramer said the … Read more
A stationary bicycle inside of a Peloton store is pictured in the Manhattan borough of New York City, U.S., January 25, 2022. Carlo Allegri | Reuters Peloton has quietly removed its unlimited free membership tier on its fitness app less than a year after it debuted because the initiative was failing to convert users into … Read more
With about 100 million tracks available and over 600 million subscribers, helping listeners find the music they will love has become a navigational challenge for Spotify. It’s the promise of personalization and meaningful recommendations that will give the vast catalog more meaning, and that is central to Spotify’s mission. The streaming audio giant’s suite of … Read more
The Spotify logo is displayed on a screen on the floor of the New York Stock Exchange in New York City, Dec. 4, 2023. Brendan Mcdermid | Reuters Spotify shares jumped 6% on Wednesday after a Bloomberg report said the company will increase prices for its premium subscription service in several markets, including the U.S., … Read more
The Department of Justice sued Apple on Thursday, saying its iPhone ecosystem is a monopoly that drove its “astronomical valuation” at the expense of consumers, developers and rival phone makers. The lawsuit claims that Apple’s anti-competitive practices extend beyond the iPhone and Apple Watch businesses, citing Apple’s advertising, browser, FaceTime and news offerings. “Each step … Read more
