This may be good for traders, but long-term investors can be sidelined. They can use their power to steer the company to a fair extent, and may be part of the force pushing Spotify to focus on profitability. It seems that Private Companies own 11%, of the Spotify Technology stock. With a 13% ownership, the general public has very little impact in the future of Spotify. On further inspection, we found that more than half the company's shares are owned by the top 6 shareholders, suggesting that the interests of the larger shareholders are balanced out to an extent by the smaller ones. T he company's CEO Daniel Ek directly holds 8% of the total shares outstanding.
In comparison, the second and third largest shareholders hold about 11% and 9.5% of the stock. Rosello Company Limited is currently the largest shareholder, with 11% of shares outstanding. We note that hedge funds don't have a meaningful investment in Spotify Technology. Let's continue with the shareholder structure. Investors should also be aware that a major percentage of new users for Spotify may be a function of their marketing spending, which the company has also increased to US$1b and grew by 8% in the last 12 months. "The percentage of MAUs that engaged with podcast content on our platform improved modestly relative to Q1." Their guidance also suggests a stable increase in MAUs, between 377 and 382 million in Q3. In their last earnings report, we came across this part of managements statement on MAUs (Monthly Active Users): One possible interpretation of this picture is that management feels like there may not be too much more room to grow the top line and is starting to focus on profitability.
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