Market Overview

Spotify Announces Stock Repurchase Program, Up to $1.0 Billion

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Spotify Technology S.A. (NYSE:SPOT) (the "Company") announces that it
will commence a stock repurchase program beginning in the fourth quarter
of 2018. Repurchases of up to 10,000,000 of the Company's ordinary
shares have been authorized by the Company's general meeting of
shareholders and the Board of Directors approved such repurchase up to
the amount of $1.0 billion. The repurchase program will expire on April
21, 2021. The timing and actual number of shares repurchased will depend
on a variety of factors, including price, general business and market
conditions, and alternative investment opportunities. The repurchase
program will be executed consistent with the Company's capital
allocation strategy of prioritizing investment to grow the business over
the long term.

Under the repurchase program, repurchases can be made from time to time
using a variety of methods, including open market purchases, all in
compliance with the rules of the United States Securities and Exchange
Commission and other applicable legal requirements.

The repurchase program does not obligate the Company to acquire any
particular amount of ordinary shares, and the repurchase program may be
suspended or discontinued at any time at the Company's discretion.

Forward Looking Statements

We would like to caution you certain of the above statements represent
"forward-looking statements" as defined in Section 27A of the United
States Securities Act of 1933, as amended, and Section 21E of the United
States Securities Exchange Act of 1934, as amended. The words "may,"
"might," "will," "could," "would," "should," "expect," "plan,"
"anticipate," "intend," "seek," "believe," "estimate," "predict,"
"potential," "continue," "contemplate," "possible," and similar words
are intended to identify estimates and forward-looking statements. We
intend such forward-looking statements to be covered by the safe harbor
provisions for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995 and include this statement for
purposes of complying with the safe harbor provisions. Such
forward-looking statements involve significant risks, uncertainties and
assumptions that could cause actual results to differ materially from
our historical experience and our present expectations or projections,
including but not limited to the following known material factors: our
ability to attract prospective customers and to retain existing
customers; our dependence upon third-party licenses for sound recordings
and musical compositions; our ability to comply with the many complex
license agreements to which we are a party; our ability to generate
sufficient revenue to be profitable or to generate positive cash flow on
a sustained basis; our lack of control over the providers of our content
and their effect on our access to music and other content; our ability
to accurately estimate the amounts payable under our license agreements;
the limitations on our operating flexibility due to the minimum
guarantees required under certain of our license agreements; our ability
to obtain accurate and comprehensive information about music
compositions in order to obtain necessary licenses or perform
obligations under our existing license agreements; potential breaches of
our security systems; risk associated with unauthorized access of our
software and services and manipulation of stream counts and customer
accounts; assertions by third parties of infringement or other
violations by us of their intellectual property rights; risks related to
our status as a foreign private issuer; dilution resulting from
additional share issuances; the concentration of voting power among our
founders who have and will continue to have substantial control over our
business; tax-related risks; unanticipated changes relating to
competitive factors in our industry; ability to hire and retain key
personnel; changes in legislation or governmental regulations affecting
us; international, national or local economic, social or political
conditions; conditions in the credit markets; risks associated with
accounting estimates, currency fluctuations and foreign exchange
controls; and such other risks as set forth in our filings with the
United States Securities and Exchange Commission.

We caution you not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof. We undertake no
obligation to publicly update or revise any of our forward-looking
statements after the date they are made, whether as a result of new
information, future events or otherwise, except to the extent required
by law.

About Spotify Technology S.A.

Spotify is the largest global music streaming subscription service with
191 million Monthly Active Users and 87 million Premium Subscribers.
With a presence in 65 countries and territories, and more than 40
million tracks, it has transformed the way people access and enjoy music.

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