{"id":246010,"date":"2024-11-05T13:29:53","date_gmt":"2024-11-05T13:29:53","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/11\/05\/bawumias-80-bn-value-claim-for-spotify-false-dubawa\/"},"modified":"2024-11-05T13:29:53","modified_gmt":"2024-11-05T13:29:53","slug":"bawumias-80-bn-value-claim-for-spotify-false-dubawa","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/11\/05\/bawumias-80-bn-value-claim-for-spotify-false-dubawa\/","title":{"rendered":"Bawumia\u2019s $80 bn value claim for Spotify, false &#8211; Dubawa"},"content":{"rendered":"<br><div id=\"article-text\">\n                       \n                        \n<p class=\"wp-block-paragraph\">Dubawa, an independent verification and fact-checking media network, has refuted a claim made by Vice President Dr Mahamudu Bawumia during the launch of the recently-held Ghana Music Xperience (GMX) streaming platform on October 30, 2024, in Accra.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Dr Bawumia had said at the launch of GMX that Spotify\u2019s market value or cap is $80 billion.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">His statement emphasised the need for a universal music app only for the Ghanaian community.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cSpotify is a music streaming app, but the value of Spotify today is $80 billion. Right, that\u2019s $80 billion. The total value of the Ghanaian economy is $75 billion. So, Spotify alone, as one app, is worth more than Ghana\u2019s total GDP. That is just one app, and it just tells you the power of apps in the economy or the global economy of today,\u201d he said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Meanwhile, it is worth noting that\u00a0Spotify\u00a0is a Swedish audio streaming and media service provider founded on April 23, 2006, by Daniel Ek and Martin Lorentzon.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As of June 2024, it is one of the largest providers of music streaming services, with over 626 million monthly active users comprising 246 million paying subscribers.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">DUBAWA decided to investigate the facts concerning Spotify\u2019s market value on the international stock market.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Verification<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As of the close of Oct. 31, 2024,\u00a0Google Finance, a platform designed to help users analyse and compare stocks and markets,\u00a0listed\u00a0Spotify\u2019s market cap as $77.33 billion against\u00a0Dr Bawumia\u2019s $80 billion claim.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter is-resized\"><img alt=\"\" class=\"wp-image-9776 lazyload\" style=\"width:860px;height:auto\" src=\"https:\/\/i0.wp.com\/ghana.dubawa.org\/wp-content\/uploads\/2024\/11\/Picture6.png?resize=624%2C332&amp;ssl=1\" decoding=\"async\"\/><img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ghana.dubawa.org\/wp-content\/uploads\/2024\/11\/Picture6.png?resize=624%2C332&amp;ssl=1\" alt=\"\" class=\"wp-image-9776\" style=\"width:860px;height:auto\" data-eio=\"l\"\/><figcaption class=\"wp-element-caption\"><em>Source: Google Finance, as of October 31, 2024.\u00a0 | Spotify\u2019s market cap is highlighted in green<\/em><\/figcaption><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\">Also,\u00a0Yahoo\u00a0Finance, a rich resource of financial market data and tools to find compelling investments, listed the\u00a0market value of music streaming Spotify as 77.331 billion as of the close of Oct. 31, 2024, unlike Dr Bawumia\u2019s claim that it is $80 billion.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter is-resized\"><img alt=\"\" class=\"wp-image-9777 lazyload\" style=\"width:852px;height:auto\" src=\"https:\/\/i0.wp.com\/ghana.dubawa.org\/wp-content\/uploads\/2024\/11\/Picture7.png?resize=624%2C412&amp;ssl=1\" decoding=\"async\"\/><img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ghana.dubawa.org\/wp-content\/uploads\/2024\/11\/Picture7.png?resize=624%2C412&amp;ssl=1\" alt=\"\" class=\"wp-image-9777\" style=\"width:852px;height:auto\" data-eio=\"l\"\/><figcaption class=\"wp-element-caption\"><em>Source: Yahoo Finance, as of Oct. 31, 2024.\u00a0 | Spotify\u2019s market cap is highlighted in green<\/em><\/figcaption><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\">Similarly,\u00a0The Wall Street Journal, a newspaper and news agency based in New York, founded by Charles Dow, Edward Jones, and Charles Bergstresser in 1889, also listed\u00a0Spotify\u2019s market value or cap as of Oct. 31, 2024, as $77.23 billion\u00a0respectively.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter is-resized\"><img alt=\"\" class=\"wp-image-9778 lazyload\" style=\"width:846px;height:auto\" src=\"https:\/\/i0.wp.com\/ghana.dubawa.org\/wp-content\/uploads\/2024\/11\/Picture8.png?resize=624%2C512&amp;ssl=1\" decoding=\"async\"\/><img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ghana.dubawa.org\/wp-content\/uploads\/2024\/11\/Picture8.png?resize=624%2C512&amp;ssl=1\" alt=\"\" class=\"wp-image-9778\" style=\"width:846px;height:auto\" data-eio=\"l\"\/><figcaption class=\"wp-element-caption\"><em>Source: The Wall Street Journal, as of Oct. 31, 2024. | Spotify\u2019s market cap is highlighted in green.<\/em><\/figcaption><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\"><strong>Conclusion<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Vice President Dr Mahamudu Bawumia\u2019s claim, made during the launch of the local music streaming app GMX on Oct. 30, 2024, that Spotify\u2019s market value is $80 billion is false.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"\/>\n\n                <p><strong>DISCLAIMER: <\/strong>The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.<\/p>      \n               \n <!-- Post Tags -->\n                \n\n                        \n\n    \n                                 \n                                             \n                    <\/div>\n","protected":false},"excerpt":{"rendered":"<p>Dubawa, an independent verification and fact-checking media network, has refuted a claim made by Vice President Dr Mahamudu Bawumia during the launch of the recently-held Ghana Music Xperience (GMX) streaming platform on October 30, 2024, in Accra. Dr Bawumia had said at the launch of GMX that Spotify\u2019s market value or cap is $80 billion. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":246011,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-246010","post","type-post","status-publish","format-standard","has-post-thumbnail","category-top-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bawumia\u2019s $80 bn value claim for Spotify, false - Dubawa - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/11\/05\/bawumias-80-bn-value-claim-for-spotify-false-dubawa\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bawumia\u2019s $80 bn value claim for Spotify, false - Dubawa - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Dubawa, an independent verification and fact-checking media network, has refuted a claim made by Vice President Dr Mahamudu Bawumia during the launch of the recently-held Ghana Music Xperience (GMX) streaming platform on October 30, 2024, in Accra. Dr Bawumia had said at the launch of GMX that Spotify\u2019s market value or cap is $80 billion. 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