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Bango bounces as it partners up with Spotify

The AIM-listed mobile commerce firm will offer Spotify's service through its Resale technology to mobile and other fixed subscription operators

Bango PLC - Bango partners up with Spotify in resale and bundling deal
As of the end of June 2019, Spotify had around 232mln monthly active users

Bango PLC (LON:BGO) shares bounced higher on Tuesday after it entered a resale and bundling partnership with Spotify Technology SA (NYSE:SPOT), one of the world’s largest audio streaming services.

The AIM-listed mobile commerce firm said under the partnership, Spotify’s service will be available for operators to bundle with their own mobile or fixed subscription plans.

WATCH: Bango partners with audio streaming service Spotify

Bango said its Resale technology would allow Spotify to reach new customers while its data insight capabilities would support the targeting of specific customers with new offers to generate higher adoption.

The bundling and reselling of services such as Spotify is often sought after by mobile operators and subscription service firms as it allows them another way of retaining customer loyalty as well as attracting new, higher-value customers.

Ray Anderson, Bango’s chief executive, said the company was “excited” to support Spotify in “reaching out to more customers across the world”.

Spotify, which provides free access to music and podcasts with adverts or advert-free access with a subscription, had around 232mln monthly active users as of 30 June 2019.

In early trading, Bango’s shares were up 8.9% at 134p. 

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Quick facts: Bango PLC

Price: 135.5 GBX

LSE:BGO
Market: LSE
Market Cap: £95.74 m
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