Spotify (SPOT) - Get Free Report is one of numerous popular apps that are crashing on Apple's (AAPL) - Get Free Report iOS operating system, and reports point to Facebook (FB) - Get Free Report as the reason for the outages.
App outage tracker DownDetector.com tracked thousands of app crashes whenever they were launched on iPhones or iPads. Early reports say the problem is being caused by Facebook's Software Development Kit, or SDK, which many apps use to manage user logins.
"Facebook SDKs enable you to pass app-event data from your app to Facebook. With app event data, you can accurately track and measure the actions people take in your app.," Facebook's developer website says.
Requests for comment from Facebook and Spotify were not returned in time for publication.
Facebook's developer platform said that it is "aware and investigating an increase in errors on the iOS SDK which is causing some apps to crash."
According to the site, it began receiving those error messages on July 5 with its last update being "about an hour ago."
Spotify shares at last check were down 1.2% to $271.50, while Facebook slipped 0.4% to $243.63.
Last week, analysts at RBC Capital raised their price target on Spotify to $320 a share from $192.
Analyst Mark Mahaney, who reiterated his outperform rating, said his U.S. online music survey found that Alphabet's (GOOGL) - Get Free Report YouTube and Spotify are the two most popular sources of music in the U.S. today, having both been selected by 34% of survey respondents as one of their most commonly used music streaming services.
The analyst also discussed the growing popularity of podcasts, with 55% of survey respondents having listened to a podcast and 37% listening to them monthly, "with penetration growing in every age cohort."
"Among all respondents who listen to music, 49% indicated they listen to podcasts, an 8pt increase from our 2019 survey results," Mahaney wrote.