diff --git a/mopidy/utils/settings.py b/mopidy/utils/settings.py
index e80731af..0a8dbb1a 100644
--- a/mopidy/utils/settings.py
+++ b/mopidy/utils/settings.py
@@ -150,10 +150,10 @@ def format_settings_list(settings):
     for (key, value) in sorted(settings.current.iteritems()):
         default_value = settings.default.get(key)
         value = mask_value_if_secret(key, value)
-        lines.append(u'%s:' % key)
-        lines.append(u'  Value: %s' % indent(pformat(value)))
+        lines.append(u'%s: %s' % (key, indent(pformat(value), places=2)))
         if value != default_value and default_value is not None:
-            lines.append(u'  Default: %s' % indent(pformat(default_value)))
+            lines.append(u'  Default: %s' %
+                indent(pformat(default_value), places=4))
         if errors.get(key) is not None:
             lines.append(u'  Error: %s' % errors[key])
     return '\n'.join(lines)
diff --git a/tests/utils/settings_test.py b/tests/utils/settings_test.py
index 896f1b6a..1ffff9a6 100644
--- a/tests/utils/settings_test.py
+++ b/tests/utils/settings_test.py
@@ -154,35 +154,34 @@ class FormatSettingListTest(unittest.TestCase):
     def test_repr_of_a_string_value(self):
         self.settings.TEST = u'test'
         result = format_settings_list(self.settings)
-        self.assert_("Value: u'test'" in result, result)
+        self.assert_("TEST: u'test'" in result, result)
 
     def test_repr_of_an_int_value(self):
         self.settings.TEST = 123
         result = format_settings_list(self.settings)
-        self.assert_("Value: 123" in result, result)
+        self.assert_("TEST: 123" in result, result)
 
     def test_repr_of_a_tuple_value(self):
         self.settings.TEST = (123, u'abc')
         result = format_settings_list(self.settings)
-        self.assert_("Value: (123, u'abc')" in result, result)
+        self.assert_("TEST: (123, u'abc')" in result, result)
 
     def test_passwords_are_masked(self):
         self.settings.TEST_PASSWORD = u'secret'
         result = format_settings_list(self.settings)
-        self.assert_("Value: u'secret'" not in result, result)
-        self.assert_("Value: u'********'" in result, result)
+        self.assert_("TEST_PASSWORD: u'secret'" not in result, result)
+        self.assert_("TEST_PASSWORD: u'********'" in result, result)
 
     def test_short_values_are_not_pretty_printed(self):
         self.settings.FRONTEND = (u'mopidy.frontends.mpd.MpdFrontend',)
         result = format_settings_list(self.settings)
-        self.assert_("Value: (u'mopidy.frontends.mpd.MpdFrontend',)" in result,
+        self.assert_("FRONTEND: (u'mopidy.frontends.mpd.MpdFrontend',)" in result,
             result)
 
     def test_long_values_are_pretty_printed(self):
         self.settings.FRONTEND = (u'mopidy.frontends.mpd.MpdFrontend',
             u'mopidy.frontends.lastfm.LastfmFrontend')
         result = format_settings_list(self.settings)
-        self.assert_("""FRONTEND:
-  Value: 
-    (u'mopidy.frontends.mpd.MpdFrontend',
-     u'mopidy.frontends.lastfm.LastfmFrontend')""" in result, result)
+        self.assert_("""FRONTEND: 
+  (u'mopidy.frontends.mpd.MpdFrontend',
+   u'mopidy.frontends.lastfm.LastfmFrontend')""" in result, result)