Spotify Technology (SPOT) Company Report

Analyst Coverage

Research analysts who have asked questions during Spotify Technology earnings calls.

Justin Patterson

KeyBanc Capital Markets

6 questions for SPOT

Also covers: ABNB, ANGI, CART +12 more

Richard Greenfield

LightShed Partners

5 questions for SPOT

Also covers: NFLX, PARA, PINS +7 more

Douglas Anmuth

JPMorgan Chase & Co.

4 questions for SPOT

Also covers: ABNB, AMZN, BKNG +17 more

Eric Sheridan

Goldman Sachs

4 questions for SPOT

Also covers: ABNB, ACVA, AMZN +42 more

Jessica Reif Ehrlich

Bank of America Securities

4 questions for SPOT

Also covers: CHTR, CMCSA, DIS +6 more

Michael Morris

Guggenheim Partners

3 questions for SPOT

Also covers: DIS, FOXA, NFLX +5 more

Richard Kramer

Arete Research

3 questions for SPOT

Also covers: AAPL, CRTO, ERIC +2 more

Benjamin Black

Deutsche Bank AG

2 questions for SPOT

Also covers: APP, BMBL, COMP +10 more

Benjamin Swinburne

Morgan Stanley

2 questions for SPOT

Also covers: AMT, BATRA, CCI +23 more

Jason Helfstein

Oppenheimer & Co. Inc.

2 questions for SPOT

Also covers: ANGI, BLDE, CART +23 more

Maria Ripps

Morgan Stanley

2 questions for SPOT

Also covers: BARK, DSP, DV +13 more

Matt Thornton

SunTrust Robinson Humphrey

2 questions for SPOT

Batya Levi

UBS

1 question for SPOT

Also covers: AMT, BCE, CCI +6 more

Ben Black

Deutsche Bank

1 question for SPOT

Also covers: OPEN

Bhatia Levy

BofA Securities

1 question for SPOT

Bryan Kraft

Deutsche Bank AG

1 question for SPOT

Also covers: ASTS, ATUS, CHTR +8 more

Deepak Madhavanan

UBS

1 question for SPOT

Deepak Mathivan

Wolfe Research

1 question for SPOT

Deepak Mathivanan

Cantor Fitzgerald

1 question for SPOT

Also covers: ABNB, CART, DASH +9 more

Eric Handler

Roth Capital Partners, LLC

1 question for SPOT

Also covers: BOWL, CNK, DDI +10 more

Jason Bazanay

RBC Capital Markets

1 question for SPOT

Jason Bazinet

Citigroup

1 question for SPOT

Also covers: APP, CTV, FWONK +18 more

Jesperi Verlick

Wells Fargo Securities

1 question for SPOT

Jessica Riefer-Ehrlich

JPMorgan Chase & Co.

1 question for SPOT

Kannan Venkateshwar

Barclays PLC

1 question for SPOT

Also covers: DIS, NYT, T +5 more

Mark Mahaney

Evercore ISI

1 question for SPOT

Also covers: ABNB, AMZN, BKNG +22 more

Michael Morris

Guggenheim Securities

1 question for SPOT

Also covers: SNAP, WMG

Stephen Ju

UBS

1 question for SPOT

Also covers: ABNB, ANGI, BKNG +6 more

Latest news

Recent press releases and 8-K filings for SPOT.

Spotify Launches AI Prompted Playlist for Premium Users

SPOT

Product Launch

New Projects/Investments

Spotify has expanded its AI-powered "Prompted Playlist" to Premium users in the U.S. and Canada, enabling them to create highly specific music mixes from conversational prompts.
This feature is marketed as a premium perk to help convert free users to paid subscribers and supports a $1 U.S. price increase to $12.99 starting in February.
Following the announcement, Spotify's shares slipped approximately 1.5%, and analysts like Barclays trimmed price targets (e.g., to $625 from $700) while maintaining constructive ratings, reflecting investor debate over growth versus margin pressure.

6 days ago

CNBC

Spotify Raises Premium Prices and Announces Leadership Changes

SPOT

Management Change

Revenue Acceleration/Inflection

Spotify announced Premium price increases in the U.S., Estonia, and Latvia, with U.S. Individual plans rising from $11.99 to $12.99, an approximate 8% increase, effective February billing dates.
The company aims for sustained profitability, having achieved its first full year of operating profit in 2024, and reported 281 million Premium subscribers and €582 million in quarterly operating income as of Q3 2025.
Alongside the price adjustments, Spotify formalized leadership changes, with co-founder Daniel Ek becoming executive chairman and Gustav Söderström and Alex Norström appointed as co-CEOs.

Jan 15, 2026, 11:29 AM

Bloomberg

Spotify Co-CEOs Detail 2026 Vision and Creator Focus

SPOT

CEO Change

New Projects/Investments

Revenue Acceleration/Inflection

Spotify's new co-CEOs Alex Norström and Gustav Söderström began 2026 by emphasizing continuity, a renewed creative responsibility, and a product-first approach, while the company supports a global creator ecosystem across 184 countries.
Wall Street sentiment in early January 2026 was broadly positive but mixed, with Citizens and Bank of America reiterating Buy ratings and high price targets, while Cantor Fitzgerald maintained a Hold rating and trimmed its target.
Analysts highlight Spotify's more than 600 million monthly active users, diversified revenue mix, and product innovation as key drivers for long-term growth, with an expected advertising/programmatic inflection in late 2026.

Jan 12, 2026, 5:24 PM

Bloomberg

Spotify Expands Video Podcast Strategy and Investment

SPOT

New Projects/Investments

Product Launch

Spotify has invested more than $10 billion in the podcast industry over the past five years and is expanding its Partner Program for video podcasts, aiming to position itself as a full-scale alternative to video leaders like YouTube.
The company is lowering eligibility thresholds for its Partner Program to 1,000 engaged audience members, 2,000 hours consumed in the past 30 days, and three published episodes.
To support video-first production, Spotify opened an invite-only Sycamore Studios in West Hollywood and plans for several Ringer and Spotify Studios video podcasts to stream on Netflix in early 2026.
New sponsorship-management tools will be introduced in April to help creators schedule, measure, and manage host-read deals across platforms.

Jan 7, 2026, 1:34 PM

Bloomberg

Spotify Expands Music Video Feature to Premium Users

SPOT

Product Launch

New Projects/Investments

Revenue Acceleration/Inflection

Spotify has expanded its music video feature to premium subscribers in the U.S. and Canada, following a beta test in nearly 100 markets.
This strategic move aims to compete more directly with YouTube and enhance fan engagement, which Spotify believes will increase streaming and sharing of tracks.
The initial catalog includes artists such as Ariana Grande, Olivia Dean, and BABYMONSTER, with plans to broaden the selection and eventually make videos available to all artists.
Users can watch videos on various devices including TV, desktop, iOS, and Android apps, with an option to switch seamlessly between audio and video modes.
Spotify emphasizes that music videos help deepen fan connections and provide additional revenue streams for publishers and songwriters, aligning with their broader strategy to drive earnings growth through increased engagement and pricing adjustments.

Dec 9, 2025, 3:21 PM

CNBC

Spotify Plans US Subscription Price Increase Early 2026

SPOT

Revenue Acceleration/Inflection

Management Change

Spotify is set to increase its U.S. subscription prices in early 2026, marking its first American price hike since mid-2024.
This move is driven by pressures from major record labels and occurs despite a 4% year-over-year decline in premium average revenue per user.
The company maintains a strong user base with over 713 million monthly active users and 281 million premium subscribers.
Financially, Spotify exhibits robust revenue growth with a 3-year rate of 12.1%, a net margin of 8.41%, and is trading at a premium valuation.
The price increase coincides with a leadership transition, as CEO Daniel Ek is preparing to step down and transition to executive chair early next year.

Nov 24, 2025, 11:37 PM

Spotify CFO Christian Luiga Discusses Growth and Profitability Outlook

SPOT

Guidance Update

Revenue Acceleration/Inflection

Share Buyback

Spotify's CFO Christian Luiga expressed confidence in achieving long-term ambitions, including 1 billion+ MAU and improved margins, noting nearly 300 million user and 100 million subscriber growth since 2022, with profitability expected in 2024 and 2025.
The company's recent price increases across over 150 countries have not materially impacted churn, demonstrating strong pricing power, and engagement is increasing across all verticals without cannibalization.
Spotify is leveraging AI for cost savings, such as developing its Apple TV product at less than a tenth of the original cost, and for enhancing personalization, including a partnership with OpenAI.
The advertising business is undergoing a transition to programmatic, with an inflection point anticipated in the second half of 2026, and is currently experiencing low single-digit growth.
With EUR 9.1 billion in gross liquidity, Spotify prioritizes organic growth and uses excess cash for share repurchases to offset dilution, highlighting significant growth potential as only 3% of the global population currently pays for the service.

Nov 13, 2025, 8:00 AM

Transcript

Spotify CFO Christian Luiga Outlines Strategic Priorities and Outlook

SPOT

CEO Change

Revenue Acceleration/Inflection

New Projects/Investments

Spotify's CFO, Christian Luiga, expressed confidence in achieving long-term ambitions, including over 1 billion MAU and 35-40% gross margins, noting user growth of nearly 300 million and 100 million new subscribers since 2022.
The company is undergoing a leadership transition with Daniel Ek moving to Executive Chairman and Alex and Gustav becoming co-CEOs, a change expected to maintain continuity given their previous co-president roles.
Spotify has successfully implemented price increases in over 150 countries without significant churn, demonstrating strong pricing power. Gross margins are projected to continue growing, with a seasonal dip expected in Q1 due to advertising trends.
Strategic growth drivers include increasing user engagement through new verticals like audiobooks and leveraging AI for cost efficiencies and enhanced personalization. The advertising business is transitioning to programmatic, with an inflection point anticipated in H2 2026.

Nov 13, 2025, 8:00 AM

Transcript

Spotify CFO Discusses Strategic Priorities and Financial Outlook

SPOT

CEO Change

Share Buyback

New Projects/Investments

CFO Christian Luiga expressed confidence in Spotify's progress towards its 2022 long-term ambitions, highlighting an increase of close to 300 million users and 100 million more subscribers since then, with continued growth and profitability expected.
Spotify has implemented price increases across more than 150 countries without seeing any material change in churn, demonstrating strong pricing power and a strategy to assess individual markets for future pricing decisions.
The company is expanding its offerings through new verticals like audiobooks, which are showing success, and plans to introduce more tiering initiatives in the next twelve months to drive growth and customer engagement.
Spotify's advertising business is undergoing a transition in 2025 towards programmatic advertising, with 2026 anticipated as an inflection point for accelerated growth in this segment.
With EUR 9.1 billion in gross liquidity at quarter-end, Spotify prioritizes organic and non-organic growth investments, and plans to use excess cash for share repurchases to offset dilution from stock option programs.

Nov 13, 2025, 8:00 AM

Transcript

Spotify CFO Discusses Strategic Priorities and Growth Outlook

SPOT

Management Change

New Projects/Investments

Revenue Acceleration/Inflection

CFO Christian Luiga expressed confidence in achieving Spotify's long-term ambitions, including 1+ billion MAU, 35%-40% gross margins, and 10%-20% EBIT margins, citing significant user and subscriber growth since 2022 and ongoing monetization efforts.
The company announced a management transition with Daniel Ek moving to Executive Chairman and Alex and Gustav becoming co-CEOs, which is seen as a continuation of the existing leadership structure with minimal business impact.
Spotify has demonstrated strong pricing power, with recent price increases across over 150 countries resulting in no material change in churn, and plans for more individualized market-specific pricing strategies going forward.
Strategic growth drivers include the successful expansion into new verticals like audiobooks (now in 14 countries) and the integration of AI to enhance personalization, drive engagement, and achieve cost efficiencies, such as developing the Apple TV app at less than a tenth of the original cost.
The advertising business is undergoing a transition to programmatic, with an inflection point expected in the second half of 2026, and the CFO highlighted the vast untapped market potential, noting that only 3% of the global population currently pays for Spotify.