Ultime notizie per Spotify Technology (NYSE:SPOT) Azioni

Spotify Technology

Spotify, headquartered in Stockholm, Sweden, is one of the world's largest music streaming service providers, with 602 million monthly active users at the end of 2023. The firm monetizes its users through a paid subscription model, referred to as its premium service, and an ad-based model, referred to as its ad-supported service. Revenue from premium and ad-supported services represented 86% and 14% of Spotify's 2023 total revenue, respectively.

Spotify Technology SA

SPOTIFY TECHNOLOGY ORD

Spot Coffee (Canada) Ltd

SPOTLITE360 IOT SOLUTION by SpotLite360 IOT Solutions Inc.

SpotLite360 IOT Solutions Inc

SPOTLIGHT HOMES INC by Spotlight Homes, Inc.

Spotlight Homes Inc

SPOTLIGHT CAP HLDGS INC by Spotlight Capital Holdings, Inc.

spotlight Capital Holdings Inc

With cutting-edge technology and a consumer-centric approach, Jane Technologies, led by CEO and co-founder Socrates Rosenfeld, is transforming how consumers buy cannabis, making the process as intuitive as choosing music on Spotify.
Rosenfeld's team at Jane Technologies is developing tools that not only personalize the cannabis shopping experience but also integrate seamlessly with retail infrastructure. In an exclusive interview with Benzinga Cannabis, Rosenfeld shares insights into their approach, how they are revolutionizing cannabis retail, and what lies ahead.
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<h3 class="wp-block-heading">From E-Commerce To Integrated Ecosystems: Cannabis Shopping Into Spotify </h3>
<a href="https://www.iheartjane.com/">Jane Technologies</a> began as an e-commerce provider, focusing on data integration and scalability. &#8220;We started really as an e-commerce provider for a long time and focused on that because there was a lot of work to do and to establish a good foundation across data integrations,&#8221; Rosenfeld explained. With patents protecting their innovative software, Jane Technologies has become a leading e-commerce solution provider in the cannabis industry.
However, the cannabis retail market is limited, with fewer retailers compared to other industries. To continue growing, the company expanded vertically, venturing into adjacent areas. &#8220;We introduced a very large ads business and infrastructure,&#8221; Rosenfeld said, detailing their expansion into point-of-sale (POS) systems, self-service kiosks and consumer rewards programs like Jane Gold.
<h3 class="wp-block-heading">A Spotify-Like Experience&nbsp;</h3>
One of Jane Technologies&#8217; most revolutionary developments is the personalization of the cannabis shopping experience. Drawing comparisons to Netflix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) and Spotify (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>), Rosenfeld explains how machine learning algorithms are used to recommend products to customers based on their preferences. &#8220;Your Netflix is personalized, your YouTube's personalized, your Amazon is personalized. Cannabis should be no different.&#8221;
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="683" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17173844/Socrates-Rosenfeld-head-shot-3-1024x683.jpg" alt="" class="wp-image-601699" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17173844/Socrates-Rosenfeld-head-shot-3-1024x683.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17173844/Socrates-Rosenfeld-head-shot-3-300x200.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17173844/Socrates-Rosenfeld-head-shot-3-768x512.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17173844/Socrates-Rosenfeld-head-shot-3-1536x1024.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17173844/Socrates-Rosenfeld-head-shot-3.jpg 1620w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Socrates Rosenfeld &#8211; Courtesy of Jane Technologies. </figcaption></figure>
Much like how Spotify curates playlists based on user preferences, Jane Technologies' platform creates customized cannabis menus for each consumer.&nbsp;
This personalized approach ensures that the right products are recommended at the right time, optimizing the shopping experience. &#8220;If you consume a strain and I consume the same product, we're going to feel differently based on our endocannabinoid systems. That&#8217;s why personalization is key.&#8221;
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41382006/hemp-thrives-in-texas-shops-near-schools-why-this-company-bet-on-the-countrys-most-regulated-can">Hemp Thrives In Texas Shops Near Schools: Why This Company Bet On The Country&#8217;s Most Regulated Cannabis Market</a>
<h3 class="wp-block-heading">Jane Gold: A Win-Win-Win Approach</h3>
One of Jane Technologies' standout innovations is Jane Gold, a consumer rewards program that bridges the gap between brands, retailers and consumers. Historically, brands offering discounts had little insight into who their customers were. With Jane Gold, that changes.
&#8220;Wyld [a top edibles brand], for example, can now directly interact with customers through the Jane platform, rewarding them with discounts while building a direct relationship,&#8221; Rosenfeld explained.:
This system benefits everyone involved. Consumers enjoy discounts on their favorite products, retailers attract more foot traffic and brands gain valuable consumer data, enabling them to target their marketing efforts more effectively. 
&#8220;It's a win-win-win. The customer wins, the store wins, and the brand wins,&#8221; Rosenfeld told Benzinga.
<h3 class="wp-block-heading">POS And Kiosks: Enhancing The Retail Experience</h3>
Jane Technologies&#8217; POS solutions integrate seamlessly into the cannabis retail environment, creating a more efficient and personalized shopping experience. &#8220;We've been cataloging every single SKU in every single state market at every dispensary we power. This allows us to cleanse and standardize product data across different retailers,&#8221; he said.
By linking the POS system with its extensive data catalog, Jane Technologies enables retailers to offer personalized recommendations to in-store customers. &#8220;When you walk into a store, we know who you are, and we can push that information to the budtenders. They can see which products you've liked in the past and recommend similar ones.&#8221;
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="754" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17173942/Jane_Technologies_POS-1-1024x754.jpg" alt="" class="wp-image-601703" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17173942/Jane_Technologies_POS-1-1024x754.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17173942/Jane_Technologies_POS-1-300x221.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17173942/Jane_Technologies_POS-1-768x566.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17173942/Jane_Technologies_POS-1.jpg 1466w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">The Jane POS connects the online and in-store cannabis experience.</figcaption></figure>
Their self-service kiosks further streamline the in-store experience, allowing customers to place orders without interacting with a budtender. &#8220;If you don't want to talk to a budtender and there's a long line, you can use the kiosk to get the same curated experience as you would online.&#8221;
Read Also: <a href="https://www.benzinga.com/news/24/09/40941818/how-this-cheese-aging-tech-is-boosting-profits-for-cannabis-growers-stop-throwing-cheddar-out-the-do">How This Cheese-Aging Tech Is Boosting Profits For Cannabis Growers: Stop Throwing Cheddar Out The Door</a>
<h3 class="wp-block-heading">Future Growth Strategy</h3>
&#8220;We don&#8217;t need to subsidize our growth through outside investment. We're growing based on our ability to generate revenue and profit,&#8221; he explained.
Their focus on reinvesting profits into the business allows them to remain independent and sustainable while continuing to innovate and expand into new markets. &#8220;We're not playing the same game as other companies. We're playing our music,&#8221; Rosenfeld said.
Read Next:<a href="https://www.benzinga.com/general/biotech/23/08/33579692/cannabis-robots-meet-the-company-boosting-efficiency-and-margins-through-packaging-automation"> Cannabis Robots: Meet The Company Boosting Efficiency And Margins Through Packaging Automation</a>

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This Tech Company Is Turning Cannabis Shopping Into Spotify - Are Retailers Ready?

Amazon.com Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) AWS unit CEO, Matt Garman, has staunchly defended the company&#8217;s contentious new five-day in-office policy, suggesting that those who oppose it may consider other employment options.
What Happened: According to a Reuters report on Thursday, Garman communicated this during an all-hands meeting for AWS. He stated that the majority of workers he interacted with are in favor of the return-to-office policy, set to take effect in January. 
&#8220;If there are people who just don&#8217;t work well in that environment and don&#8217;t want to, that&#8217;s okay, there are other companies around,&#8221; Garman expressed.
A significant number of Amazon&#8217;s employees have voiced their dissatisfaction with the policy, arguing that it unnecessarily extends commuting time and that the advantages of office work are not backed by independent data. Previously, Amazon had a three-day in-office policy. However, last month, CEO Andy Jassy announced the shift to a five-day policy to &#8220;invent, collaborate and be connected.&#8221;
Garman maintained that the company&#8217;s objectives were hard to accomplish if employees showed up only for three days at the office. He also implied that adhering to the company&#8217;s leadership principles was a challenge under the current policy.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41308908/man-who-accidentally-threw-hard-drive-containing-8-000-bitcoins-worth-half-a-billion-dolla?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Man Who Accidentally Threw Hard Drive Containing 8,000 Bitcoins Worth Half A Billion Dollars In Landfill Sues Local City Council For Not Excavating The Site</a>
Why It Matters: This move follows a series of events where Amazon&#8217;s return-to-office policy has been in the spotlight. In September, Amazon announced the <a href="https://www.benzinga.com/news/large-cap/24/09/40930357/amazon-ends-remote-work-former-employee-asks-if-this-is-the-companys-version-of-silent-sacking">end of its work-from-home regime</a>. This decision drew significant attention, with some former employees questioning the company&#8217;s motives.
Shortly after, a survey revealed that 73% of Amazon employees were <a href="https://www.benzinga.com/markets/equities/24/09/41086177/amazon-ceo-andy-jassy-faces-employee-revolt-over-full-time-return-to-office-mandate-73-consider-">considering quitting</a> due to the new in-office work policy.
This discontent among employees contrasts with companies like Spotify Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>), which continues to <a href="https://www.benzinga.com/24/10/41267394/amazon-style-return-to-office-policy-doesnt-await-spotify-employees-cant-spend-a-lot-of-time-hiring">support a work-from-anywhere policy</a>.
Spotify&#8217;s chief human resources officer, Katarina Berg, said this month, &#8220;You can't spend a lot of time hiring grown-ups and then treat them like children.&#8221;
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/10/41309072/apple-poured-1b-a-year-into-its-car-project-before-abandoning-it-tim-cooks-company-now-pulls-plug-on?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple Poured $1B A Year Into Its Car Project Before Abandoning It. Tim Cook&#8217;s Company Now Pulls Plug On Autonomous Vehicle Testing Permit In California: Here&#8217;s More</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

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Amazon AWS CEO Stands Firm On 5-Day Office Policy — Opponents Can Head For The Exit Door: 'There Are Other Companies Around'

Investors with a lot of money to spend have taken a bearish stance on Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with SPOT, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 11 uncommon options trades for Spotify Technology.
This isn't normal.
The overall sentiment of these big-money traders is split between 36% bullish and 63%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $153,180, and 7 are calls, for a total amount of $1,058,860.
<h3>Expected Price Movements</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $280.0 to $430.0 for Spotify Technology during the past quarter. 
<h3>Volume &amp; Open Interest Development</h3>
In today's trading context, the average open interest for options of Spotify Technology stands at 382.7, with a total volume reaching 1,220.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Spotify Technology, situated within the strike price corridor from $280.0 to $430.0, throughout the last 30 days.
<h3>Spotify Technology Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1729193572_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>SPOT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$11.45</td>
<td>$11.05</td>
<td>$11.1</td>
<td>$400.00</td>
<td>$388.5K</td>
<td style="text-align: right;">264</td>
<td style="text-align: right;">353</td>
</tr>
<tr>
<td>SPOT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/19/25</td>
<td>$48.8</td>
<td>$48.8</td>
<td>$48.8</td>
<td>$430.00</td>
<td>$253.7K</td>
<td style="text-align: right;">86</td>
<td style="text-align: right;">52</td>
</tr>
<tr>
<td>SPOT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/19/25</td>
<td>$49.8</td>
<td>$48.8</td>
<td>$48.8</td>
<td>$430.00</td>
<td>$146.4K</td>
<td style="text-align: right;">86</td>
<td style="text-align: right;">82</td>
</tr>
<tr>
<td>SPOT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$2.41</td>
<td>$1.59</td>
<td>$2.1</td>
<td>$377.50</td>
<td>$107.5K</td>
<td style="text-align: right;">533</td>
<td style="text-align: right;">550</td>
</tr>
<tr>
<td>SPOT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$99.8</td>
<td>$98.0</td>
<td>$98.0</td>
<td>$280.00</td>
<td>$98.0K</td>
<td style="text-align: right;">435</td>
<td style="text-align: right;">10</td>
</tr>
</tbody>
</table>

<h3>About Spotify Technology</h3>
Spotify, headquartered in Stockholm, Sweden, is one of the world's largest music streaming service providers, with 602 million monthly active users at the end of 2023. The firm monetizes its users through a paid subscription model, referred to as its premium service, and an ad-based model, referred to as its ad-supported service. Revenue from premium and ad-supported services represented 86% and 14% of Spotify's 2023 total revenue, respectively.
After a thorough review of the options trading surrounding Spotify Technology, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Current Position of Spotify Technology</h3>
<ul>
<li>Currently trading with a volume of 748,814, the SPOT's price is down by -0.43%, now at $370.1. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 26 days.</li>
</ul>
<h3>What The Experts Say On Spotify Technology</h3>
In the last month, 5 experts released ratings on this stock with an average target price of $423.6.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Neutral with a new price target of $340. 
&#x2A; Maintaining their stance, an analyst from Keybanc continues to hold a Overweight rating for Spotify Technology, targeting a price of $490. 
&#x2A; An analyst from Rosenblatt persists with their Buy rating on Spotify Technology, maintaining a target price of $438. 
&#x2A; Consistent in their evaluation, an analyst from Pivotal Research keeps a Buy rating on Spotify Technology with a target price of $510. 
&#x2A; In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Neutral, setting a price target of $340. 
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Spotify Technology options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

This Is What Whales Are Betting On Spotify Technology

Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) has outperformed the market over the past 5 years by 11.38% on an annualized basis producing an average annual return of 25.7%. Currently, Spotify Technology has a market capitalization of $74.36 billion. 
Buying $1000 In SPOT: If an investor had bought $1000 of SPOT stock 5 years ago, it would be worth $3,111.85 today based on a price of $370.31 for SPOT at the time of writing.
<h3>Spotify Technology's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1729179078_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Trading Ideas

If You Invested $1000 In This Stock 5 Years Ago, You Would Have $3,100 Today

Rosenblatt analyst Barton Crockett maintains Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) with a Buy and raises the price target from $399 to $438.

Price Target

Analyst Ratings

Rosenblatt Maintains Buy on Spotify Technology, Raises Price Target to $438

Media stocks are set to benefit from advertising spend by politicians, presidential debates and media appearances by presidential candidates during the <a href="https://www.benzinga.com/topic/2024-election">2024 election cycle.</a>
Music streaming platform Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) could turn out to be one of the underrated winners of the election season if it can grab interviews with both presidential candidates on one of the company's popular podcasts.
What Happened: Both Vice President Kamala Harris and Donald Trump are rumored to be making appearances on "The Joe Rogan Experience" podcast ahead of the <a href="https://www.benzinga.com/general/entertainment/24/10/41324364/kamala-harris-eyes-appearance-on-joe-rogan-experience-to-appeal-to-male-voters-as-president">2024 presidential election.</a>
Trump, who has never appeared on the podcast, <a href="https://x.com/nelkboys/status/1845292385850540122">confirmed </a>his appearance during an appearance on the "Full Send" podcast.
Harris is rumored to be considering going on the podcast as she continues<a href="https://www.benzinga.com/general/entertainment/24/10/41214476/will-kamala-harriss-media-blitz-including-60-minutes-and-call-her-daddy-improve-her-2024-el"> her media blitz </a>that has included appearances on television and podcasts in recent weeks, targeting multiple different voter demographics.
"The Joe Rogan Experience" podcast, hosted by Joe Rogan, is among the top listened-to podcasts in the U.S. and a major subscriber driver for Spotify. The music company said earlier this year Rogan <a href="https://www.benzinga.com/news/24/03/37886499/joe-rogan-dominates-spotify-podcast-scene-with-triple-the-followers-of-nearest-competitor">had 14.5 million followers</a> on the platform. Rogan has been number one on Spotify for <a href="https://www.benzinga.com/general/entertainment/23/11/36004998/joe-rogan-tops-spotifys-2023-podcasts-list-once-again-deal-likely-to-expire-in-2024-a-major">four straight years.</a>
Rogan has been exclusive to Spotify since 2020 and earlier this year <a href="https://www.benzinga.com/markets/equities/24/02/36914209/spotify-inks-multiyear-deal-with-podcast-king-joe-rogan-amid-shifting-strategy">signed a multiyear renewal</a> worth a reported $250 million.
While Rogan will likely get huge viewership figures ahead of the 2024 election as he talks about political topics and has noteworthy guests, drawing one or both of Trump and Harris, who have never appeared on the podcast, could be among the most highly anticipated shows in his history.
Spotify could stand to benefit as the company might see a boost in subscribers, target advertising dollars and offer bundles ahead of the podcast appearances to take advantage of the interviews.
While Trump has often commanded strong viewership figures for his media appearances, Harris recently helped "The View" post its best ratings in three and a half years. Harris' appearance on the Oct. 8 episode averaged 3.14 million, marking the most watched episode of the daytime show since Feb. 2021, as reported by <a href="https://variety.com/2024/tv/news/kamala-harris-the-view-ratings-best-1236179122/">Variety</a>.
The strong viewership helped "The View" win the week for total viewers among its peers.
While Trump confirmed his appearance, consumers aren't convinced Harris will make an appearance with the sometimes controversial Rogan. A prediction market on Polymarket <a href="https://polymarket.com/event/will-kamala-go-on-joe-rogan-before-election">lists </a>a 33% chance of Harris going on the podcast.
On Polymarket, users can deposit funds using&nbsp;USDC&nbsp;(CRYPTO:&nbsp;<a href="https://www.benzinga.com/quote/">USDC</a>) via the&nbsp;Polygon&nbsp;(CRYPTO:&nbsp;<a href="https://www.benzinga.com/quote/matic/usd">MATIC</a>) network, or directly from a crypto account with&nbsp;Ethereum&nbsp;(CRYPTO:&nbsp;<a href="https://www.benzinga.com/quote/eth/usd">ETH</a>). In each betting market, the winning option pays out at $1.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent101624">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Spotify Growth Potential: An appearance by Harris and/or Trump on "The Joe Rogan Experience" could help boost the growth prospects for Spotify, but an analyst sees future growth coming without either interview.
KeyBanc Capital Markets analyst Justin Patterson reiterated an Overweight rating and raised the price target on Spotify from $440 to $490.
The analyst said Spotify is "finding the sweet spot of growth and margin."
Spotify reports third-quarter financial results on Nov. 12, which is coincidentally a week after the 2024 election.
With improved growth and profitability, the analyst raises estimates for several financial metrics ahead of the earnings print.
Patterson sees Spotify reporting net adds of 13 million monthly active users and 5 million premium subscribers.
"Given less disruption from bundles, we believe Spotify could outperform both metrics."
The analyst said there could be some upside in guidance based on bundle rollouts. Patterson is also bullish on a potential coming catalyst that could be announced by the company soon.
"There are growing signs that a high-end plan will be launched in the coming months."
Patterson said revenue growth, steady margin expansion and capital returns are all items that could help send Spotify shares higher.
"We continue to believe there is meaningful upside to Street profitability forecasts. We continue to view valuation as compelling.
SPOT Price Action: Spotify shares closed down 0.24% to $371.69 on Wednesday versus a 52-week trading range of $145.76 to $389.23. Spotify stock is up 96% year-to-date in 2024.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/sports-betting/24/10/41347270/trump-vs-harris-2024-election-polls-sportsbooks-betting-odds-show-different-winners-for-20">Trump Vs. Harris: 2024 Election Polls, Sportsbooks Betting Odds Show Different Winners For 2024 Election</a></li>
</ul>
Photo: Courtesy Joe Rogan Experience

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Trump, Harris Consider Joe Rogan Podcast: Could Spotify Ride 2024 Election Wave? Analyst Says Company In 'Sweet Spot Of Growth'

Keybanc analyst Justin Patterson maintains Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) with a Overweight and raises the price target from $440 to $490.

Keybanc Maintains Overweight on Spotify Technology, Raises Price Target to $490

Tesla and SpaceX CEO&nbsp;Elon Musk has expressed his appreciation for the growth of&nbsp;Spotify Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) in the audiobook industry.
What Happened:&nbsp;On Tuesday, Spotify CEO Daniel Ek took to X, formerly Twitter, and provided an update on the platform&#8217;s audiobook feature, which was introduced a year ago for premium users.
Ek said that Spotify has paid out hundreds of millions to publishers and has doubled its catalog.
&#8220;Our catalog has doubled to 300,000 titles. We know that our listeners are loving bestsellers, but they are also very excited to be discovering backlist titles too,&#8221; he stated.
See Also: <a href="https://www.benzinga.com/news/24/10/41307824/nvidia-ceo-jensen-huang-praises-elon-musk-for-achieving-something-with-xai-in-19-days-that-usually-t?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia CEO Jensen Huang Praises Elon Musk For Achieving Something With xAI In 19 Days That Usually Takes At Least A Year</a>
Ek also highlighted that over&nbsp;58% of audiobook listeners are&nbsp;aged between 18 and 34.
Additionally, Spotify has broadened its audiobook service to non-English markets,&nbsp;including France, Belgium, the Netherlands,&nbsp;and Luxembourg.
Musk responded to Ek&#8217;s update with a simple, &#8220;Cool.&#8221;
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Cool
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1846228649868923116?ref_src=twsrc%5Etfw">October 15, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: In July, Spotify reported a 20% year-over-year increase in revenue for the fiscal second quarter of 2024, reaching $4.099 billion, which fell short of the <a href="https://www.benzinga.com/news/earnings/24/07/39902936/spotifys-q2-earnings-revenue-grows-20-as-premium-revenue-surge-drives-higher-average-revenue-per-us">analyst forecast of $4.17 billion</a>.
Earlier this week, Spotify also expanded its <a href="https://www.benzinga.com/news/24/10/41339785/spotify-rolls-out-music-videos-to-85-markets-boosting-engagement-for-premium-users">music video feature to 85 additional markets</a>, aiming to deepen the connection between fans and artists by combining audio and visual content.
Spotify has advanced by introducing new features such as Countdown Pages, Clips, and Artist Profiles.
The platform&#8217;s total Monthly Active Users (MAUs) increased by 14%, reaching 626 million. It also reported 246 million Premium subscribers, while ad-supported MAUs saw a 15% rise, totaling 393 million.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Elon Musk Applauds Spotify After Streaming Giant Reveals Its Audiobook Catalog Has Doubled To 300K Titles

Spotify Technology SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) has expanded its music video feature, initially launched in beta, to <a target="_blank" href="https://newsroom.spotify.com/2024-10-15/music-videos-in-beta-brings-an-improved-viewing-experience-to-new-markets/#:~:text=Here's%20how%20it%20works%3A,right%20where%20you%20left%20off." rel="noreferrer noopener">85 additional markets</a>.
The rollout gives Premium subscribers in these markets access to a growing library of music videos from a wide range of artists, including Charli XCX, LISA, and Fontaines D.C.
The streaming platform aims to deepen the connection between fans and artists by combining audio and visual content.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/10/41137657/spotify-ceo-daniel-ek-says-he-stays-away-from-sports-competition-with-facebook-co-founder-mark-zucke" rel="noreferrer noopener">Spotify CEO Daniel Ek Says He Stays Away From Sports Competition With Facebook Co-Founder Mark Zuckerberg: &#8216;I Know It&#8217;ll End Badly For Both Of Us&#8217;</a>
The expansion follows the positive response from the 12 initial markets where Spotify introduced music videos earlier this year.
Music videos will likely boost user engagement, with listeners being 34% more likely to re-stream a song after watching its video. Songs discovered with videos are also more likely to be saved or shared the following week.
Spotify is enhancing the music video experience with new features that allow users to switch seamlessly between audio tracks and music videos on mobile and desktop devices.
As the company continues to evolve, Spotify plans to expand its music video catalog, reaching more markets over the coming weeks.
Additionally, Spotify has made strides in adding features like Countdown Pages, Clips, and Artist Profiles.
Spotify stock has surged 134% in the last 12 months. The company clocked <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39902936/spotifys-q2-earnings-revenue-grows-20-as-premium-revenue-surge-drives-higher-average-revenue-per-us" rel="noreferrer noopener">fiscal second-quarter 2024</a> topline growth of 20% to $4.099 billion, missing the analyst estimate of&nbsp;$4.170 billion.&nbsp;
Total MAUs (Monthly Active Users) rose 14%&nbsp;to 626&nbsp;million. It reported 246 million Premium subscribers. Ad-supported MAUs grew 15% to 393 million.
Key positive analyst views on Spotify:
Goldman Sachs analyst Eric Sheridan flagged Spotify as the undisputed <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41215414/goldman-sachs-raises-forecast-on-spotify-cites-user-engagement-growth-and-potential" rel="noreferrer noopener">global audio platform leader</a>, outperforming the S&amp;P 500. The analyst highlighted the potential revenue contribution from a deluxe tier for Spotify over the long term.
Recently, Jefferies identified Spotify as a <a target="_blank" href="https://www.benzinga.com/general/entertainment/24/10/41323029/netflix-one-of-the-key-beneficiaries-of-60b-anime-boom-says-jefferies-here-are-the-others" rel="noreferrer noopener">key beneficiary of</a> the thriving anime industry, which has the potential to reach a valuation of $60.1 billion by 2030 from $31.2 billion in 2023. The analysts noted the global entertainment industry&#8217;s growing focus on anime-related businesses.
Price action:&nbsp;SPOT stock is down 0.48% at $370.70 at the last check on Tuesday.
Also Read:
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<li><a href="https://www.benzinga.com/general/entertainment/24/08/40470764/spotify-boasts-395-surge-in-anime-music-streams-teams-up-with-crunchyroll" target="_blank" rel="noreferrer noopener">Spotify Boasts 395% Surge In Anime Music Streams, Teams Up With Crunchyroll</a></li>
</ul>
Photo courtesy: Spotify

Spotify Rolls Out Music Videos to 85 Markets, Boosting Engagement for Premium Users

Jefferies, a global investment bank, has identified three major companies that are poised to benefit from the booming anime industry, which is expected to <a href="https://www.benzinga.com/markets/equities/24/10/41274383/why-is-japanese-anime-production-company-bloomz-stock-jumping-on-thursday">reach a value of $60 billion by 2030</a>.
What Happened: The investment bank has pointed out Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>), Sony Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>), and Bandai Namco (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NCBDF#OTC">NCBDF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NCBDY#OTC">NCBDY</a>) as the top beneficiaries of the expanding anime market, <a href="https://www.cnbc.com/2024/10/15/netflix-and-more-jefferies-names-stocks-set-to-benefit-from-a-60-billion-anime-boom.html">reported</a> CNBC.
Jefferies&#8217; analysts noted that the global entertainment industry is increasingly focusing on anime-related businesses as a core part of their growth strategies. The primary driver of this trend is the rapid expansion of the overseas market, which has grown to match the size of the Japanese market since the onset of the COVID-19 pandemic.
According to the analysts, &#8220;anime has become a mainstream culture in the U.S./Europe, with significant potential for expansion,&#8221; with significant potential for further expansion. They anticipate the market to double from $31.2 billion in 2023 to $60.1 billion by 2030.
The analysts predict that this growth will be driven by increased anime distribution on streaming platforms and a surge in licensing revenues from merchandise and advertising use.
Jefferies also highlighted the significant global impact of Japanese anime IP, with the top six franchises generating a combined revenue of $311 billion, dwarfing the Marvel Cinematic Universe&#8217;s $30 billion.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41306653/anthony-scaramucci-praises-trump-for-shifting-the-crypto-debate-hes-now-forced-the-democra?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Anthony Scaramucci Praises Trump For Shifting The Crypto Debate: &#8216;He&#8217;s Now Forced The Democrats To Come Back Into The Middle&#8217;</a>
Netflix, which has been actively licensing and funding several anime series, is expected to continue its anime strategy into the foreseeable future. Sony Group, described as a leader in anime production and streaming, is also set to benefit from the anime market. 
Bandai Namco, known for leveraging anime IP for various products and digital games, is experiencing rising anime IP popularity through overseas sales expansion. It has produced popular games like the Shonen Jump series and Dragon Ball franchise.
Why It Matters: The anime industry has been experiencing significant growth and diversification, with companies like BloomZ Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLMZ#NASDAQ">BLMZ</a>) <a href="https://www.benzinga.com/markets/equities/24/10/41274383/why-is-japanese-anime-production-company-bloomz-stock-jumping-on-thursday">expanding their revenue streams</a> through strategic acquisitions and project rights. 
This growth has also been reflected in the music industry, with Spotify Technology SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) <a href="https://www.benzinga.com/general/entertainment/24/08/40470764/spotify-boasts-395-surge-in-anime-music-streams-teams-up-with-crunchyroll">reporting a 395% surge</a> in anime music streams since 2021.
Meanwhile, Sony Group has been actively <a href="https://www.benzinga.com/general/gaming/24/07/39736917/sony-pocketpair-collaborate-to-expand-palworlds-global-presence">expanding its global presence</a> in the gaming industry through strategic collaborations, further solidifying its position in the anime market. 
This growth, however, has also raised concerns about copyright infringement, as seen in the case of a <a href="https://www.benzinga.com/markets/asia/23/09/34368362/japanese-youtuber-faces-jail-time-for-monetizing-gameplay-videos">Japanese YouTuber who was sentenced</a> to two years in prison for monetizing gameplay videos without permission from publishers.
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Image Via Pixabay
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Equities

BLMZ

NCBDF

NCBDY

Sony Group Corporation American Depositary Shares

SONY

Netflix One Of The Key Beneficiaries Of $60B Anime Boom, Says Jefferies — Here Are The Others

High-rolling investors have positioned themselves bearish on Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>), and it's important for retail traders to take note. 
\This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in SPOT often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for Spotify Technology. This is not a typical pattern.
The sentiment among these major traders is split, with 37% bullish and 50% bearish. Among all the options we identified, there was one put, amounting to $60,060, and 7 calls, totaling $303,545.
<h3>Expected Price Movements</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $350.0 to $410.0 for Spotify Technology over the recent three months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Spotify Technology's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Spotify Technology's significant trades, within a strike price range of $350.0 to $410.0, over the past month.
<h3>Spotify Technology Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728666218_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>SPOT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$5.6</td>
<td>$5.5</td>
<td>$5.55</td>
<td>$377.50</td>
<td>$101.0K</td>
<td>121</td>
<td style="text-align: right;">184</td>
</tr>
<tr>
<td>SPOT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$2.2</td>
<td>$2.04</td>
<td>$2.2</td>
<td>$365.00</td>
<td>$60.0K</td>
<td>1.4K</td>
<td style="text-align: right;">398</td>
</tr>
<tr>
<td>SPOT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$12.45</td>
<td>$11.0</td>
<td>$11.0</td>
<td>$410.00</td>
<td>$48.4K</td>
<td>1.6K</td>
<td style="text-align: right;">103</td>
</tr>
<tr>
<td>SPOT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$2.92</td>
<td>$2.91</td>
<td>$2.92</td>
<td>$385.00</td>
<td>$40.6K</td>
<td>1.7K</td>
<td style="text-align: right;">145</td>
</tr>
<tr>
<td>SPOT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$12.45</td>
<td>$10.5</td>
<td>$11.05</td>
<td>$410.00</td>
<td>$29.8K</td>
<td>1.6K</td>
<td style="text-align: right;">130</td>
</tr>
</tbody>
</table>

<h3>About Spotify Technology</h3>
Spotify, headquartered in Stockholm, Sweden, is one of the world's largest music streaming service providers, with 602 million monthly active users at the end of 2023. The firm monetizes its users through a paid subscription model, referred to as its premium service, and an ad-based model, referred to as its ad-supported service. Revenue from premium and ad-supported services represented 86% and 14% of Spotify's 2023 total revenue, respectively.
After a thorough review of the options trading surrounding Spotify Technology, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Present Market Standing of Spotify Technology</h3>
<ul>
<li>Currently trading with a volume of 403,128, the SPOT's price is down by -0.97%, now at $374.34. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 32 days.</li>
</ul>
<h3>What The Experts Say On Spotify Technology</h3>
Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $407.5.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Consistent in their evaluation, an analyst from Pivotal Research keeps a Buy rating on Spotify Technology with a target price of $510. 
&#x2A; Consistent in their evaluation, an analyst from Keybanc keeps a Overweight rating on Spotify Technology with a target price of $440. 
&#x2A; In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Neutral, setting a price target of $340. 
&#x2A; Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Neutral with a new price target of $340.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Spotify Technology options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Spotify Technology's Options Frenzy: What You Need to Know

Spotify Technology SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) is sticking to its work-from-anywhere policy, diverging from the trend of companies such as Amazon.com Inc. that are <a href="https://www.benzinga.com/markets/equities/24/09/41086177/amazon-ceo-andy-jassy-faces-employee-revolt-over-full-time-return-to-office-mandate-73-consider-">calling employees back to the office</a>. 
What Happened:&nbsp;Spotify&#8217;s chief human resources officer, Katarina Berg, emphasized in an <a href="https://www.raconteur.net/talent-culture/spotify-chro-office-return-layoffs-hr-role">interview</a> with Raconteur, that work is not limited to a specific location.
Berg stated, &#8220;You can&#8217;t spend a lot of time hiring grown-ups and then treat them like children,&#8221; reinforcing Spotify&#8217;s stance on flexibility. The company introduced its WFA policy in February 2021, allowing employees to choose between working from home, the office, or a hybrid model.
Spotify&#8217;s policy has reportedly led to a 15% reduction in employee attrition and enhanced workplace diversity by 2022, as <a href="https://fortune.com/2022/08/02/spotify-allowed-6500-employees-work-from-anywhere-in-world-turnover-rate-dropped-remote-work/">noted</a> by Fortune. Despite the challenges of virtual collaboration, Spotify is collaborating with the Stockholm School of Economics to study remote work&#8217;s impact on innovation.
While companies like Goldman Sachs Group Inc. and JPMorgan Chase &amp; Co. <a href="https://www.benzinga.com/real-estate/23/09/34621058/no-more-wfh-goldman-sachs-asks-employees-to-return-to-office-5-days-a-week-and-its-not-alone">enforce in-office schedules</a>, Spotify remains committed to its flexible approach, resisting the trend of increased office attendance.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41200679/len-sassaman-is-bitcoin-creator-satoshi-nakamoto-in-hbo-documentary-polymarket-punters-see?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Len Sassaman Is Bitcoin Creator Satoshi Nakamoto In HBO Documentary? Polymarket Punters See High Probability</a>
Why It Matters: The decision by Spotify to maintain its WFA policy comes at a time when <a href="https://www.benzinga.com/markets/equities/24/10/41157629/google-assures-employees-its-not-about-to-pull-off-an-amazon-on-them-when-it-comes-to-work-from-">many companies are reversing remote work policies</a>. Google has also assured employees it will not follow Amazon&#8217;s strict return-to-office mandate, highlighting a divide in corporate strategies.
Amazon&#8217;s recent decision to require employees to return to the office full-time has sparked concern among its workforce, with a survey <a href="https://www.benzinga.com/markets/equities/24/09/41086177/amazon-ceo-andy-jassy-faces-employee-revolt-over-full-time-return-to-office-mandate-73-consider-">indicating that 73% of Amazon employees</a> are considering leaving due to the policy. 
This trend is part of a broader movement where some companies <a href="https://www.benzinga.com/24/07/39945751/bosses-admit-using-return-to-office-mandate-to-get-workers-to-quit-survey">use return-to-office mandates</a> as a strategy to encourage voluntary turnover, as noted in a survey by Bamboo HR.
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Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Amazon-Style Return To Office Policy Doesn't Await Spotify Employees: 'Can't Spend A Lot Of Time Hiring Grown-Ups And Then Treat Them Like Children'

Goldman Sachs analyst Eric Sheridan maintained a Buy rating on Spotify Technology SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) and a price target of $430 (up from $425).
Ahead of its third-quarter 2024 earnings report, Sheridan previewed current industry data, addressed key investor debates, and highlighted the potential revenue contribution from a deluxe tier for Spotify over the long term.
Since its last earnings report, Spotify stock has outperformed (+13% versus the SPX +2% over the same period), which continues a pattern of the past 12 months with Spotify stock +142% versus the SPX +35%, the analyst noted.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/09/41095043/spotify-recovers-after-3-hour-outage-impacting-thousands-of-users" rel="noreferrer noopener">Spotify Recovers After 3-Hour Outage Impacting Thousands of Users</a>
He said Spotify's stock performance is anchored around a few key narratives that continue to build momentum.
Spotify is the clear global audio platform leader, which Sheridan expects to translate into elements of scaled compounded user growth, rising engagement across multiple format structures, and pricing power for his operating forecast period.
Coming out of its late 2023 operating costs restructuring, Spotify is beginning to show much of the gross and operating margin trajectory that the company has discussed as medium or long-term goals dating back over the last 3-5 years, with forward opportunities around efficiencies, segment revenue scale, and yield or return from prior period investment cycles as drivers of outsized multi-year margin improvements in years to come
The analyst also flagged the potential for a more consistent shareholder return policy that closely mirrors its global TMT peer group in the coming years.
Going into this earnings report, Sheridan noted investors focused on management commentary on pricing and product decisions, gross margin results, and broader elements of the audio landscape in terms of broader platform scaling or evolution in the years ahead.
Sheridan projected fiscal 2024 revenue of 15.72 billion euros and EPS of 5.87 euros.
Price action:&nbsp;SPOT stock is down 1.94% at $364.24 at the last check Monday.
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</ul>
Photo by esthermm on Shutterstock

Eurozone

Goldman Sachs Raises Forecast On Spotify, Cites User Engagement Growth and Potential Deluxe Tier Revenue

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Cantor Fitzgerald analyst Deepak Mathivanan reiterates Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) with a Neutral and maintains $340 price target.

Cantor Fitzgerald Reiterates Neutral on Spotify Technology, Maintains $340 Price Target

Watching Shares Of Spotify, Wolfe Research Report Stating Co. Has Quietly Increased Prices In Canada, New Zealand, And Ireland

Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>), Warner Bros. Discovery, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) HBO Go and Walt Disney Co.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) Disney+ were affected by a law signed by President Ferdinand Marcos Jr. on Wednesday imposed a <a href="https://www.pna.gov.ph/articles/1234557" target="_blank" rel="noreferrer noopener">12% value-added tax</a> (VAT) on non-resident digital service providers to bring them up to par with local providers.
The law also affected Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google, Spotify Technology SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) and Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>).
The VAT on foreign digital services will likely contribute 105 billion pesos in revenue in the next five years.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/09/40840759/charter-warner-bros-deal-warner-adds-max-to-spectrum-tv-charter-pays-more-for-premium-channels" rel="noreferrer noopener">Charter-Warner Bros Deal: Warner Adds Max To Spectrum TV, Charter Pays More For Premium Channels</a>
Bureau of Internal Revenue (BIR) Commissioner Romeo Lumagui Jr. said the collected taxes go to the government&#8217;s infrastructure and social welfare services programs.
Streaming giant Netflix&#8217;s stock has increased 87% in the past 12 months as it continues to win market share with its diverse slate of content. JP Morgan&#8217;s Doug Anmuth highlighted <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40860759/netflixs-ad-tier-expansion-and-password-crackdown-fuel-revenue-growth-jp-morgan-ana" target="_blank" rel="noreferrer noopener">continued margin expansion</a> backed by content, ads and gaming investment. He also projected high-margin revenue from ad-supported tier and paid sharing.
Walt Disney stock is up close to 15% in the past 12 months. Goldman Sachs&nbsp;analyst Michael Ng expects&nbsp;Disney&#8217;s <a href="https://www.benzinga.com/news/24/09/41045649/disney-trims-workforce-by-300-targets-corporate-departments-for-cost-management" target="_blank" rel="noreferrer noopener">box office blockbusters</a>&nbsp;and streaming growth to help offset Experiences and linear weakness.
Price Actions: At publication Wednesday, Netflix stock was up 0.62% at $710.51 and Disney stock was down 0.29% at $93.78.
Also Read:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/41052867/disneys-streaming-surge-epic-games-deal-among-key-growth-drivers-says-analyst" target="_blank" rel="noreferrer noopener">Disney&#8217;s Streaming Surge, Epic Games Deal Among Key Growth Drivers, Says Analyst</a></li>
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Photo: Shutterstock

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Netflix, Disney+, Amazon Hit By Philippine's New 12% Tax On Digital Providers

Spotify Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) CEO Daniel Ek said he has chosen to steer clear of competing in sports with his long-time friend and&nbsp;Meta Platforms Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) CEO Mark Zuckerberg.
What Happened: During a conversation on Acquired Podcast that was posted on YouTube on Monday, Ek was asked if their relationship amplifies their competitiveness.
In response, the Spotify CEO said, &#8220;The&nbsp;rule I have with Mark&nbsp;is I don't try to&nbsp;go into a competition with&nbsp;him because I know it'll&nbsp;end badly for both of&nbsp;us.&#8221;
He went on to speak about Zuckerberg&#8217;s intense competitiveness, even to the point of sustaining injuries, which has discouraged him from engaging in sports with the Meta CEO.
&#8220;The last time he sort of tore his ACL with someone rather than giving up, so I feel like it would end pretty badly,&#8221; he said, adding, &#8220;I like playing when I know I'll win, so I think it's a pretty good thing not to do that.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/09/41108345/apples-satellite-messaging-feature-emerges-as-lifeline-after-hurricane-helene-leaves-thousands-witho?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple&#8217;s Satellite Messaging Feature Emerges As Lifeline After Hurricane Helene Leaves Thousands Without Cell Phone Service</a>
In the past few years, Zuckerberg has <a href="https://www.benzinga.com/news/23/09/34949713/from-evil-mark-to-great-philanthropist-meta-ceo-zuckerberg-opts-for-a-bill-gates-style-metamorphosis">embraced mixed martial arts</a> and surfing as new interests, giving him a fresh outlook and influencing his style along the way.
Last year in November it was reported that he&nbsp;<a href="https://www.benzinga.com/news/23/11/35604744/meta-ceo-mark-zuckerberg-tore-his-acl-while-training-for-a-competitive-mma-fight-undergoes-surgery">underwent surgery to repair</a> a torn knee ligament.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It&#8217;s Important: Sean Parker, an early investor in both Spotify and Facebook, introduced Ek and Zuckerberg in 2008. Their early talks focused on integrating Spotify with Facebook, a key move for the music-streaming platform&#8217;s growth when it was still invite-only.
In a separate interview last year, Ek <a href="https://www.forbes.com/sites/kerryadolan/2023/09/26/mark-gets-meta-zuckerberg-talks-ai-and-that-musk-mma-fight-thats-never-going-to-happen/?sh=4def5b513037">told</a> Forbes that Zuckerberg has learned from his experiences the good and bad, ignited fresh passion, and realized the need for responsible action.
&#8220;But there&#8217;s still some of the old Mark, where he is betting on things even though everyone tells him &#8216;this is never gonna work,'&#8221; he stated at the time.
The Spotify CEO was probably referring to <a href="https://www.benzinga.com/news/23/09/34789312/tesla-ceo-elon-musk-mocks-mark-zuckerbergs-36b-metaverse-gamble-genius-move">Zuckerberg's bold $100 billion investment</a> in the Metaverse. While this move initially shook Wall Street and Facebook's stock, the company has since rebounded.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="Acquired LIVE from Chase Center (with Daniel Ek, Emily Chang, Jensen Huang and Mark Zuckerberg)" width="500" height="281" src="https://www.youtube.com/embed/KVc7EVfWq3M?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/09/41086806/elon-musk-mocks-vinod-khosla-after-openai-investor-mixes-up-argentinas-poverty-and-unemployment-rate?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Mocks Vinod Khosla After OpenAI Investor Mixes Up Argentina&#8217;s Poverty And Unemployment Rates To Draw Parallels Between Javier Milei And Trump: &#8216;Vinod Is Just Actually Not Smart&#8217;</a></li>
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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Spotify CEO Daniel Ek Says He Stays Away From Sports Competition With Facebook Co-Founder Mark Zuckerberg: 'I Know It'll End Badly For Both Of Us'

SiriusXM (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/siri#NASDAQ">SIRI</a>) finds itself at a critical juncture in 2024. The satellite radio giant has experienced a dramatic 56.8% decline in its stock price year to date, underperforming the broader Zacks Consumer Discretionary sector&#39;s return of 4.9% and raising questions about its future prospects and whether this presents a prime buying opportunity for astute investors.
SiriusXM&#39;s recent stock decline due to market volatility, interest rate concerns and digital media disruption arguably offers an attractive entry point for value investors. The strategic acquisition of Pandora has catapulted SiriusXM to the forefront of audio entertainment, boasting an unparalleled North American listener base exceeding 100 million. This merger combines SiriusXM&#39;s robust subscription model with Pandora&#39;s lucrative ad-based platform, creating a diversified revenue stream. The synergistic alliance enables cross-platform content distribution, potentially amplifying user engagement, advertiser appeal, and content creator attraction. With its enhanced scale, diverse content portfolio, and dual-model approach, SiriusXM is uniquely positioned to capitalize on the evolving digital audio landscape, offering substantial growth potential for long-term investors.
<h2>Year-to-Date Performance</h2>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/f9/79824.jpg?v=382191643" style="height:310px; width:620px" />
Image Source: Zacks Investment Research
<h2>SIRI Expands Horizons in the Digital Audio Landscape</h2>
Despite a challenging stock performance, SiriusXM continues to demonstrate resilience and adaptability in the evolving audio entertainment landscape. The company&#39;s core business remains robust, with a dominant position in the in-vehicle audio entertainment space reinforced by long-standing partnerships with major automakers like Toyota and Ford. As the automotive industry shifts toward electric and autonomous vehicles, SiriusXM has strategically positioned itself as a key player in the future of in-car entertainment and information services.
SiriusXM&#39;s expansion beyond traditional satellite radio has been a game-changer. The company&#39;s investments in streaming capabilities and exclusive podcast content have allowed it to compete more effectively with pure-play streaming services. This diversification strategy has successfully tapped into younger demographics and expanded the subscriber base beyond car owners.
A significant milestone in this expansion was the launch of SiriusXM Podcasts+ in August. This new subscription service, available directly in Apple Podcasts, offers ad-free listening, exclusive bonus content and early access to new episodes of popular shows. The service includes high-profile podcasts like SmartLess and Last Podcast on the Left, among others. This move not only enhances SiriusXM&#39;s podcast offerings but also strengthens its position in the competitive podcast market.
The integration of artificial intelligence and machine learning into SiriusXM&#39;s platform has significantly improved its personalization capabilities. This technological advancement has enhanced user experience, increased listener engagement and improved retention rates. The ability to offer tailored content recommendations has become a key differentiator for SiriusXM in the crowded audio entertainment market.
From a valuation perspective, SiriusXM&#39;s current stock price presents an intriguing opportunity for long-term investors. The company&#39;s forward 12-month price-to-earnings (P/E) ratio of 7.05 is significantly below the Zacks Broadcast Radio and Television industry average of 28.57. While this discounted valuation could reflect market concerns, it also suggests a potential upside if the company continues to execute its growth strategy successfully.
<h2>SIRI&#39;s P/E F12M Ratio Depicts Discounted Valuation</h2>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/21/79826.jpg?v=511534816" style="height:310px; width:620px" />
Image Source: Zacks Investment Research
Looking ahead, SiriusXM is well-positioned to capitalize on emerging trends in the audio entertainment industry. The company&#39;s investments in voice-activated technology and integration with smart home devices are opening new avenues for growth. Moreover, SiriusXM&#39;s exploration of interactive and visual elements to complement its audio offerings could revolutionize consumer engagement with radio content.
SiriusXM&#39;s commitment to exclusive content remains a strong selling point. Recent high-profile deals with popular podcasters like Alex Cooper and musicians, including Coldplay, Eric Church, and Jelly Roll, have further enriched its content library, appealing to a diverse audience.
While challenges persist, including navigating the evolving landscape of digital rights and royalties, SiriusXM&#39;s management has demonstrated adaptability and forward-thinking leadership. The company&#39;s efforts to streamline its technology infrastructure and embrace cloud-based solutions are expected to yield operational efficiencies and cost savings in the coming years.
Despite a projected 2.19% year-over-year decline in revenues for 2024, with the Zacks Consensus Estimate pegged at $3.25 billion, the consensus estimate for earnings has moved up by 3.8% to $3.25 per share over the past 30 days. This suggests growing optimism about SiriusXM&#39;s profitability, even in a challenging market environment.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/53/79825.jpg?v=426833867" style="height:310px; width:620px" />
Image Source: Zacks Investment Research
<h2>Tesla to Spotify: SIRI&#39;s Rivals Spell Trouble</h2>
Sirius XM faces intense competition in an increasingly competitive and rapidly evolving audio entertainment landscape, raising concerns about its future viability.
SiriusXM&#39;s traditional stronghold &mdash; the automotive sector &mdash; is facing unprecedented disruption. The rise of electric vehicles (EVs) and autonomous driving technology has opened the door for tech giants and innovative startups to challenge SiriusXM&#39;s once-unassailable position in in-car entertainment. Tesla, for instance, has been equipping its vehicles with its own entertainment system, bypassing traditional satellite radio altogether.
The streaming audio market, once viewed as a complementary service to SiriusXM&#39;s core business, has now become an existential threat. Spotify (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spot#NYSE">SPOT</a>), Apple&nbsp;Music and Amazon Music have continued to expand their user bases, offering personalized playlists, exclusive content and seamless integration across multiple devices.
While SiriusXM has invested heavily in podcast content and technology, it faces fierce competition from dedicated podcast platforms like Spotify and Apple Podcasts, as well as newcomers like Substack and Patreon, which offer creators more control and monetization options.
<h2>Conclusion</h2>
While SiriusXM&#39;s stock performance so far in 2024 has been disappointing, the company&#39;s strong market position, innovative strategies and dual-model approach make it an intriguing option for investors with a longer time horizon. The current dip in stock price could indeed represent a buying opportunity for those who believe in the company&#39;s ability to navigate the changing media landscape and capitalize on emerging technologies. SiriusXM currently sports a Zacks Rank #1 (Strong Buy).
<a href="https://www.zacks.com/stock/news/2344059/siriusxm-stock-tanks-56-8-year-to-date-time-to-buy-the-dip?cid=CS-BENZ-FT-analyst_blog|most_popular_stocks-2344059">To read this article on Zacks.com click here.</a>

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SIRI

SiriusXM Stock Tanks 56.8% Year to Date: Time to Buy the Dip?

Whales with a lot of money to spend have taken a noticeably bullish stance on Spotify Technology.
Looking at options history for Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) we detected 26 trades.
If we consider the specifics of each trade, it is accurate to state that 65% of the investors opened trades with bullish expectations and 19% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $183,371 and 21, calls, for a total amount of $1,184,260.
<h3>Projected Price Targets</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $290.0 to $550.0 for Spotify Technology over the last 3 months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Spotify Technology's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Spotify Technology's substantial trades, within a strike price spectrum from $290.0 to $550.0 over the preceding 30 days.
<h3>Spotify Technology Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727727339_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>SPOT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$11.2</td>
<td>$10.1</td>
<td>$10.92</td>
<td>$410.00</td>
<td>$428.5K</td>
<td>1.6K</td>
<td style="text-align: right;">397</td>
</tr>
<tr>
<td>SPOT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$33.75</td>
<td>$27.9</td>
<td>$30.55</td>
<td>$300.00</td>
<td>$60.9K</td>
<td>94</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>SPOT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$6.4</td>
<td>$6.0</td>
<td>$6.4</td>
<td>$430.00</td>
<td>$51.2K</td>
<td>95</td>
<td style="text-align: right;">161</td>
</tr>
<tr>
<td>SPOT</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>12/20/24</td>
<td>$21.9</td>
<td>$21.3</td>
<td>$21.55</td>
<td>$390.00</td>
<td>$47.4K</td>
<td>3.6K</td>
<td style="text-align: right;">390</td>
</tr>
<tr>
<td>SPOT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$21.5</td>
<td>$20.7</td>
<td>$21.25</td>
<td>$390.00</td>
<td>$46.7K</td>
<td>3.6K</td>
<td style="text-align: right;">224</td>
</tr>
</tbody>
</table>

<h3>About Spotify Technology</h3>
Spotify, headquartered in Stockholm, Sweden, is one of the world's largest music streaming service providers, with 602 million monthly active users at the end of 2023. The firm monetizes its users through a paid subscription model, referred to as its premium service, and an ad-based model, referred to as its ad-supported service. Revenue from premium and ad-supported services represented 86% and 14% of Spotify's 2023 total revenue, respectively.
Having examined the options trading patterns of Spotify Technology, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Spotify Technology's Current Market Status</h3>
<ul>
<li>Currently trading with a volume of 1,399,235, the SPOT's price is down by -0.18%, now at $368.53. </li>
<li>RSI readings suggest the stock is currently may be overbought.</li>
<li>Anticipated earnings release is in 43 days.</li>
</ul>
<h3>What Analysts Are Saying About Spotify Technology</h3>
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $394.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Neutral, setting a price target of $340. 
&#x2A; An analyst from Cantor Fitzgerald has revised its rating downward to Neutral, adjusting the price target to $340. 
&#x2A; Maintaining their stance, an analyst from Keybanc continues to hold a Overweight rating for Spotify Technology, targeting a price of $440. 
&#x2A; Consistent in their evaluation, an analyst from Pivotal Research keeps a Buy rating on Spotify Technology with a target price of $510. 
&#x2A; An analyst from Cantor Fitzgerald downgraded its action to Neutral with a price target of $340. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Spotify Technology with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

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Subscription-based entertainment sources are gaining prominence with time as they offer ease, convenience, and diversity in content to consumers. Against this backdrop, quality subscription-based stocks Netflix (NFLX), Adobe (ADBE), and Spotify Technology (SPOT) could be ideal buys for now for recurring revenue growth. Continue reading... Consumer preferences have swiftly evolved in the recent past, shifting to online streaming services and subscription-based entertainment sources. Easier access to the internet has further encouraged the developments in the video and music streaming market.
Given this backdrop, it could be wise to invest in fundamentally strong subscription-based stocks Netflix, Inc. (<a href="https://stocknews.com/stock/NFLX/">NFLX</a>), Adobe Inc. (<a href="https://stocknews.com/stock/ADBE/">ADBE</a>), and Spotify Technology S.A. (<a href="https://stocknews.com/stock/SPOT/">SPOT</a>) for recurring revenue growth in the long run.
The Internet has become an integral part of the modern information society and is reaching every nook of the globe. As per Statista, there were over <a href="https://www.statista.com/statistics/617136/digital-population-worldwide/">5.45 billion internet users worldwide</a>, amounting to 67.1% of the global population as of July 2024. Statistics for social media users also came at a similar level, with 5.17 billion, or 63.7% percent of the world's population contributing.
The increasing internet penetration has also resulted in a transformation in the entertainment industry. Consumers are <a href="https://store.mintel.com/us/report/future-of-entertainment-us-2024/">increasingly leaning towards streaming videos</a>, music, and social media. Also, notably, COVID-19 has significantly contributed to this shift towards subscription-based entertainment sources. The entertainment market is expected to value over $1.23 trillion by 2028.
The video streaming industry is flourishing due to the surging digital media consumption, on-demand streaming options, and the convenience and diversity offered by streaming services. The global video streaming market is expected to grow at a <a href="https://www.grandviewresearch.com/industry-analysis/video-streaming-market">CAGR of 21.5%</a> from 2024 to 2030, reaching $416.84 billion by 2030, driven by blockchain technology and Artificial Intelligence (AI).
Further, a study by Forbes revealed that Americans dedicate a substantial three hours and nine minutes each day to <a href="https://www.forbes.com/home-improvement/internet/streaming-stats/#:~:text=Video%20streaming%20revenue%20is%20expected,reach%20a%20staggering%20%2443.97%20billion.">streaming digital media</a>, and 99% of all U.S. households subscribe and pay for a minimum of one of the streaming services. It was mentioned that households pay an average of $46 monthly for streaming services, reflecting the growing demand.
Given these factors, let's delve deeper into the fundamentals of top subscription-based stocks: NFLX, SPOT, and ADBE.
Netflix, Inc. (<a href="https://stocknews.com/stock/NFLX/">NFLX</a>)
NFLX provides entertainment services. The company offers TV series, documentaries, feature films, and games across various genres and languages. It also allows members to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.
NFLX's trailing-12-month EBIT margin and net income margin of 23.82% and 19.54% are 160 % and 570.9% higher than the respective industry averages of 9.16% and 2.91%. Similarly, the stock's trailing-12-month <a href="https://www.investopedia.com/terms/r/roce.asp">ROCE</a> of 31.57% is significantly higher than the industry average of 3.04%.
For the second quarter ended June 30, 2024, NFLX's revenues increased 16.7% year-over-year to $9.56 billion. Its operating income rose 42.5% from the previous year's period to $2.60 billion. Also, the company's net income and EPS stood at $2.15 billion and $4.88, up 44.3% and 48.3% from the prior year's quarter, respectively.
In addition, the company's total assets came in at $49.10 billion as of June 30, 2024, compared to $48.73 billion as of December 31, 2023.
Street expects NFLX's revenue and EPS for the third quarter (ended September 2024) to increase 14.3% and 37.5% year-over-year to $9.76 billion and $5.13, respectively. Furthermore, the company surpassed the consensus revenue estimates in the trailing four quarters.
Shares of NFLX have surged 16.3% over the past six months and 95.7% over the past year to close the last trading session at $705.98.
NFLX's robust growth prospects are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, translating to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
The stock has an A grade for Quality and a B for Sentiment. NFLX is ranked #17 out of 53 stocks within the B-rated <a href="https://stocknews.com/category/internet/">Internet</a> industry.
<a href="https://stocknews.com/stock/NFLX/">Click here</a> to access additional ratings of NFLX for Growth, Stability, Value, and Momentum.
Adobe Inc. (<a href="https://stocknews.com/stock/ADBE/">ADBE</a>)
ADBE operates as a diversified software company internationally. It operates in three segments: Digital Media; Digital Experience; and Publishing and Advertising. The company offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content, and Document Cloud.
On October 14, ADBE expanded its Firefly family of creative, generative AI models to video, with new breakthroughs in its Image, Vector, and Design models and significant momentum in Firefly's adoption by leading brands and enterprises. Enhancements include 4x faster image generation and new capabilities integrated into Photoshop, Illustrator, Adobe Express, and now Premiere Pro.
The Adobe Firefly Video Model expanded ADBE's family of creative, generative AI models and is the first publicly available video model designed to be safe for commercial use.
On the same day, ADBE announced the general availability of the next generation of Frame.io, extending its industry-leading video post-production capabilities to deliver powerful metadata and asset workflows and expanding support to include photos, design, and more.
For the third quarter that ended August 30, 2024, ADBE's total revenue increased 10.6% year-over-year to $5.41 billion. Its non-GAAP operating income grew 11.1% from the year-ago value to $2.51 billion. In addition, the company's non-GAAP net income came in at $2.08 billion and $4.65 per share, reflecting growth of 10.8% and 13.7% from the prior year's quarter, respectively.
For the fourth quarter of fiscal year 2024, ADBE's total revenue target is between $5.50 billion and $5.55 billion, and its Digital Media segment revenue target is $4.09 billion to $4.12 billion. The company's non-GAAP EPS is targeted at $4.63 - $4.68.
Analysts expect ADBE's revenue and EPS for the fourth quarter (ending November 2024) to increase 9.8% and 9.4% year-over-year to $5.54 billion and $4.67, respectively. Further, the company has topped the consensus EPS and revenue estimates in all four trailing quarters, which is impressive.
ADBE's stock has soared 8.1% over the past six months to close the last trading session at $508.03.
ADBE's sound fundamentals are reflected in its POWR Ratings. The stock has an overall rating of B, which equates to a Buy in our proprietary rating system.
The stock has an A grade for Quality and a B for Sentiment and Stability. Within the <a href="https://stocknews.com/category/software-application/">Software - Application</a> industry, ADBE is ranked #23 among 131 stocks.
In addition to the POWR Ratings we've stated above, we also have ADBE ratings for Momentum, Growth, and Value. Get all ADBE ratings <a href="https://stocknews.com/stock/ADBE/">here</a>.
Spotify Technology S.A. (<a href="https://stocknews.com/stock/SPOT/">SPOT</a>)
Headquartered in Luxembourg, SPOT provides audio streaming subscription services worldwide. The company operates in Premium and Ad-Supported segments. Its Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.
The trailing-12-month net income margin of SPOT is 3.22%, 10.6% higher than the industry average of 2.91%. Further, the stock's trailing-12-month ROCE and ROTC of 14.76% and 8.93% are favorable, compared to the industry averages of 3.04% and 3.68%, respectively.
For the second quarter that ended June 30, 2024, SPOT's revenue increased 9.5% year-over-year to €3.81 billion ($4.15 billion). The company's gross profit grew 9.4% from the year-ago value to €1.11 billion ($1.21 billion). Its net income and EPS came in at €274 million ($298.59 million) and €1.33 for the quarter, respectively.
Analysts expect SPOT's EPS for the third quarter (ended September 2024) to increase 385.3% year-over-year to $1.70, and its revenue is estimated to increase 11.5% year-over-year to $3.96 billion for the same quarter. Moreover, the company surpassed the consensus EPS estimates in three of the trailing four quarters.
SPOT's shares have gained 28.3% over the past six months and 135.6% over the past year to close the last trading session at $372.60.
SPOT's POWR Ratings reflect its robust outlook. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
SPOT has an A grade for Growth. It also has a B grade for Quality. It has topped among the 3 stocks in the B-rated <a href="https://stocknews.com/category/entertainment-radio/">Entertainment - Radio</a> industry.
<a href="https://stocknews.com/stock/SPOT/">Click here</a> to access additional SPOT ratings for Sentiment, Momentum, Value, and Stability.Top of Form
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<hr />
NFLX shares were trading at $701.70 per share on Wednesday afternoon, down $4.28 (-0.61%). Year-to-date, NFLX has gained 44.12%, versus a 23.67% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/nflx-adbe-spot-3-subscription-based-stocks-to-buy-for-recurring-revenue-growth/>3 Subscription-Based Stocks to Buy for Recurring Revenue Growth</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Subscription-Based Stocks to Buy for Recurring Revenue Growth

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