Stocks Analysis by MarketBeat.com (Jea Yu) covering: Alphabet Inc Class A, Apple Inc, Sirius XM Holding Inc, Amazon.com Inc. Read MarketBeat.com (Jea Yu)'s latest article on Investing.com
Spotify is the world's leading streaming music service, garnering an estimated 30.5% market share, followed by Apple Music and Amazon Music with a 13% market share.
Artificial intelligence is helping personalize the user experience and advertising experience with targeted ads and lower costs.) had an impressive third quarter of 2023. Its metrics have improved, and the integration of artificial intelligence into itsis making noticeable improvements in its business. Spotify has used personalization as a key growth driver, and AI is a large part of that.The company also raised its MAU estimates by over 3 million users above analyst estimates for Q4 2023.
Monthly active users rose 26% to 574 million, beating analyst estimates of 572 million. Premium subscribers rose 16% YoY to 226 million users. The company announced the launch of its groundbreaking audiobooks for premium subscribers. Spotify's Q4 2023 estimates exceed the bank's targets of EUR3.7 billion in revenues, 586 million users, and 233 million premium subscribers. It also expects to witness the full impact of Spotify's price increases in the fourth quarter.The daily candlestick chart on SPOT illustrates a symmetrical triangle pattern. This pattern comprises a descending upper trendline and an ascending lower trendline at the apex point.
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