Spotify Unveils New Basic Plan After Recent Premium Price Hike
Portfolio Pulse from Anusuya Lahiri
Spotify Technology SA (NYSE:SPOT) has introduced a new 'Basic' streaming plan in the U.S. priced at $10.99 per month, following a recent increase in the Premium plan price. The new plan excludes monthly audiobook listening time. Analysts predict accelerated revenue growth in 2024 due to effective pricing strategies. SPOT shares have gained over 100% in the last 12 months.
June 21, 2024 | 5:18 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Investors can gain exposure to Spotify through the iShares Russell 1000 ETF (IWB). The ETF may benefit from Spotify's new pricing strategies and anticipated revenue growth.
IWB holds Spotify shares, and the positive developments in Spotify's pricing strategies and revenue growth outlook could benefit the ETF's performance.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Investors can gain exposure to Spotify through the SPDR Portfolio Developed World Ex-US ETF (SPDW). The ETF may benefit from Spotify's new pricing strategies and anticipated revenue growth.
SPDW holds Spotify shares, and the positive developments in Spotify's pricing strategies and revenue growth outlook could benefit the ETF's performance.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Spotify has introduced a new 'Basic' plan at $10.99/month, excluding audiobooks, following a Premium price hike. Analysts predict revenue growth in 2024 due to effective pricing strategies. SPOT shares have gained over 100% in the last 12 months.
The introduction of a new 'Basic' plan and the recent price hike for the Premium plan are likely to drive revenue growth. Analysts' positive outlook and the stock's significant gain over the past year suggest a favorable short-term impact on SPOT's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100