Spotify Stock: Better Business, But Too Expensive?
Spotify just proved it is becoming a much stronger business — but the stock may already be pricing in a lot of that improvement.
In this video, I break down Spotify’s Q1 2026 earnings, including its 761 million monthly active users, 293 million Premium subscribers, improving gross margins, strong free cash flow, and the market’s reaction to guidance. I also walk through the bull case, base case, and bear case for SPOT stock over the next five years, and explain why the company looks higher quality than before — but not obviously cheap at today’s valuation.
We’ll cover Spotify’s Premium growth, ad-supported weakness, margin expansion, AI personalization strategy, Investor Day targets, valuation, and what investors should watch next.
Music from: / @withmusic7-x8r
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