Spotify is the leading global music streaming service, with over 750 million monthly active users and nearly 300 million paying subscribers, with the latter constituting the firm’s premium segment. Most of the firm’s revenue and nearly all its gross profit come from subscribers, who pay a monthly fee to access a music library that includes most of the most popular songs ever recorded, including all from the major record labels. The firm also offers access to audiobooks and integrates podcasts within its standard music app. Podcast content is not exclusive and is typically free to access on other platforms. Ad-supported users can access a similar music catalog, but cannot customize a similar on-demand experience.

Spotify is the largest global music streaming subscription service, with content from across music genres, podcasts, and audiobooks, reaching over 180 countries and territories, though it is barred from China. The company went public through a direct listing on April 3, 2018, at $165.90 per share. Spotify has a dual-class share structure, enabling Cofounders Daniel Ek and Martin Lorentzon to control Spotify with 71% of the voting power, though their economic interests are only 14% and 10%, respectively. Spotify derives 61% of its revenue outside the U.S. Spotify trades on the NYSE under the ticker SPOT and is a component of the Russell 1000 Index. Though based in Sweden, Spotify is incorporated under the laws of Luxembourg.

Stocks were volatile again last week, with ongoing concerns over sectors that might be negatively impacted by the rise of AI. This week, Wall Street will take in earnings from Walmart as well as more inflation data. Last week, the Dow Jones Industrial Average was down 1.2%, the S&P 500 shed 1.4%, and the Nasdaq lost 2.1%. Year to date, the Dow has gained 3%, while the S&P 500 is down 0.1%, and the Nasdaq is down 3%. On the earnings calendar, Medtronic and Palo Alto Networks report on Tuesday; Analog Devices, Booking Holdings, Carvana, DoorDash, and eBay on Wednesday; Walmart and Deere on Thursday; and Alibaba and Constellation Energy on Friday. Some 77% of S&P 500 companies have reported so far, and overall earnings are up 13.5% from last quarter. Information Technology, up 31%, and Industrials, up 16%, are leading the pack. At the bottom are Consumer Discretionary, down 0.1%, and Healthcare, up a mere 0.5%, according to LSEG I/B/E/S. On the economic calendar, the minutes from the last Fed meeting, Housing Starts, and Durable Goods Orders are due on Wednesday; the U.S. Trade Deficit arrives on Thursday; and GDP, the Personal Consumption Expenditures Index, Consumer Sentiment, and New Home Sales are expected on Friday. Turning to other data, the Atlanta Fed GDPNow forecast calls for 3.7% growth in the fourth quarter. The Cleveland Fed Inflation Nowcast forecasts a 2.4% rate for January and 2.4% for February as well, which compares to the December print of 2.7%. Mortgage rates ticked down two basis points last week, with the average 30-year fixed-rate mortgage now at 6.09%, according to FreddieMac. Gas prices went up three cents last week and are at an average of $2.90 per gallon for regular gas. The next Federal Open Market Committee meeting is on March 18, and odds are at 8% for a 25-basis-point cut at that meeting, according to the CME FedWatch rate tool. After that, meetings will be held on April 29 and June 17. Taking a deeper dive into performance so far in 2026, a leading industrialized global stock market index, the ETF EFA, is up 8% year to date, while the leading emerging market ETF (EEM) is up 11%. U.S. growth stocks are down 5% year to date looking at ETF IWF, while value stocks (IWD) are higher by 6%. In other asset classes for the year to date, AGG bonds are up 1%, gold is up 15%, crude oil is up 8%, and Bitcoin is down 21%. The U.S. dollar is down 1%, tracking DXY. The VIX Volatility Index settled on Friday at about 21, down from a high of 26 in late November but now above its historical average of 20. Turning to sector performance, the list from first to worst so far in 2026 is Energy (+19%), Consumer Staples (+14%), Materials (+13%), Industrials (+12%), Real Estate (+3%), Healthcare (+2%), Utilities (+1.5%), Communication Services (+1.1%). Financials (-1%), Consumer Discretionary (-3%), and Information Technology (-3%). By comparison, the S&P 500 is down 0.1% year to date.

Spotify is the leading global music streaming service provider, with over 750 million monthly active users and 290 million paying subscribers, with the latter constituting the firm’s premium segment. Most of the firm’s revenue and nearly all its gross profit come from the subscribers, who pay a monthly fee to access a music library that consists of most of the most popular songs ever recorded, including all from the major record labels. The firm also offers access to audiobooks and integrates podcasts within its standard music app. Podcast content is not exclusive and is typically free to access on other platforms. Ad-supported users can access a similar music catalog but cannot customize a similar on-demand experience.