So far this quarter, Spotify has experienced increases in the number of countries where its app ranks at the No. Rankings for Spotify’s app appear favorable. Patterson estimates that Spotify will have about 22 million net subscriber additions over the same time that YouTube had 15 million net sub adds.
Spotify appears to be growing faster than YouTube Premium. Since then, however, industry dynamics appear favorable for several reasons:
Patterson said he didn’t recommend buying Spotify’s stock over the past year because of concerns over consumer price elasticity, competition and expectations around podcast returns.
Since closing at a 14-month low of $205.08 on Aug. Climbed 2.3% to close at a two-month high of $254.72.
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