#6 - Spotify (NYSE:SPOT)
Next up is Spotify Technology S.A. (NYSE: SPOT). The company has been using AI as far back as 2013. However, in 2023, it took things to a different level with the launch of AI DJ. Spotify is already a favorite of consumers due to the personalization it provides. The AI DJ creates hyper-personalization by combining human editorial expertise with generative AI.
That's far from the only AI application. Spotify also uses generative AI in features such as Discover Weekly, Spotify Wrapped, Podcast Voice Translations, Natural Voice Search, and AI-powered Daylists.
Since launching AI DJ, revenue is up year-over-year, but consistent profitability remains elusive. That's expected to change in 2024 and is a key reason SPOT stock is up 99% in the last 12 months.
About Spotify Technology
Spotify Technology SA, together with its subsidiaries, provides audio streaming subscription services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.
Read More - Current Price
- $473.36
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 23 Buy Ratings, 5 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $421.69 (10.9% Downside)
