Christoffer has written about Spotify’s Investor Day. 
Spotify hosted its third Investor Day yesterday. In our view, the most important announcements were the introduction of an official 2030 financial framework, a significant generative AI licensing agreement with Universal Music Group (UMG), and a ticketing partnership with Live Nation. Furthermore, instead of a single “super-premium” tier, the company introduced a sophisticated monetization strategy based on niche add-ons. The market received the updates positively, and the shares rose 13% yesterday. We believe the day succeeded well in resolving several strategic disputes that have weighed on the stock in 2025 and 2026, while reinforcing our long-term investment thesis.