3 Reasons You're Not Too Late to Buy Spotify Stock
If you have been watching Spotify (NYSE: SPOT) shares double over the last four months and have been kicking yourself for having "missed" buying it, there's good news for you: You haven't missed it. In fact, the stock's long multi-decade run is just getting started. Here's why.
Spotify has exploded over the last several years into the largest subscription audio streaming business in the world with over 130 million Premium subscribers. Total monthly active users ("MAUs"), which includes those on the company's free ad-supported service, reached 299 million as of the end of June. Both metrics have showed no signs of slowing down -- and grew 27% and 29%, respectively, year-over-year last quarter -- despite the global COVID-19 pandemic.
That is huge-scale already, and reveals a product that is distancing itself from its competitors. And the company has a huge amount of room to run ahead of it in the coming years and decades. There are over three billion payment-enabled smartphones in markets Spotify operates in or plans to. That addressable market is 10 times Spotify's current number of MAUs, and more than 23 times its number of Premium subscribers, indicating plenty of opportunity ahead.
Source Fool.com
