Spotify (SPOT): Long-Term Opportunity With Audiobooks Addition?

Spotify (SPOT) stock price is down over 60% year-to-date. “The SPOT stock got ahead of itself, but Spotify as a company is well positioned. The addition of podcasts to their platform increased current user happiness and new user growth. Now with the addition of audiobooks to Spotify, there are new opportunities. There was a massive consumer reaction for the Spotify audiobook demand mentions. Users will be able to purchase audiobooks and Spotify will make 40% of that,” says LikeFolio’s Andy Swan. Tom White and Kevin Hincks weigh in on the Spotify user friendly platform.