It's worth noting that, in this roundup, I've purposefully left out services that can only play music in a radio format (such as basic Pandora and UnRadio) and which don't allow you to select your own songs. I've checked out the biggest names, including Spotify, Apple Music, Amazon MusicĪnd YouTube Music, as well as smaller contenders such as Tidal, Qobuz, Deezer and Pandora Premium, to see how each platform stacks up for your subscription buck.
While prices have been stable at around $10 a month (which is not something I can say about live TV streaming) there have been other big changes recently, including the addition of hi-res music. Most of the services have music catalogs of over 60 million songs, so that's not really an issue, plus they enable you to stream from multiple devices. If you're shopping around for a new music provider the two things you need to consider most are monthly cost and compatibility. Yet, with so many music services on offer, how are you supposed to choose? Though some audiophiles may pooh-pooh the quality of streamed music, a growing number of providers include lossless and spatial Dolby Atmos audio at no extra charge. Out of the gate this morning, SPOT stock is up 3.3% to trade at $150.63.Music streaming services offer users a world of convenience and discovery, allowing people to listen to hundreds of thousands of artists easily and quickly. Yesterday, the shares fell as low as $135.51, before closing the session down 2.7% at $145.87. While the NYSE set a reference price of $132 per share on Monday, Spotify opened Tuesday's trading at $166.47 - rising as high as $169 on its first day, before closing at $149.94.
The shares first began trading on the New York Stock Exchange (NYSE) on Tuesday, though the company chose to go with a rare direct listing, versus pricing an initial public offering (IPO). The brokerage said it thinks the company can reach profitability, and that, "Similar to Netflix when the company was early on in its transition from DVDs to streaming video, Spotify's margin structure appears far from optimized today." Stifel also started SPOT stock with a "buy" rating, and set its price target at $180. What's more, the brokerage firm said SPOT stock deserves "premium valuation" and set a $200 price target - a nearly 39% premium to last night's close - while signaling expectations for global subscribers to grow to around 55% by 2025 versus the current 40%-45%. Canaccord Genuity initiated coverage on the Wall Street newcomer with a "buy" rating. Shares of Spotify Technology (NYSE:SPOT) are trading higher this morning, after the streaming music service received a pair of bullish brokerage notes.
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