GoKawiilSpotify shares jumped 6% after the music streaming platform laid out guidance for 2030 at its first investor day since 2022.
The company forecasted revenue at a compounded annual growth rate in the mid-teens and gross margins between 35% and 40%. Spotify referred to plans to reach 1 billion subscribers and $100 billion in revenues as its "north star."
Spotify is in the middle of a reshuffle, and the stakes are high.
Shares have lost a quarter of their value since the start of 2026. This is the first investor day for the company in four years and under the direction of its new co-CEOs, Gustav Söderström and Alex Norström. Founder and former CEO Daniel Ek stepped down at the start of this year after about two decades at the helm.
Spotify is grappling with massive changes in the music industry, fueled by the onslaught of AI. The company is also trying to prove it can be more than a music streaming platform as it bets on verticals like audiobooks and podcasts.
Since 2022, Spotify said it's added more than 340 million new users to the platform and has grown its subscriber base by more than 110 million.