Aidan McKenna ’25 pitched Spotify Technology S.A. (NYSE: SPOT) on November 11, 2024. Spotify is the world’s largest music streaming service with over 626 million monthly active users and 246 million paying subscribers across 184 countries. The company offers free users and subscribers access to its catalog of music, podcasts, and now audiobooks.
Aidan’s investment thesis highlighted Spotify’s position as an industry leader, accounting for approximately one third of all music streaming subscriptions globally, their new era of profitability driven by increased ad revenue and improved margins, and strong conviction in the Communication Services sector. He placed an emphasis on Spotify’s recent financial performance in 2024 as it is expected to be their first full year of profitability. SMIF voted to purchase about $30,000 worth of SPOT.