Spotify shares rise on Universal Music AI deal and targets
Spotify shares rose 13 percent on a new Universal Music AI deal. The firm set 2030 growth targets and launched tools for custom podcasts and ticket access.
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Spotify Technology SA shares rose 13% after the company projected mid-teens revenue growth through 2030 and announced an AI partnership with Universal Music Group NV. The Sweden-based platform targets gross margins between 35% and 40%, up from 32% last year. New AI tools for remixes and podcasts aim to boost engagement and defend market share against emerging tech startups.
