10 Best Entertainment Stocks to Buy According to Billionaires

4. Spotify Technology S.A. (NYSE:SPOT)

Number of Billionaire Investors: 17

Number of Hedge Fund Holders: 101

Spotify Technology S.A. (NYSE:SPOT) is a leading provider of music and audio streaming subscription services. It allows users to listen to tracks, podcast titles, and audiobooks. The company has more than 675 million users, including over 250 million subscribers, in more than 180 markets around the world. Spotify Technology S.A. (NYSE:SPOT) ranks among the best entertainment stocks to invest in.

The company is strategically focused on expanding its user base and also improving monetization and profitability. Spotify Technology S.A. (NYSE:SPOT) is actively launching new features for creators and consumers. In Q4 2024, the company introduced Custom playlist covers in Beta to allow users to create their own cover art for the over 8 billion user-generated playlists on Spotify. Spotify Technology S.A. (NYSE:SPOT) also introduced a new video podcast offering for Premium Subscribers in the US, United Kingdom, Australia, and Canada. For creators, Spotify Technology S.A. (NYSE:SPOT) launched the Spotify Partner Program, a new monetization program that allows creators to earn more from their audio and video content.

The company’s strategic focus seems to be paying off as it closed 2024 with a record-breaking Q4 performance. Spotify Technology S.A. (NYSE:SPOT) reported that Monthly Active Users (MAUs) grew 12% year-over-year to reach 675 million, with net additions of 35 million, the largest Q4 in the company’s history. Premium subscribers also increased 11% year-over-year. Notably, Spotify Technology S.A. (NYSE:SPOT) reported that ad-supported revenue increased by 7%, driven by growth in impressions sold.