8 Best European Stocks To Buy According to Hedge Funds

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

Number of Hedge Fund Investors: 88  

Spotify Technology S.A. (NYSE:SPOT) is a Swedish audio streaming and media services provider, known for its music streaming platform that offers millions of songs and podcasts. The company has revolutionized the music industry with its subscription-based model and personalized playlists.

Spotify Technology S.A.’s (NYSE:SPOT) growth is driven by increased subscriber revenue and AI integration, enhancing user engagement and content discovery. The company’s AI models are expanding their reach and providing users with more content selection, which is expected to accelerate growth. Spotify Technology S.A.’s (NYSE:SPOT) new feature, AI Playlist, allows Spotify Premium users to prompt a chatbot to search by feelings and types of music or life events that they want their music to represent.

Spotify Technology S.A.’s (NYSE:SPOT) AI integration is supporting the company in several ways. Firstly, it is increasing user engagement and time on the platform, which is directly correlated with a consumer’s propensity to spend more on a subscription. Secondly, AI is helping the company to better understand each consumer’s taste in music, and cater to their preferences which is leading to more happy customers, more ads, and more subscriptions. Spotify Technology S.A.’s (NYSE:SPOT) ability to cater to each individual’s song interests, and provide users with more content selection, is expected to accelerate growth and drive revenue.