Spotify’s ‘North Star’ Outlook Was Music to Investors Ears

Spotify held its first Investor Day in four years, unveiling ambitious 'North Star' goals including 1 billion subscribers, $100 billion in annual revenue, and over 40% gross margin by 2030. The company guided for mid-teens currency-neutral annual growth through 2030 and significant margin expansion, causing shares to spike 20% following the announcement. Despite recent growth deceleration and a 30% decline from 2025 highs, analysts responded positively with the consensus price target implying 35% upside.