NEW YORK, Feb 5, 2026, 14:11 EST — Regular session.
- Spotify shares dropped roughly 6% in afternoon trading in New York, following a wider selloff in tech stocks.
- The company announced users can now purchase physical books in-app through Bookshop.org and introduced new audiobook features.
- Investors are eyeing Spotify’s upcoming earnings report and the broader launch of its “Page Match” tool set for later this month.
Shares of Spotify Technology S.A. dropped 6.4% to $412.42 in afternoon trading Thursday, extending the tech selloff. The stock had closed at $440.53 on Wednesday.
The decline is significant as Spotify pushes to diversify revenue beyond music and podcasts, even as investors grow cautious about expensive growth stocks. With earnings just around the corner, traders are focused on whether new products and pricing changes can boost revenue without driving users away.
Spotify announced plans to start selling physical books on its streaming app, teaming up with online retailer Bookshop.org. This move extends beyond its existing audiobooks offering. The new feature is set to launch later this spring for users in the U.S. and U.K. Bookshop.org will take care of pricing, inventory, and fulfillment, with Spotify earning an affiliate fee from the sales, the company said. 1
Spotify announced it will introduce “Page Match,” a feature enabling users to scan a page from a physical book or e-book and jump directly to the corresponding spot in the audiobook. The tool will launch with most English-language titles and is expected to be fully available by Feb. 23, the company said. 1
The company reported that Audiobooks in Premium now covers 22 global markets, up from its launch two years ago. Its English-language catalog has surpassed 500,000 titles. New listeners jumped 36% year-over-year, while listening hours climbed 37%, it said. 1
Spotify’s shares fell alongside a drop in the Nasdaq, while the S&P 500 slipped to its lowest level in over two weeks. Investors reacted nervously to Alphabet’s aggressive AI spending plans and Qualcomm’s weak outlook. “The AI trade which was the accelerant last year is perhaps the extinguisher this year,” said Melissa Brown, managing director of investment decision research at SimCorp. 2
Spotify is stepping up its game against streaming rivals backed by tech behemoths like Apple and Amazon, aiming to boost revenue per user. The company has been hiking prices in certain markets, raising its U.S. premium subscription fee by $1 to $12.99 a month, it confirmed. 1
But shifting to physical books arrives amid sluggish print sales, and affiliate fees barely match up to subscription revenue. Execution risk looms too: if price hikes trigger churn — with users dropping subscriptions — the company might have to revert to promotions that squeeze margins.
Spotify’s Q4 earnings call, set for Feb. 10 before markets open, will be the next major event for investors. Management is expected to field questions once the results are out. 3
