New York, Feb 6, 2026, 19:08 EST — After-hours
Spotify Technology S.A. climbed 2.4% in late after-hours trading Friday, changing hands most recently at $422.61. The shares moved between $408.42 and $426.30 over the session, market data showed.
Spotify shares head into the weekend with investors still circling the same debate: can the company keep pushing revenue per user higher without sparking churn, all while pouring money into new formats.
The debate is getting real as Spotify keeps layering fresh features onto its main music app, just ahead of its next quarterly numbers. Some traders are reading the steady rollout as evidence the company’s still chasing marginal gains. Others? They’re holding out for hard proof that any of it actually boosts profit.
Spotify on Thursday announced it’s teaming up with Bookshop.org to let users in the U.S. and U.K. buy physical books straight from the app. Spotify picks up a small affiliate fee from each purchase, while Bookshop takes care of fulfillment. There’s more: “Page Match” is on the way — the feature, flagged by Reuters, lets listeners scan a print or e-book page to sync instantly with the same spot in an audiobook, a move that pushes Spotify deeper into territory staked out by Apple and Amazon. The English-language audiobook catalog now tops 500,000 titles spanning 22 markets, according to Spotify. The company also bumped the monthly Premium price by $1 to $12.99 in some regions. Shares slid 4.5% Thursday. 1
Spotify’s global head of audiobooks, Owen Smith, says the company wants to help people weave reading and listening more easily into daily routines. Bookshop.org founder and CEO Andy Hunter called Spotify’s reach a potential boost for indie bookstores, saying he’s “excited to see the impact Spotify’s scale will have for local bookstores.” 2
Spotify rolled out “About the Song” on Friday, a beta that drops swipeable story cards onto the Now Playing screen—feeding context from outside sources. For now, it’s available in English and only for Premium users in the U.S., U.K., Canada, Ireland, New Zealand and Australia, according to Spotify. 3
For investors, the immediate takeaway isn’t about what’s new. It’s about leverage. High engagement? That’s what Spotify needs. Broadening in-app activity lets the company push through price increases and bolt-on businesses with less pushback.
Still, there’s a risk here. Physical-book sales might end up so minimal they barely move the needle, and piling on new features could just create clutter—especially if they fail to boost subscriber numbers or stabilize ad demand. Raising prices? That could easily push customers to drop non-essential subscriptions.
Spotify has its Q4’25 earnings call lined up for Tuesday, Feb. 10, 8:00 a.m. Eastern, as per the company’s event listing. Wall Street’s looking for anything hinting at a shift in outlook—plus specifics on whether audiobooks and those newer commerce offerings are starting to make a mark in the numbers. 4
