Spotify Is Dominating Music and Now Has a $2 Billion Win Over Apple

By Travis Hoium – Mar 7, 2024 at 7:00AM

NYSE: SPOT

Spotify Technology

Market Cap

$56B

Today's Change

(0.20%) $0.57

Current Price

$289.59

Price as of April 26, 2024, 4:00 p.m. ET

An E.U. fine against Apple is further evidence Spotify has won despite having a losing hand.

Spotify (SPOT 0.20%) has had an uphill battle against Apple (AAPL -0.35%) from the start, fighting against an integrated music service that had an inherent cost advantage. Yet, Spotify has more market share in music than Apple and now Europe is imposing a $2 billion fine against the tech giant for unfair business practices.

In this video, Travis Hoium shows why Apple was fined and how this is another tailwind for Spotify.

*Stock prices used were end-of-day prices of March 5, 2024. The video was published on March 5, 2024.

Travis Hoium has positions in Apple and Spotify Technology. The Motley Fool has positions in and recommends Apple and Spotify Technology. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.