2026 : (Investor Day) , , . 20 .
CEO (Alex Norstr m) (Gustav S derstr m) Investor Day , .
4 (Spotify Machine)' , . , .
(Large Taste Model, LTM)' 3 4 (Taste Signals) , . , , .
Investor Day .
& CEO: Alex Norstro m and Gustav So derstro m
(Alex Norstr m) (Gustav S derstr m) CEO 20 .
184 7 6,100 (MAU) , 3 . .
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CEO 2022 . (FXN) (CAGR) 18%, 32%, 18%p , 2025 30 (FCF) .
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(Power Law) . . ' . ARPU( ) , . Audiobooks+ (LTV) Premium-only .
, . . . . 5 Jam' , 5 (Collaborative Playlist) , .
AI . , . , , . Prompted Playlists' Taste Profile' , .
(Time Well Spent) . . , . , . Time Well Spent' .
: 10 Gustav Gyllenhammar
(Gustav Gyllenhammar) SVP , 10 . (Free)' . Free , , (Premium)' . , , ARPU . , .
AI . AI , Premium , .
. 50% , 10 . Midia 6 Spotify Premium 8 10%p . 2016 14 Premium 44% . MAU 7 .
, : Time Well Spent (Nicole Burrow) VP (Natasa Soltic) VP .
. (Wrapped)' . Wrapped 2025 6 2 , . (no regrets)' . 20 6 1 , .
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, . SongDNA' About the Song' . , .
SongDNA 3 2 6,500 . AI , , .
, , : Charlie Hellman
(Charlie Hellman) SVP, (Joe Hadley) , (Rene Volker) .
. 2025 110 , 10% . . 700 .
Universal Music Group(UMG) Universal Music Publishing Group(UMPG) . . , , , (add-on) . .
AI , . ,
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ALEX
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GUSTAV
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