Spotify Technology (NYSE:SPOT) shares are jumping on Thursday following upbeat commentary from Co-CEO Gustav Söderström at the company's investor day, alongside the announcement of a new licensing deal with Universal Music Group.

Investor Day Takeaways

Spotify said it has already captured roughly 20% of the U.S. audiobook market, signaling early traction in its push beyond music.

The company also highlighted sustained engagement growth, noting that global streaming hours per subscriber rose 10% between 2021 and 2025.

On the subscriber front, Spotify said more than 3% of the global population now pays for its service, with penetration in Sweden nearing 50%.

Executives added that over 500 million users have streamed a video podcast, up nearly 50% year over year, underscoring momentum in its video and podcasting push.

Looking ahead, management reaffirmed long-term targets of 35%–40% gross margins and more than 20% operating margins by 2030, alongside its goal of reaching 1 billion subscribers.