Loop Capital has adjusted its price target for Spotify Technology S.A. (NYSE: SPOT) to $250 from $165, citing its successful price hikes and audiobook venture. Despite the upgrade, the firm maintains a Hold rating, recommending investors hold their positions. Spotify’s recent strategic adjustments aim to enhance revenue streams, supported by its strong financial health, increasing revenue, and improving gross profit margin.
Taylor Swift’s latest album, ‘The Tortured Poets Department,’ has made history as the first album to surpass 300 million streams in a single day on Spotify. The 31-track double album features the hit single ‘Fortnight’ with Post Malone, which also set a record as Spotify’s most-streamed song in a day. Santa Clara, California, has been dubbed the ‘Swifty Capital’ of the United States due to its high concentration of Taylor Swift fans.
Taylor Swift’s new album, ‘The Tortured Poets Department,’ has shattered Spotify records with over 300 million streams on its release day. Swift also became the most-streamed artist and has the most-streamed song (‘Fortnight’) within a single day on Spotify. The double album was released as 16 songs initially, with 15 additional tracks added as ‘The Anthology.’ Swift has now held the top three spots for single-day album streaming records on Spotify with ‘Tortured Poets,’ ‘Midnights,’ and ‘1989 (Taylor’s Version).
Despite its impressive sound quality, Tidal’s user experience issues, including confusing album presentation and lack of intuitive navigation, make it difficult to fully enjoy Taylor Swift’s ‘Midnights’ album. The author highlights the need for a streamlined approach to album versions and a toggle for sound quality options. While Tidal’s enhanced audio enhances the listening experience, Spotify remains the preferred choice due to its superior user interface and social features.
