SPOT - Morgan Stanley Says Spotify's Foray Into Audiobooks Could Lower Churn And Increase Pricing Power | Benzinga
Morgan Stanley analyst Benjamin Swinburne maintained an Overweight rating on the shares of Spotify Technology SA (NYSE: SPOT) with a price target of $185.
Spotify announced that it is more formally entering the audiobooks market, starting with the U.K. and Australia, with other parts of the world following soon.
Today, the offer will include 15 hours of free listening for Premium subscribers with participation from all major book publishers and independents.
Related: Spotify Takes On Amazon's Audible, To Let Premium Users Listen To 15 Hours Of Audio Books
Spotify's ability to not only ...