Spotify

New York Stock Exchange-listed Sweden-founded music and podcast streaming service with over 500 million users worldwide.

"Spotify (down 16% YTD in USD) declined [in Q2-26] as the market questioned the value of human-generated music and audio content amid the emergence of new AI-driven music creation tools. We believe the appetite for human-generated content will endure, and that a minority shift towards AI-generated music will ultimately benefit Spotify as the world's largest audio distribution platform."