Spotify Stock Has Collapsed 40%—What's Going On?

It's even worse at Netflix. Have streaming platforms peaked?

Here’s the share price of Spotify during the last 12 months—it’s a debacle.

Source: Macrotrends

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Spotify insiders probably saw this coming. In the months leading up to the all-time high, they sold a massive number of shares. CEO Daniel Ek (now Executive Chairman of the company) sold relentlessly—to a degree I’ve never seen before from a corporate leader.

Here’s a summary via Music Business Worldwide.

Source: Music Business Worldwide

I note that Spotify hit its all-time high on June 26, 2025. It’s down a staggering 40% since that time. So Ek looks very smart indeed.