Spotify's stock price has plummeted 20% since the company announced that CEO Daniel Ek will step down and assume the role of executive chairman, with shares falling 8.2% to $583.62 in the week ended Friday (Nov. 21). The Swedish streaming giant's share price has dropped more than $200 below its all-time high of $785.00 set on June 27.
Investors seem to be losing faith in the post-Ek era, with Spotify shares falling 19.9% since the announcement. This decline erases $29.7 billion of market value, making it one of the worst weekly performances among music companies.
The Billboard Global Music Index (BGMI) also took a hit, falling 4.8% to 2,571.67, with only eight out of its 12 component companies posting gains while 11 finished the week with losses. The BGMI has not posted a gain in 10 weeks and now stands 17.5% below its all-time high.
This week's decline is part of a broader market downturn, with the Nasdaq falling 2.7%, the S&P 500 dropping 1.9%, and the UK's FTSE 100 sinking 1.6%. Other music companies like CTS Eventim shares rose 7.2% to 84.65 euros ($97.52), while Netease Cloud Music fell 7.1% to 189.40 HKD ($24.33).
Cumulus Media, a small radio broadcaster with a market capitalization of just $2 million, was the week's greatest gainer, rising 29%. However, its share price has still lost an impressive 85.7% in 2025.
The decline in Spotify shares comes as investors seem to be taking a cautious approach to the company's future prospects under co-CEOs Alex Norström and Gustav Söderström, who will assume leadership after Ek's departure.
Investors seem to be losing faith in the post-Ek era, with Spotify shares falling 19.9% since the announcement. This decline erases $29.7 billion of market value, making it one of the worst weekly performances among music companies.
The Billboard Global Music Index (BGMI) also took a hit, falling 4.8% to 2,571.67, with only eight out of its 12 component companies posting gains while 11 finished the week with losses. The BGMI has not posted a gain in 10 weeks and now stands 17.5% below its all-time high.
This week's decline is part of a broader market downturn, with the Nasdaq falling 2.7%, the S&P 500 dropping 1.9%, and the UK's FTSE 100 sinking 1.6%. Other music companies like CTS Eventim shares rose 7.2% to 84.65 euros ($97.52), while Netease Cloud Music fell 7.1% to 189.40 HKD ($24.33).
Cumulus Media, a small radio broadcaster with a market capitalization of just $2 million, was the week's greatest gainer, rising 29%. However, its share price has still lost an impressive 85.7% in 2025.
The decline in Spotify shares comes as investors seem to be taking a cautious approach to the company's future prospects under co-CEOs Alex Norström and Gustav Söderström, who will assume leadership after Ek's departure.
... I mean, I love Spotify too, but I'm not exactly a stock expert lol... so like, is it just me or did the price drop because of some new music that came out? 
I mean, wasn't there something about Billie Eilish's new album? 
Did that have anything to do with it? And what's going on with those other music companies? CTS Eventim rose like 7.2% tho? How does that compare to Spotify? 
. I mean, Ek stepping down doesn't necessarily mean the end of the world for the company 
. He was always super transparent about his plans, and it looks like he wanted to make sure there's a smooth transition for Alex and Gustav 
. It just seems like investors are getting a little nervous about how the company will adapt to this new leadership 
. I think Spotify's got some solid tech and talent on its side 
, so I'm not too worried about their future prospects 
... yet 
... it's like, what's driving the uncertainty about Spotify's future? Is it just fear of the unknown, or is there something deeper at play? I mean, we're seeing a broader market downturn, but when you look closer, it's not all doom and gloom. There are still some winners out there, like Cumulus Media 
... maybe that's a sign of something new and exciting emerging?
but $29 billion erased from market value? that's a big deal 
anyway, hope Ek and company come back strong 
. Plus, the music industry's a crazy space to navigate - there's so much competition out there! They'll bounce back, mark my words 
. And let's be real, who needs a single leader when you've got two talented CEOs like Norström and Söderström on board? 
their stock price is literally plummeting!! 20% drop in one week? that's crazy! i mean i knew ek was leaving but not like this 
so yeah no wonder shares are tanking 
. I think it's time to give alex and gustav some slack - they've got a tough job, but i'm not gonna lie, i'm a bit curious to see how they'll shake things up 
what's going on with those shares? 20% down is crazy talk! 
they need to bring their A-game ASAP or else the stock price is gonna keep plummeting 
. Give them some time to settle in, and I'm sure Spotify's stock will bounce back 
Still the best out there 
. I mean, we all knew Daniel Ek was leaving his role as CEO, so maybe it's not that shocking? 
But 20% drop in just one week? That's like, a lot 
. Maybe it's time to give them some more credit? 
i mean, ek was a genius 
and it's not just spotify, the whole music industry is feeling it 
, 20% down since dan ek announced he's stepping down as CEO lol what a mess 
. Twenty percent, that's huge! It's like, what's going on in Stockholm? Is Ek just done for real or something? And what about these new guys taking over, do they got what it takes to keep the magic alive? I'm keeping an eye on this one, will be interesting to see how it all plays out 
. Still, I'm keeping an eye on Spotify – I love their music discovery features and have a pretty sweet playlist going 
. It's just one of those things where you gotta take a deep breath and hope everything works out 
.