Spotify Just Got a Big Boost From Apple
Late on Wednesday, Apple (NASDAQ: AAPL) announced changes to its app store policy that could have a big impact on Spotify's (NYSE: SPOT) bottom line. Apple said it would allow "reader" apps like Spotify to link to a website to create an account and set up payment. Previously, linking to signup outside of Apple's ecosystem, which comes with a 30% fee for any payments, was not allowed.
A single link may not sound like a big deal, but the economic impact on Spotify could be huge. The company can now begin to steer listeners to its website to sign up for services, saving a huge amount in fees. And this could make Spotify stock an even better growth stock for investors.
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Source Fool.com
