VOL. XCIV, NO. 247
★ WIDE MOAT STOCKS COMPARISON ★
NO ADVICE
Wednesday, January 7, 2026
Stock Comparison
Evolution AB vs Spotify Technology S.A.
Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.
Evolution AB
EVO · Nasdaq Stockholm
Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.
Full stock profile
Dive deeper into Evolution AB's moat claims, evidence, and risks.
View EVO analysisSpotify Technology S.A.
SPOT · New York Stock Exchange
Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.
Full stock profile
Dive deeper into Spotify Technology S.A.'s moat claims, evidence, and risks.
View SPOT analysisComparison highlights
- Moat score gap: Evolution AB leads (94 / 100 vs 65 / 100 for Spotify Technology S.A.).
- Segment focus: Evolution AB has 2 segments (86.1% in Live Casino); Spotify Technology S.A. has 2 segments (88.2% in Premium (subscription)).
- Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
- Moat breadth: Evolution AB has 4 moat types across 3 domains; Spotify Technology S.A. has 6 across 4.
Primary market context
Evolution AB
Live Casino
B2B supply of online live casino games (live dealer & game shows)
Regulated jurisdictions (global; UK data point for concentration)
Online gambling operators (B2C)
B2B content & platform supplier
86.1%
Spotify Technology S.A.
Premium (subscription)
Paid music and audio streaming subscriptions
Global
Consumers (end-users) and distribution partners (e.g., telcos)
Streaming platform operator
88.2%
Side-by-side metrics
Moat coverage
Shared moat types
No overlap yet.
Evolution AB strengths
Spotify Technology S.A. strengths
Segment mix
Evolution AB segments
Full profile >Live Casino
Oligopoly
RNG / Slots & Digital Casino Games
Competitive
Spotify Technology S.A. segments
Full profile >Premium (subscription)
Oligopoly
Ad-Supported (advertising)
Competitive
Want the full wide moat stocks list?
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View the moat stocks listLooking for expansion-stage stocks?
Proven models entering the expansion stage with unit economics that work.
View expansion-stage stocksCuration & Accuracy
This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).
Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.