Spotify Technology S.A. (SPOT) stock is soaring 5.15% in pre-market trading on Friday, following news that Apple has approved Spotify's U.S. app update. This update allows Spotify to show pricing information and provide links for users to purchase subscriptions directly through the app, bypassing Apple's payment system.

The approved app update is a significant win for Spotify, as it enables the music streaming giant to offer more transparent pricing and payment options to its U.S. customers. Spotify spokesperson Jeanne Moran stated, "After nearly a decade, this will finally allow us to freely show clear pricing information and links to purchase, fostering transparency and choice for U.S. consumers." This development is expected to potentially boost Spotify's revenue and user growth in the U.S. market.

The approval comes on the heels of a federal judge's order on Thursday, requiring Apple to stop violating a 2021 injunction that mandated opening the App Store to rivals on antitrust grounds. This ruling is part of an ongoing dispute between Apple and various tech companies, including Spotify, over App Store policies that require developers to pay a commission on in-app purchases. The court's decision and Apple's subsequent approval of Spotify's update mark a significant shift in the tech giant's App Store practices, potentially benefiting not only Spotify but also other app developers.