Spotify Technology SA gained the most in seven weeks after reports that the music streaming service has already added more than one million users in India.
The shares rose 3.7% at 3:42 pm in New York, on pace for their biggest gain since January 14.
Billboard reported on Monday afternoon that the music streaming service signed up more than a million unique users for free and premium offerings less than a week after launching in India.
India has been regarded as the next go-to market for streaming services as local telecom providers have poured billions of dollars into bringing the country online.
Netflix has also identified the region as a key growth opportunity. More than 150 million people have broadband connectivity, mostly via mobile devices.