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This phrase is used to confirm a statement as being absolutely correct and worthy.

It can also be used as a declaration of excellence.
"The price of that car is spot on!"

"I thought his analysis of the play was spot on"
spot on by Amy June 28, 2004
Term used to describe something that is absolutely correct.
"Your rendition of that was absolutely spot on..."
spot on by MrRush June 28, 2004
Your impersonation of ol' Tony with 'is nose stuck in Georgie's bum was spot on!
spot on by Panther Wyvern June 28, 2004
You may be spot on.
spot on by PineappleJuice March 14, 2015
Pompous faux-British sounding way of saying something is perfect, or "on target".
That charred arugula salad is simply spot on!
spot on by Her Majesty's Agent January 29, 2017
A much overused word in 2012 used by media and in popular usage as well. Spot on Spot on Spot on. Me -- shut the hell up. Why not just say right on or your right or that's right anything but spot on. Its just used too much at the moment. A very overused catch phrase I would like to see phased out of the popular lexicon.
Person tv media utube video 'spot on'

Me ahhhh hold head in my hands and weep.
spot on by sylvianrues November 10, 2012