🎧 Spotify: Let the music play
Can high retention and advertising save razor-thin unit economics?
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Spotify (SPOT) recently reported its Q3 FY22 earnings report.
Today, we’ll cover the following:
Spotify is a Sweden-based audio streaming company founded in 2006 by Daniel Ek and Martin Lorentzon. It has become the largest music platform in the world.
The company has transformed the music industry by moving from a “transaction-based” experience of buying and owning music to an “access-based” model to stream music on demand.
They are now investing in podcasts and other audio content to complement the music library and become a media/discovery platform.
Before we start, let’s discuss how Spotify makes money.