The bear case on Spotify is essentially that it is no Netflix. There is truth to that today, but it should become more Netflix-ish over time. And expectations are low. Management naturally sandbagged their long-term profitability targets at their investor day because, I believe, pointing to lofty profit targets would be unhelpful in negotiating royalty concessions from the labels.
Spotify
Spotify
Spotify
The bear case on Spotify is essentially that it is no Netflix. There is truth to that today, but it should become more Netflix-ish over time. And expectations are low. Management naturally sandbagged their long-term profitability targets at their investor day because, I believe, pointing to lofty profit targets would be unhelpful in negotiating royalty concessions from the labels.