![]() “It is one of the most loved platforms out there. “Other big tech companies – Apple, Amazon – they have their own systems, but they are not (in our view, at least) optimizing really for both creators and listeners,” Markowitz proceeded. “The core thesis on Spotify, which we wrote a little bit about it, and the market really seems to maybe not grasp this, is there is a ton of opportunity to leverage that platform of – right now 365 million, but eventually a billion users, 50 million creators eventually – and really have truly the world-class platform for audio. How many platforms in the world have a billion users? Really, very few. ![]() As of today, the long-term plan is to get to a billion. “There’s roughly 365 million monthly active users. “Spotify is such an interesting company,” said Markowitz. Worm Capital also pointed to an interview given by its director of research, Eric Markowitz, for a more in-depth explanation of the perceived potential associated with Spotify stock. The latter, the document continues, is attributable to Spotify’s “expanding territory,” working to reduce “frictions for creators,” “enabling the next generation of audio advertising,” and “continuously experimenting to improve the experience for both creators and fans to create an essential platform.” “Although the market has pummeled this position in recent months, falling more than 35% from all-time highs-and has contributed significantly to our negative year-to-date performance-the company is meeting and often exceeding our internal expectations.” “Spotify is a wonderful example of this dynamic,” continues the Q3 2021 report. ![]() After emphasizing the investment-management firm’s confidence in “aggregating marginal gains,” the quarterly performance analysis notes that each of the companies in Worm Capital’s “core portfolio” (Tesla, Spotify, Shopify, Airbnb, and Amazon) seeks to take a series of small, gradual steps towards significant growth. Higher-ups at Boulder, Colorado-headquartered Worm Capital made the bold prediction – and explained their positive outlook regarding Spotify’s long-term potential – in a newly published Q3 2021 earnings report. ![]() Though Spotify stock (NYSE: SPOT) has parted with more than one-quarter of its value since the start of 2021, financial professionals at five-year-old Worm Capital are confident that the Stockholm-based audio-entertainment company “will ultimately prove out to be the Google of audio.”
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