Setlist: Spotify tells investors everything’s fine, honest

CMU’s Andy Malt and Chris Cooke review key events in music and the music business from the last week, including Spotify's Investor Day, in which CEO Daniel Ek and other execs at the streaming service told investors that the company’s strategy of recent years to become an audio platform rather than just a music platform will ultimately result in a business that “can generate $100 billion in revenue annually” and “achieve a 40% gross margin and a 20% operating margin”.

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STORIES DISCUSSED THIS WEEK
• Spotify boss says his big ambitions in audio at large will deliver mega-revenues and better margins
• US bank upbeat about Spotify, lumping it in with Netflix is an “overgeneralisation”
• Spotify Shares Our Vision To Become the World’s Creator Platform (Spotify blog post)

ALSO MENTIONED
• 50+ music industry organisations call for a PRS rethink on PRS Foundation funding