Spotify's Stream On event:

"By 2025, we could have 50m creators on our platform, whose art is enjoyed by 1b users around the world. We want to be the place educators, entrepreneurs, storytellers, and artists can touch the world through audio" - @eldsjal

Spotify says it has 40% market share of music streaming and will get to a similar share in podcasting.

Paid-audio increases from $7b to $40b/yr. Combined with podcasting, becomes a $55b opportunity.

One of the more interesting things Spotify's doing: investors have always focused on perpetually low gross margins due to payouts to record labels. The biggest expense for most labels is marketing. Spotify's now starting to capture some of that marketing spend on its ad platform.
"Spotify expects to be major players in subscriptions, ads, and a la carte transactions. Today, most people believe internet companies are only one thing (we're 90% subs, 10% ads). We like to believe future media companies will have a combination of different business models."

• • •

Missing some Tweet in this thread? You can try to force a refresh

Keep Current with Turner Novak

Turner Novak Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!


Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @TurnerNovak

25 Feb
“Online friend finding and social discovery is currently growing twice as fast as online dating, and we think it will be a 2x larger market as well" - Match Group

👀 👀 👀
fwiw, all these apps will add audio rooms (long $API), video rooms, games, messaging tools that reduce friction of self expression (AR filters, stickers), subscriptions, etc.

Winners will figure out moderation at scale, move fastest on new features, and crack long-term retention
we may see some vertical products emerge IE friend finding for gamers. Winners will be ones who build a unique, defensible social / interest graph (we also may just see these swallowed over time by co's with existing matching algo's and monetization models like Match, Yubo, etc)
Read 5 tweets
13 Feb
looking at my 25 startups investments in 2019-20, the two best performing consumer social co’s are literally just built on top of slack and WhatsApp. The founders created for a new format that was underserved, moved quick building, and gradually built their own app over time.
tbt to this tweet, thank you to all the awesome people and founders I connected with over this!
this deep dive on PDD was also critical and connected me with so many awesome people building similar co’s all around the world…
Read 5 tweets
6 Feb
Quick thoughts + charts on $SNAP Q4 earnings
For the first time ever, Snap's largest user base is now Rest of World, or users outside North America and Europe
Snap's NorthAm / EU user growth held steady in the 8-12% range the past year, RoW continues accelerating. Wouldn't be surprised if total userbase exceeds 1 billion within five years.
Read 10 tweets
25 Jan
For everyone asking, current positioning:

Cash 18.4%
SNAP 27.1%
GME 12.0%
PDD 8.2%
SNAP Calls 7.2%
SFIX 6.5%
DIS 6.2%
SQ 5.9%
TWLO 4.7%
UBER 2.0%
SHOP 1.9%

Sold all my GME calls on the 22nd. Dumb luck easing into the stock on the 11th + 12th. Going to start trimming it today.
I also took 2x profits off the table on the FUBO puts, sold the rest at a loss a week later. This is why I very rarely short 😂
Trimming GME because we're nearing $10b in EV, which I thought was the low probability bull case by end of 2021
Read 5 tweets
16 Nov 20
Pinduoduo recently launched Duo Duo Maicai, which lets customers pick-up online orders from local shops. It was all analysts talked about on its Q3 earnings call last week and its stock jumped 30% the following two days.

Quick thread:
A pick-up ecommerce model pools multiple last mile delivery legs into one trip. 20 orders becomes just one delivery.

This lowers logistics costs significantly, which unlocks ecommerce for lower priced products, new behaviors, and makes it more accessible for low income consumers
A pick-up model also drives foot traffic to local shops. It's not a stretch to think one day we'll will bid on ecommerce pick-up traffic like digital ads.

An ad network like Pinduoduo's spanning manufacturers, consumer app, and in-person trips will likely be very, very valuable.
Read 6 tweets
22 Aug 20
Stitch Fix is likely a $100b company within 10 years. Quick thread:
Stitch Fix owns a direct channel to recommend and ship products to 3.5m users (growing 20%/yr). Many are caught up in Pinduoduo’s "social commerce" model, but the real beauty is its ability to directly influence demand and thus optimize its operations and supply chain accordingly
Due to its understanding of exactly what customers want (aka what they will purchase) and direct influence over customer demand, Stitch Fix can essentially sell whatever products are best for its business*

*caveat that this should always align with what’s best for the customer
Read 13 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!