Spotify´s equity research: Spotify’s dominance in the market

The report consist in an Equity Research on Spotify, which is the largest platform that allows users to listen music and podcasts. The music streaming market is expected to grow at CAGR of 14.6% until 2026. Spotify has a clear competitive advantage in relation to its competitors as its platform offers more features and its prices are in line with them. Spotify has exposure to the Chinese market through its 9% investment in TME, which is the largest music streaming company in China. Therefore, we expect a price per share of 182.24$, which corresponds to a 21.9% return in 2020