Moat Index
Companies· Consumer & Media

SpotifySPOT

Moat score

The largest audio platform in the world, renting the thing it sells from three labels.

MOATE2.6Solid
2.6 Solid
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DimensionMOATECommunity
Switching costsweight 15Playlists and library history are sticky for engaged users; casual users switch with a bundle.5
Network effectsweight 15Playlists and podcasts add some social pull; not a true network.4
Scale & cost advantageweight 12The largest subscriber base in music; scale improves recommendation and ad economics.8
Brand & pricing powerweight 12Recent price increases stuck, a first in its history.7
Cornered resourceweight 12Does not own the music; the labels do. Podcasts and audiobooks are the attempt to change that.4
Distribution controlweight 12A default on many devices, but pays the platform stores for the privilege.6
Disruption resilienceweight 12Apple Music and YouTube Music are bundled by the companies that own the devices.5
Independenceweight 10Three labels hold the content and the platform owners hold the checkout.3

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How strong is Spotify's moat?

Question 1 of 8

Switching costs

Switching costs · weight 15

How painful — in money, time, risk, retraining — is it for a customer to leave?

5