Why Evercore ISI Analyst Rippey Downgraded Spotify

The video discusses Spotify's challenges in achieving profitability amidst intense global competition, particularly from Apple Music. It examines Spotify's strategies, including its focus on podcasts, and evaluates the impact of its direct listing. The discussion highlights the competitive landscape in various markets and questions the sustainability of Spotify's business model as a standalone streaming service.

Discuss the implications of Spotify's direct listing on its stock performance.

What are the potential risks associated with Spotify being a 'pure play' in the streaming music industry?