Spotify (NYSE: SPOT) thinks it can grow its business to become much larger than it thought just a few years ago. CEO Daniel Ek said the company made a key change in 2019, shifting from music distribution to becoming a platform for all of digital audio.

As a result, a lot of its outlook during its 2018 investor day requires some revisiting. And management gave a very optimistic forecast for the business over the next decade at its analyst day earlier this month.

The key future numbers are: 1 billion listeners, $100 billion in annual revenue, 40% gross margin, and 20% operating margin. On the top line, that represents nearly 10 times where it is today.

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Source Fool.com