Do any sell-side firms do channel checks on SPOT or other streaming co.’s?
Curious as I’ve never heard anyone doing this in a meaningful way and not sure how it’d even be done.
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Not exactly a "channel check" since they're direct to consumers but typically this is how we did it when we were holding onto a large public position. I will note that the alpha on this data, if there is any left, decays in days of release.
1. Buy app download data -- Back in the day it was App Annie and a handful of other trackers to get directional understanding of incremental active listeners.
2. Run consumer surveys in different regions -- Have to work with 3rd parties to develop this but you can get a sense of the market share changes between streaming services here. It's going to be less valuable for calling a quarter and more validating a thesis against a competitor or regional expansion.
3. Credit card data -- We didn't really purchase this anymore but you can get a directional indication of subscriber growth.
Open to hearing how other people diligence these platforms.
Why would they? There is literally weekly/daily data that says how the company’s subscribers are doing.
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