Today's Above Avalon daily update includes the following topics:

Spotify Earnings
Daniel Ek’s Audio Manifesto
Sonos Earnings

We kick off today’s email by going over Spotify’s 4Q18 earnings. In particular, we discuss where Spotify is growing and how it compares to Apple Music growth. The discussion then turns to Spotify co-founder and CEO Daniel Ek’s blog post regarding an audio-first path ahead for Spotify. We also discuss the idea of Apple following Spotify into original audio storytelling (exclusive podcasts). The update concludes with a look at Sonos earnings. Things aren’t looking good for Sonos.

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