09/17/2020

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Spotify Doubles Down on Podcasts



The Spree Continues


Spotify (SPOT) has invested over $600 million in podcast content this year. The company hopes this will not only drive advertising revenue but allow it to expand, offering more than just music streaming.

Earlier this year, Spotify bought the Ringer, which creates sports and pop culture podcasts. It also signed an exclusive deal to bring Joe Rogan’s podcast, The Joe Rogan Experience, to the platform.

Last week, Spotify continued its spending spree by signing two separate podcast deals—the first with DC Entertainment, owned by Warner Bros. (T), and the second with Kim Kardashian West. On Thursday, after the deals went through, Spotify’s shares spiked more than 10%, reaching their highest level in a year.

Deals With Kim Kardashian West and DC Entertainment


Through its partnership with DC Entertainment, Spotify will produce and distribute scripted podcasts centered around characters like Superman, Wonder Woman, and Batman. They are setting out to create a new form of podcast storytelling with an intricate web of plot lines, much like the popular DC Entertainment Marvel films.

Spotify will also produce an exclusive podcast with Kim Kardashian West. The show will cover West’s work with the criminal justice reform nonprofit, The Innocence Project. Spotify hopes the podcast will draw in listeners looking to join the current conversation about racial justice and police reform in the US.

Speaking of Spotify: SoFi’s Daily Podcast Hits Streaming Platforms


In related news, SoFi’s Daily Podcast just launched on Spotify , Apple Podcasts , and elsewhere . How can you reach financial independence? It’s about saving, borrowing, spending, investing, and protecting your money better—and that all starts with having the right information. Every weekday morning, the SoFi Daily Podcast is here with the highlights to keep you up to date on important business news and stock market happenings—and how they may affect your financial life.

Be sure to subscribe on Apple Podcasts , Spotify , or wherever you get your podcasts and don’t forget to rate, comment, and share.


Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Advisor
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