Spotify Signs Podcast Deal with DC Comics and Kardashian West And Stock Soars
Last Thursday, the company announced that it had partnered with DC and Warner Bros one day after it signed Kim Kardashian West to a podcast deal, according to CNBC.
Spotify's partnership with DC and Warner Bros. will allow them to produce and distribute a new genre of podcasts featuring popular comic book characters. Spotify stock soared on the news reaching a new 52 week high. The deal includes the intellectual property of DC's entire universe, including Superman, Wonder Woman, Batman, The Joker and Harley Quinn. Spotify did not disclose when these new podcasts would be released.
One day earlier, it was reported that Spotify was finalizing an exclusive podcast deal with celebrity Kim Kardashian West. Recently, Spotify has made serious moves to bolster its podcast offerings. In May, the company signed a massive deal with Joe Rogan. In February, Spotify announced plans to acquire The Ringer. Last year, Spotify bought podcast companies Gimlet Media and Anchor.
In late April during Spotify's first-quarter earnings call, Chief Executive Daniel Ek said podcast consumption had increased by triple digits compared to the year prior. All of this sending there stock price to $241.76 prior to the opening bell on June 24th, a 52 week high.
"Both new and reactivated [monthly active users] grew substantially even during lockdown periods in major markets," he said. "And we believe this is a testament to how engaging our platform and ecosystem are to our users. And last year, as you all know, we outlined a vision to be the world's largest audio platform, and we've made significant progress. We now have more than 1 million podcasts on the platform, and we're the No. 1 audio service for podcasts in dozens of countries around the world and quickly gaining ground where we're not."