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Spotify stock soars on DC Comics, Kardashian podcast deals

By Fabrice Pierre-Toussaint

Staff Writer for Telegraph Local | See my LinkedIn

Spotify said Thursday it has a new partnership with DC and Warner Bros. to exclusively produce and distribute new episodes of narrative scripted podcasts featuring popular comic book characters.

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Spotify shares touched a new 52-week high Thursday, ending the day up more than 12%. 

The company says the deal includes the intellectual property of the entire DC universe, which includes the Superman, Wonder Woman, Batman, The Joker and Harley Quinn franchises, among others. Terms of the deal were not disclosed, and Spotify didn’t say when the first DC podcasts would be released, according to CNBC.

The news also comes the morning after sources from the  Wall Street Journal reported reality TV star Kim Kardashian West was entering into an exclusive podcast deal with the music streaming platform, sending shares up in extended trading Wednesday evening.

Spotify has made a series of high-profile acquisitions in the podcast space, including bringing on comedian Joe Rogan’s massively popular podcast exclusively to the platform, which he announced in May. In February, Spotify declared its plans to acquire sports and entertainment media company The Ringer, which has more than 30 podcasts in its network. Spotify also bought two other podcast companies last year, Gimlet Media and Anchor.

Spotify said in addition to producing narratives based on existing characters and franchises from Warner Bros. and DC, the companies will also work with Spotify to create new programming from original intellectual property. 

“Both new and reactivated monthly active users grew substantially even during lockdown periods in major markets,” Daniel Ek 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.”

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Podcast consumption grew by triple digits in the quarter compared to the year before, observations from the company’s first quarter earnings call in late April. It was also the company’s biggest quarter ever for organic podcast creation.

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