Spotify signs podcast deal with DC Entertainment
Spotify’s shares jumped 8.5% on the news.
Podcasts featuring Batman, Wonder Woman and Superman will soon stream on Spotify as the Swedish music streaming company has signed a deal with AT&T Inc's Warner Bros and DC Entertainment.
Warner and DC will produce and distribute an original slate of narrative scripted podcasts exclusively for the streaming service, Spotify Technology SA said in a statement.
Financial terms of the deal were not disclosed. Spotify's shares jumped 8.5% on the news.
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The company said that 19% of its total monthly active users listened to podcasts in the first quarter, up sequentially from 16%.
Spotify's push into podcasts has helped it drive subscription at a time when many are home-bound due to the coronavirus outbreak, Chief Executive Officer Daniel Ek had earlier said.
