5/19/2020, 9:43 PM (Source: TeleTrader)
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Spotify jumps around 10% as it lands podcast deal

Spotify Technology SA shares jumped around 10% in the last hour of the trading day on Tuesday as stand up comedian Joe Rogan announced his podcast The Joe Rogan Experience would be available on Spotify as of September 1 and the deal would become exclusive to the platform as of 2021.

Rogan wrote on Instagram: "Starting on September 1 the podcast will be available on Spotify as well as all platforms, and then at the end of the year it will move exclusively to Spotify, including the video version. It will remain FREE, and it will be the exact same show. It’s just a licensing deal, so Spotify won’t have any creative control over the show. " He added: "We will still have clips up on YouTube but full versions of the show will only be on Spotify after the end of the year."

Spotify surged 9.17% to $176.38 per share at 3:26 pm ET. The stocks reached a daily high of $179.69 minutes earlier.

Breaking the News / VP