A quick look at Spotify's sport strategy: Including huge investment in podcasts and a first of its kind deal with League of Legends.
While Spotify is often viewed as a music streaming platform, through an expansive podcast strategy, the platform is trying to shake off that association and position itself more broadly, as “The largest audio platform in the world”, according to The Drum. In May, Spotify made a colossal investment, worth “more than $100m”, to secure exclusive rights to Joe Rogan – comedian, MMA commentator, and an extremely popular podcaster. Prior to the deal, The Joe Rogan Experience was downloaded 190m times a week. It was the most popular podcast on Apple platforms last year, and his vodcasts on YouTube have garnered over 2 billion views to date. As such, it has redefined where the money is - as far as talent is concerned. To put that into context, The Drum calculated a musician would need to generate 23 billion streams on Spotify to earn what the platform is paying Rogan for his podcast. The audio platform has also made a number of other high-profile acquisitions, including signing Michelle Obama, and buying The Ringer, to boost its sports podcast content. In alignment with Spotify’s strategy, the shows are to be integrated into its new playlists, such as Daily Wellness,Your Daily Drive, (which debuted in April and June) and the recently announced Daily Sports, that will feature a mix of music and podcasts. I would expect this to lead a charge from other rights holders to create content partnerships with the platform moving forward. Just this week, Spotify was named ‘Global Audio Service Provider’ of League of Legends. The Esports Observer report that, “the sides will create a League of Legends hub on the Spotify platform that will have exclusive content, including a podcast to give a behind-the-scenes look at the creation of this year’s World Championship anthem”.
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