Spotify Technology S.A. (NYSE: SPOT) and publisher DC Comics, a unit of WarnerMedia, plan to expand their multiyear deal reached in June last year for narrative-scripted podcasts on DC’s superheroes.
Batman Unburied, the two companies’ first project executive produced by David Goyer, is scheduled to be released later this year.
What Happened: The companies now intend to launch a new Batman podcast series alongside nine audio series on other DC characters like Superman, Lois Lane, Wonder Woman, Joker and Catwoman, among others. The plan was disclosed at Spotify’s Stream On event Monday by Jim Lee, the Chief Creative Officer of DC, and Goyer.
Spotify is also expanding its international footprint by launching its audio streaming subscription services to more than 80 new markets in Asia, Africa, the Caribbean, Europe and Latin America, representing more than 1 billion people.
Spotify noted that the rich music culture in these markets will be able to reach the company’s global audience. The company will work with local creators and partners to expand its music offering and cater to the requirements of each market.
Further, Spotify has launched a new eight-episode podcast, “Renegades: Born in the USA” co-hosted by former U.S. President Barack Obama and rock music idol Bruce Springsteen.
The first two episodes that went live Monday featured Obama and Springsteen recalling their formative years as outsiders and discussing the state of race relations in today’s America.
Why It Matters: The expansion of the Spotify-DC podcast deal comes as competition has intensified in the podcasting space in recent years. Marvel, DC Comics’ rival, has entered into podcasting deals with Pandora and Stitcher, both owned by satellite radio company Sirius XM Holdings Inc. (NASDAQ: SIRI).
Price Action: Spotify shares closed 4% lower at $349.91 on Monday.
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