Spotify Technology SA SPOT has signed an exclusive deal with reality star Kim Kardashian West for a podcast, the Wall Street Journal reported Wednesday.
What Happened
The podcast with the theme of criminal justice co-hosted by Kardashian West will be available solely on Spotify under the deal, people familiar with the matter told the Journal.
An investigation into the case of Kevin Keith, who was convicted for a triple homicide in 1994 by television producer Lori Rothschild Ansaldi will be the subject of the show, according to the Journal.
Ansaldi will co-produce and co-host the show with Kardashian West, the Journal noted.
Why It Matters
Kardashian West's deal with Spotify comes in the aftermath of the death of George Floyd, which has sparked widespread protests across the United States against what is called systematic racism facing the black community.
Spotify has been looking to expand its podcast business in recent months. The music streaming company last month signed a $100 million deal with Joe Rogan.
Analysts at the time said Rogan coming on board with Spotify exclusively would significantly increase Spotify's user base and revenue.
Spotify Price Action
Spotify shares closed 7.7% higher at $199.83 on Wednesday and inched further higher in the after-hours to hit the $200 mark.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
