Spotify Signs 'League Of Legends' Exclusive Partnership

Spotify Technology SPOT signed an exclusive sponsorship with Riot Game’s “League of Legends." Spotify will be the exclusive audio service provider for all LOL content.

What You Need To Know: According to Variety, Spotify signed its first global paid sponsorship deal to gain access to the huge fan base of "League of Legends." The multi-year sponsorship will center heavily on content on around the League of Legends World Championship in Shanghai, China (Sept. 25 to Oct. 31).

A nine-part podcast called “Untold Stories: Top Moments From Worlds” will be featured on Spotify along with playlists and a look at the new world anthem for the championship.

Why It’s Important: Last year’s League of Legends World Championship had 21.8 million average viewers. Spotify will get banner placement during LOL broadcasts. On Spotify, LOL’s tracks are listened to 5 million times a month.

Spotify has been focusing on growing its podcast business. The company has 299 million monthly active users and 138 million premium subscribers. In the second quarter, 21% of MAUs listened to podcasts.

What’s Next: Spotify will launch “The Joe Rogan Experience” podcast as a platform exclusive in September. The company is forecasting having 328 million to 348 million MAUs by the end of the fiscal year.