Spotify (SPOT 0.93%), the streaming music service, is deepening its presence in the podcast market. The company announced a new multiyear deal with Warner Bros. and DC to produce and distribute original scripted podcasts on the platform.
Spotify said the deal marks the first time a company has access to the entire DC Universe catalog. The two will also draw upon Warner Bros. studios to create stand-alone podcasts. Warner Bros. Digital Networks will manage the partnerships while Blue Ribbon Content, Warner Bros. Television Group's digital studio will oversee, co-develop, and produce the programming with Spotify. Spotify will be in charge of marketing, advertising, and distribution of the shows on its platform.
"Take it from your favorite super heroes (or even super villains): The League gets the job done. So in the spirit of Batman and Robin, the [Justice League], or the Birds of Prey, Spotify is entering into a new multiyear partnership with Warner Bros. and DC to produce and distribute an original slate of narrative scripted podcasts exclusively on Spotify," wrote Spotify when announcing the multiyear deal. The terms of the partnership were not disclosed. Through the deal, the tech stock gets access to famed superheroes and villains including Superman, Batman, Wonder Woman, the Joker, and Harley Quinn.
The deal marks the latest effort on the part of Spotify to build out its podcast business. In May, shares of Spotify surged after the company announced it inked a multiyear deal with Joe Rogan, the popular podcast host. The exclusive partnership lasts several years and, according to Variety, is worth more than $100 million. Spotify has already signed deals with President Barack Obama and former first lady Michelle Obama's production company, and with Kim Kardashian West, noted Variety.