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Despite the current tough circumstances, Spotify is continuing its investment in the podcast streaming business. The company has launched 17 new editorial podcast playlists. SPOT stock is down today.
Stock of international media services provider Spotify (NASDAQ: SPOT) is down today. Having opened at $142.70, it has dropped by 3.58% by the moment of writing and is currently trading at $139.36 per share. Spotify stock is still down from $154 it was in February, but it has great potential in the long term.
Before the coronavirus pandemic started, Spotify was a leader in the streaming music industry. But now there numerous risks for the company. Its revenues will probably collapse, as listening hours on Spotify are down because of stay-at-home orders. People do not commute to work, do not attend gym trainings. Therefore, Spotify will be hit hard.
Spotify Rolls Out New Podcast Playlists while SPOT Stock Is Down
Despite these tough circumstances, Spotify is continuing its investment in the podcast streaming business. The company has launched 17 new editorial podcast playlists. Now it will be much easier for users to find music. Besides, users will be able to create their own podcasts with their favorite tunes.
— Spotify (@Spotify) April 21, 2020
Spotify has categorized new playlists into different genres and categories that cover all kinds of topics: science, food, etc. The company’s editorial team will keep track of the podcasts and update them on a regular basis.
Among the new set are Crime Scene, Brain Snacks, and Best Podcasts of the Week. Crime Scene will be updated weekly with all types of crime content from famous true crime brands. Brain Snacks is for those who “get in the know,” as it will enable users to learn by providing fresh episodes every other week. Best Podcasts of the Week will be updated on Tuesdays and include the top episodes of the week.
Other podcasts are Murder Monday, Who Run the World?, This Week in Hollywood, Family-Friendly Fun, Latinx & Proud, Talk Flirty to Me, Fodder for Foodies, LGBTQ+ Voices, Unsolved Crimes & Mysteries, Climate Crisis, Real People, Real Stories, Let’s Talk Women in Hip Hop, Stay in the Know, and 100% Celebrity Interviews.
Courtney Holt, VP and Global Head of Studios & Video, commented:
“I think that a lot of people are changing behaviors for a limited time, but we also have signals — we look at our platform globally — and we’re seeing different datasets in different markets who are in different stages of pandemic response.”
The move is the way for Spotify to make better suggestions for its users as well as an easy discovery. The new set of podcasts is already available for users in the U.S., Germany, Sweden, the UK, Mexico, and Brazil.