Spotify stock has hit its all-time high, with share prices jumping to 16.1% this week. Their total comes out to $330.82 with bestowed momentum from its podcasts like ‘The Joe Rogan Experience‘ and its ‘Wrapped‘ feature. Plus, exclusives from Michele Obama, Kim K, and others also made it.
A Look Further Into Why
The music subscription service is valued at $62.7 billion. Luckily they haven’t fallen victim to the COVID-19 pandemic. Their 121.2% gain YTD is an incredible increase from their low of $109.18 earlier this year.
This may be an investor’s wet dream, and it could be yours too if you’re looking to invest. Since the pandemic hit and outdoor gatherings have ceased, the world turned to the digital era. For a premium price with no ads, the streaming service is one of the dominating contenders in the digital race.
All About ‘Wrapped’ Success
‘Wrapped‘ is actually pretty neat. It’s a personalized experience for listeners around the world. You can look back on how old you are just by looking at what you’ve listened to. As the friendly competition and meme wars relish, the feature is a great way to stay connected with your musical tastes. Plus, you support your favorite artists and we love the curated playlists.
You get in-app quizzes, a journey through the ‘Story of Your 2020’, and a creator experience for podcasters and artists. In addition, the feature rolled out for non-subscribers as well. The platform acquired Anchor, Megaphone, Gimlet Media, and Parcast last year. As a result, they accrued more than 1 million new podcasts to Spotify for 2020. You even get horoscope podcasts.
Tons of new interactive features gauge how listeners listen. Your top trending podcasts appear on your home screen. Plus, notifications have ramped up for more active listening and participation.
Into The Future
The company poured over $800 million into the app over the last couple of years on podcast content and technology deals. No wonder this marks their greatest jump yet. They’ve taken their services international as well, which include Germany, Sweden, the UK, Mexico, and Brazil. Right now, the company is even leading against Warner Music Group and Tencent. As the pandemic continues well into next year, we’ll see where things end up.