Obamas jump into booming podcast business with Spotify partnership

LOS ANGELES: Former U.S. President Barack Obama and his wife Michelle entered the booming podcast business on Thursday, announcing a multi-year partnership with streaming service Spotify to produce a series of exclusive podcasts.

Spotify Technology SA, the world's largest music streaming service with more than 217 million monthly active users, will distribute the podcasts to audiences across the globe, the statement said. The number of Americans listening to podcasts surged 35per cent in the last three years as content has expanded, according to a 2018 study by consumer data company statista.com.Spotify purchased three podcast companies this year, and has said it has earmarked up to US$500 million for podcast acquisitions.

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