Spotify-Comcast Deal Puts Streaming Offerings on Xfinity

Spotify's deal with Comcast makes 50 million music tracks and more than 1 million podcasts available to stream on Xfinity.
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Spotify  (SPOT) - Get Report shares on Tuesday were climbing after the streaming company reached a deal to make its offerings available across cable giant Comcast's  (CMCSA) - Get Report Xfinity.

Shares of Stockholm-based Spotify at last check were up 2.5% to $242, while Philadelphia-based Comcast was up 1.2% to $38.91.

The agreement, whereby Spotify launches on Xfinity X1 and Flex, calls for the music and audio streaming service’s 50 million music tracks and more than 1 million podcasts to be available to stream on Xfinity.

Comcast said streaming-music consumption among its TV and broadband users has grown by double-digits percent year over year. 

This trend has grown as more people are working from home due to the coronavirus pandemic.

Comcast has other music and audio streaming services on X1 and Flex, including Pandora  (SIRI) - Get Report, Amazon  (AMZN) - Get Report Music, Radio.com  (ETM) - Get Report, iHeartRadio  (IHRT) - Get Report, and NPR One. 

In addition, Comcast offers such video services as including Netflix  (NFLX) - Get Report, YouTube  (GOOGL) - Get Report, Amazon Prime Video, and Hulu  (DIS) - Get Report.

Xfinity Flex customers can speak “Spotify” into their Xfinity Voice Remote to access Spotify Free or Spotify Premium, Comcast said. New customers will be able to create a Spotify account directly on the device. 

The agreement with Comcast is the latest in a series of deals for Spotify. Last month, the company unveiled an agreement with podcaster Joe Rogan, host of "The Joe Rogan Experience," to move his show exclusively to Spotify. 

The company has also inked agreements with Kim Kardashian West for a podcast on criminal-justice reform, and AT&T's  (T) - Get Report Warner Bros. and DC Entertainment to launch an exclusive set of "narrative scripted podcasts" involving DC Comics superheroes.