Kim Kardashian West and Thursday’s (June 18) news of a multi-year, multi-project with Warner Bros., Spotify’s share price jumped 23% to an all-time high of $228.16 in midday trading before closing at $225.28.Since Spotify announced its exclusive licensing deal with Joe Rogan for his podcast, The Joe Rogan Experience, on May 19, Spotify’s share price has soared 38.5% and lifted its market capitalization $12.41 billion from $30.02 billion to $42.43 billion.
At that valuation, Spotify’s market value is more than twice as much as Warner Music Group, the lone major music group traded on a stock exchange, at $19.24 billion on Thursday, and considerably higher than Universal Music Group’s $33.3 billion valuation based on Tencent’s investment in.
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