Spotify stock jumped 16% on Wednesday to close at an all-time daily high of $320.89.
The reasons for investor confidence include a bit of year-end mania amplified by the release of the annual Spotify Wrapped for fans and artists alongside strong podcast stats and a slew of newly released and in beta streaming features.
Spotify-owned podcast app Anchor drove the creation of 80% of all new (and mostly small) podcasts on the platform in 2020. There are now over 1.9 million podcasts on Spotify.
In October, Spotify introduced a new show format that allows creators to combine talk segments with music from the streaming platform’s catalog of 65 million licensed songs using the Anchor platform.
