Meet Spotify’s newest stars – the Obamas!
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Meet Spotify’s newest stars – the Obamas!

You may have heard of music streaming market leader Spotify’s latest superstars: Barack and Michelle Obama. The former president and first lady have agreed to produce a series of podcasts for Spotify through their production company Higher Ground. Higher Ground was launched last year with an eye to develop Netflix films, documentaries, and series. Its move into podcasting signals that President and Mrs. Obama still feel like they have a lot to offer public life.

Spotify’s share price rose by 14% over the last five days

Spotify June 11th

Source: Yahoo Finance

The deal was announced by Higher Ground last Thursday, and it marks a coup for Spotify. While President Obama hasn’t sat in the White House for three years, he remains a poll-topper in the frequent lists of “America’s Best Living Presidents” and the like. His wife Michelle was similarly popular as first lady, and is widely believed to have used her visibility throughout the two-term-presidency to further a range of important social issues.

In an announcement last week, President Obama said: “We’ve always believed in the value of entertaining, thought-provoking conversation. It helps us build connections with each other and open ourselves up to new ideas. We’re excited about Higher Ground Audio because podcasts offer an extraordinary opportunity to foster productive dialogue, make people smile and make people think, and, hopefully, bring us all a little closer together.”

The former first lady added: “We’re thrilled to have the opportunity to amplify voices that are too often ignored or silenced altogether, and through Spotify, we can share those stories with the world. Our hope is that through compelling, inspirational storytelling, Higher Ground Audio will not only produce engaging podcasts, but help people connect emotionally and open up their minds—and their hearts.”

Speaking on behalf of the company, Spotify’s chief content officer, Dawn Ostroff, said: “President Barack Obama and Michelle Obama are two of the world’s most important voices and it is a privilege to be working with them to identify and share stories that will inspire our global audience, which looks to Spotify for unique, breakthrough content. Connecting people with original and thoughtful creators — especially those with the ability to highlight underrepresented and indispensable narratives — is at the core of our mission and we are thrilled that not only will the Obamas be producing content, but that they will be lending their voices to this effort.”

Disclosure

Dominion holds Spotify in its Global Trends Luxury Fund.


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