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Spotify stock jumps on podcast revenue details

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Yahoo Finance Live's Seana Smith checks out Spotify's boosted stock ahead of the closing bell.

Video Transcript

[MUSIC PLAYING]

SEANA SMITH: Taking a look at shares of Spotify jumping after the company revealed revenue for its podcast business last year too the tune of $215 million. Not at the company's investor day, Spotify's chief content officer Dawn Ostroff is saying podcasts are a $20 billion opportunity and she went on to say that the company is still in investment mode after already spending a billion on podcasts. You can see the share reaction today, stock up just about 6% here in the final minutes of trading.