The 2024 US presidential election is already shaping up to be a media frenzy, and one company poised to capitalize on the heightened attention is Spotify. The music streaming platform could be a major beneficiary of the election cycle, particularly if it can secure high-profile interviews with both President Donald Trump and Vice President Kamala Harris on its popular podcast, “The Joe Rogan Experience.”
Both Trump and Harris are rumored to be considering appearances on Rogan’s podcast, which is one of the most listened-to podcasts in the US and a key driver of Spotify’s subscriber growth. Trump has confirmed his appearance on the podcast, while Harris is reportedly considering it as she continues her media blitz across various platforms to connect with different voter demographics.
If successful, these interviews could be game-changers for Spotify. The podcast’s massive audience, combined with the political weight of the potential guests, could lead to a significant surge in subscriptions, targeted advertising dollars, and potential premium bundle offers.
The potential for success is evident. Trump has historically attracted large viewership figures for his media appearances, while Harris’ recent interview on “The View” contributed to its best ratings in over three years. The strong viewership numbers indicate the high interest in both candidates, suggesting a similar effect could be seen on Rogan’s podcast.
While the potential benefits of these interviews are substantial, Spotify’s growth prospects extend beyond just political figures. KeyBanc Capital Markets analyst Justin Patterson maintains an Overweight rating on Spotify, raising the price target from $440 to $490. Patterson notes that Spotify is finding a good balance between growth and profitability, and sees the company exceeding its own projected subscriber additions. The analyst also predicts the company could soon launch a high-end plan, further boosting its revenue and profitability.
Spotify’s third-quarter financial results are set to be released on November 12, just a week after the 2024 election. This makes the timing of the potential interviews particularly relevant, as they could significantly impact the company’s earnings report and investor outlook.
Overall, Spotify is in a strong position to capitalize on the 2024 election cycle. The company’s popular podcast, combined with the potential to secure interviews with key political figures, could drive significant subscriber growth, advertising revenue, and increased profitability. While the success of these interviews is yet to be confirmed, the potential rewards for Spotify are certainly worth watching.