Spotify stock gains after Comcast makes service available to Xfinity customers

10:49 am ET June 23, 2020 (MarketWatch) Print

Shares of Spotify Technology SA (SPOT) are up more than 5% in Tuesday trading after Comcast Corp. (CMCSA) announced that it was making Spotify available for streaming on its Xfinity platform. Xfinity Flex customers will be able to stream Spotify songs using voice commands on their remotes beginning today and option will gradually roll out to all X1 customers "in the coming days." Comcast said in its release that "much streaming on the TV is on the rise," especially now that more people are working from home. Comcast also supports streaming of other music services including those from Amazon.com Inc. (AMZN) and SiriusXM Holdings Inc.'s (SIRI) Pandora. Spotify shares have surged more than 100% over the past three months as Comcast's stock has climbed 14% and as the S&P 500 has gained 40%.

-Emily Bary; 415-439-6400; AskNewswires@dowjones.com

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June 23, 2020 10:49 ET (14:49 GMT)