Spotify Technology (NYSE: SPOT) signed a highly sought after sponsorship with Riot Game’s League of Legends.” Spotify is going to be the premium audio service provider for almost all LOL content.

Whatever you Need To Know: According to Variety, Spotify signed its very first worldwide paid sponsorship price to access the huge fan base of “League of Legends.” The multi-year sponsorship will club seriously on content on around the League of Legends World Championship in Shanghai, China (Sept. 25 to Oct. thirty one).

A nine part podcast referred to as Untold Stories: Top Moments From Worlds will be featured on Spotify along with playlists as well as a peek at the brand new world anthem for the championship.

Precisely why It’s Important: Last year’s League of Legends World Championship had 21.8 million common viewers. Spotify will get banner placing in the course of LOL broadcasts. On Spotify, LOL’s tracks are listened to 5 million times a month.

Spotify has been concentrating on growing the podcast organization of its. The business has 299 million monthly active users and 138 million premium subscribers. In the next quarter, 21 % of MAUs listened to podcasts.

What is Next: Spotify will launch The Joe Rogan Experience podcast as a platform exclusive in September. The business enterprise is actually forecasting having to deal with 328 million to 348 million MAUs by the end of the fiscal year.