It's Wednesday, July 22nd.

Welcome to Market Foolery.

I'm Chris Hill.

With me today, Abby Mallon.

Good to see you.

Thanks for having me.

So we've got the latest reports from IRobot and Snap, but we're

going to begin with Spotify's latest partnership.

And it's not a podcast, which has been sort of the trend for a while with Spotify when they come out with

material news.

But today it's the fact that Spotify has a new long-term licensing deal with Universal Music Group.

Help me understand this. It seems like Spotify is going to provide not just marketing, but also data and analytics from their

platforms so that they can give universal music group a sense of who is

listening to what? Exactly. So I actually when we talked this morning and chose topics I chose

this topic because I just yesterday actually we were having sort of an investor

roundtable about Spotify and am, well I think that the platform is great.

I kind of have a couple questions particularly around the valuation that they're demanding

right now.

It's at almost a 55 billion dollar company and I just

for a little bit of backstory or history on that

for music labels actually own about 90% of the market and so

historically what we've seen is that pricing power is solidly in the hands of the labels

...