Culture&Arts

Spotify Significantly Expanded Its Podcasting Efforts With The Purchase Of Gimlet

Spotify Significantly Expanded Its Podcasting Efforts With The Purchase Of Gimlet

The podcast firms probably won't be Spotify's only acquisitions this year, either - it says it has its sights set on a potential total acquisition spend of $400-$500M in 2019.

Webster said he thought Spotify's acquisition into podcasting also could push more labels to become more open to letting podcasts use licensed music.

Music streaming service Spotify is buying podcast companies Gimlet and Anchor as it looks to take on Apple's popular iTunes' podcasting platform.

The value of the Gimlet purchase was put at $230 million by Recode, a technology website.

When it comes to streaming music, Spotify is the world leader thanks to its almost 100 million monthly paid subscribers.

Transactional details haven't been disclosed, but previous reports suggested that Spotify's spend could be over $200m for Gimlet alone, which would make it the biggest acquisition in the streaming company's history. And Anchor has completely reimagined the path to audio creation, enabling creation for the next generation of podcasters worldwide-15 billion hours of content on the platform during Q4.

More news: Jennifer Lawrence Is Getting Married, Her Rep Confirms!

With Gimlet and Anchor, Spotify is bringing some of the biggest players in podcasts under its banner. Recode first that Spotify and Gimlet were in talks last week. Ek says that he fully expects 20 percent of all Spotify listening to be non-music related content eventually.

In Ek's blog today he stated that "This opportunity starts with the next phase of growth in audio - podcasting". It seems like Spotify may have found an opportunity.

"These acquisitions will meaningfully accelerate our path to becoming the world's leading audio platform, give users around the world access to the best podcast content, and improve the quality of our listening experience as well as enhance the SPOTIFY brand", said SPOTIFY Co-Founder/CEO DANIEL EK.

There are many ways to listen to most podcasts - among them, streaming services, downloads and podcast-specific apps like Castbox and Stitcher for Podcasts. It has a slew of popular shows that focus on everything from entrepreneurship to science, including Startup, Homecoming, and Reply All.

Anchor, also based in NY, is a platform that provides tools for podcasters to monetize and distribute their programs. "We look forward to continuing to empower creators all over the world to build an audience, generate revenue, and most importantly, have their voices heard".

You could review the list of Gimlet Media's podcast shows here to give you a feel for what Spotify will be inheriting and promoting along with Anchor here.