Spotify acquires Gimlet Media and Anchor in major podcasting push

By Laura Mullan
Spotify Inc. has pushed further into the podcasting market by acquiring Gimlet Media and Anchor. The audio streaming service said that the acquisitions...

Spotify Inc. has pushed further into the podcasting market by acquiring Gimlet Media and Anchor.

The audio streaming service said that the acquisitions will allow it to become “both the premier producer of podcasts and the leading platform for podcast creators”.

Gimlet Media is a New-York startup podcast network with around $28.5mn in funding.

It creates podcasting shows such as Homecoming, Reply All and Startup and so the deal could go some way toward helping Spotify move into more original audio content.

Anchor provides creators with tools to build, publish and monetise podcasts and it has raised around $15mn in funding.

The financial figures of the acquisition were not disclosed.

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Spotify co-founder and CEO, Daniel Ek, said: “These acquisitions will 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.”

In a blog post, Ek added that in just under two years, Spotify has become the second-biggest podcasting platform.

“Based on radio industry data, we believe it is a safe assumption that, over time, more than 20% of all Spotify listening will be non-music content,” he wrote.

“This means the potential to grow much faster with more original programming — and to differentiate Spotify by playing to what makes us unique — all with the goal of becoming the world’s number one audio platform.”

In its fourth-quarter results, the Swedish firm affirmed that it wants to acquire more podcasting companies and is willing to spend around $500mn this year to grow its podcasting business.

Spotify also revealed that it had 207mn monthly active users in its most recent quarter, alongside 96mn paid subscribers.

 

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