Spotify's podcasting plays

Spotify's podcasting plays

spotify podcasting.png

Spotify is deep diving with podcasts. The music streamer is not only acquiring US podcast studio Gimlet Media, but also podcast publishing platform Anchor.

Gimlet had a big hit with podcast Reply All, while its Homecoming content has been adapted into a video series on Amazon Prime. Spotify and Anchor are already friends – since last year Anchor podcasters have been able distribute their output directly through Spotify.

“The goal is not with Gimlet nor with Anchor to make any of their existing content exclusive, but to focus on the content that we’re developing at Spotify and make more exclusive deals going forward,” say Spotify CEO Daniel Ek.

 "These acquisitions will meaningfully accelerate our path to becoming the world’s leading audio platform.”

He reckons the podcast format is evolving at a clip, and while podcasting is currently small business tday – especially in revenue terms – he sees “incredible growth potential”.

Spotify has become the world’s second-biggest podcasting platform just two years after launching in the segment. And its podcast users do spend more time listening to music, the company reports.

Spotify closed 2018 with 96m paying music subscribers, up by 25m year-on-year. The company is adding new subs at a rate of 3m per month.

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