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Spotify Eyes Podcast Company

Olivia Long - February 4, 2019 - 04:44 AM
Spotify Eyes Podcast Company
Spotify is reportedly looking to buy Gimlet Media, effectively expanding its services to podcasts and content creation.

(CCM) — Spotify is reportedly in talks to acquire Gimlet Media, podcast pioneer, for over $200 million, according to Recode. Gimlet Media has made a name for itself as the platform for popular podcasts such as Reply All. It has also moved into TV and film recently with Homecoming, which started as a scripted podcast and transformed into a show produced by Amazon TV.

This move would allow it to enter the podcast and content creation businesses and is in line with Spotify's recent plans to expand outside of simple streaming. Although Spotify has acquired many businesses recently, this acquisition represents the first acquisition involving a content creation platform.

Spotify has showed interest specifically in the podcasting industry of late. It has begun promoting podcasts to its users and has made one-off deals for exclusive podcasts with celebrities.

Today, podcasts represent a niche business model, representing just $315 million in ads in 2017. However, Spotify's expansive platform could be the catalyst to its explosion.

Image: © Gil C. - Shutterstock.com
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