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These companies play two distinct roles in the sector. Gimlet is one of the world's best content creators, with unique and well-known podcast shows like Back home, which has recently been adapted to become a critically acclaimed show on Amazon Prime, and the internet culture has hit Reply to all. And Anchor has completely redesigned the path of audio creation, enabling the creation of the next generation of podcasters around the world – 15 billion hours of content on the platform during the fourth quarter. These companies are the best in their clbad and we will offer together differentiated and original content. Gimlet and Anchor will position us to become the leading platform for podcast creators around the world and the premier producer of podcasts.
According to Ek, this purchase is motivated by the fact that the music and audio industry, currently estimated at $ 100 billion, is as important as that of video, with a market capitalization of $ 1 trillion. dollars. In order to take advantage of the growth anticipated by Ek for the audio industry in the future, Spotify will double its podcast content. As Ek explains:
This opportunity begins with the next growth phase of audio podcasting. There are countless ways to tell stories that serve to entertain, educate, challenge, inspire or gather to eliminate cultural barriers. The format is really evolving and although podcasting is still a relatively small activity, I see incredible growth potential for space and for Spotify in particular. . .
Based on data from the radio industry, we think it's reasonable to badume that more than 20% of Spotify plays will be non-music content. That means a much faster growth potential with more original programming – and differentiating Spotify by playing on what makes us unique – all with the goal of becoming the world's first audio platform.
That does not mean that music will still not be Spotify's core business, says Ek. But he wants the company to be ready because the audio industry is expected to experience significant growth in non-musical content in the coming years. "In our industry, things are changing rapidly, but the way forward for Spotify is clear – we want to become the world's leading audio platform and today is an important step in this direction," said Ek.
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