[ad_1]
Spotify is fully committed to creating a podcast network today. The music distribution giant has acquired Gimlet Media and Anchor to strengthen its podcast credentials as the company seeks to increase its share of the podcast market. Gimlet Media is a startup podcast network and Anchor provides creators with tools to create, publish and monetize podcasts. "In the space of two years, we have become the second podcasting platform," says Daniel Ek, CEO of Spotify. "Our podcast users spend almost twice as much time on the platform and spend even more time listening to music."
Ek thinks that Spotify's bet on podcasts will generate 20% of Spotify listening without any music content. "It 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."
Spotify is now planning more podcast acquisitions in 2019, and the company says it is ready to spend about $ 500 million to develop its podcast business this year. recoding Spotify reports paid about $ 230 million just for Gimlet. Spotify also revealed today that it had 207 million active users per month in the last quarter, alongside 96 million paying subscribers. That's almost double the 50 million Apple Music subscribers CEO Tim Cook revealed at Apple's recent earnings call.
This is an ambitious goal and Spotify has already signed agreements to offer original programs for its service. Amy Schumer's 3 girls, 1 Keith appeared on Spotify, and the service also got the exclusive rights of streaming for the upcoming season Crimetown. The acquisition of Spotify with Gimlet will certainly help lock in more original content on the service, and could attract people to competitors such as Apple Podcasts or Stitcher.
Source link
