Spotify Plans To Buy Podcast Producers To Build Original Content

Spotify Plans To Buy Podcast Producers To Build Original Content

Spotify has taken a step forward in designing a series of new contents, which target to acquire the podcast producers from the private sector like Anchor and Gimlet Media. This move is a step ahead in the ladder of climbing the goal of becoming Netflix’s audio version.

Spotify is keeping its hopes high regarding the prospects of the deal and believes the appeal of the platform will be twice as attractive as it is right now. He has confirmed around 20% of the contents will not be related to music, which will be the USP of the revamped version of the platform.

The CEO of the music streaming service, Daniel Ek stated the company has plans to spend around $500 million in the present year. He believes the decision to spend in the creative contents will near it to its video counterpart, Netflix. He has also confirmed the same by stating that the journey of both the companies can be considered the same. He has an objective to expand the business by establishing as the most prominent and leading audio podium across the globe.

Though the deal with Anchor and Gimlet Media has not been disclosed yet, the rumors mention that Gimlet Media may sell for $200 million. In fact, this deal is believed to involve the maximum fund ever acquired in the podcast industry.

Some of the most popular shows of Gimlet Media are Startup, Reply All, Homecoming, and others that deal with the non-fictional as well as fictional niches. Since Netflix has adopted these series into its contents recently, Daniel Ek believes it will spike the popularity of its audio counterpart in the library of podcasts.

On the other hand, Crimetown is an exclusive show that began in October 2018 with Amy Schumer who has charged $1 million.

By George Montgomery

George Montgomery manages the position of editor at Industry News Focus. His vast experience in business analysis and finance gives him a deep and accurate view of market trends. He has a thorough knowledge of the trends and actions of the market, resulting in a stock loaded into your portfolio. George also includes research and decisive interviews with market professionals and organizations.