Yesterday, Spotify announced the acquisition of not one, but two podcasting companies in a $500MM deal.
Brooklyn based Gimlet Media has already consolidated itself as a media giant with shows like Crimetown and Reply All and Anchor is a startup focused on helping people record and distribute their own podcasts.
It seems like the strategy here is to cover the entire podcast journey, from large to small scale productions all the way to distribution. Who knows what the next hit podcast will be, and when it does, if it’s Spotify exclusive, it has the potential to increase their user base significantly.
However, Spotify CFO Barry McCarthy is quoted saying “I think the majority of the podcasts will not be exclusive to the platform.” So, at least for now, they claim podcast will remain available on other channels.
It may also signify Spotify’s entrance to video streaming services since Gimlet Media had recently began video productions as well; such as “Homecoming”, initially a scripted podcast into a show for Amazon Prime starring Julia Roberts.
We’re anxious to see what Spotify will become in the near/mid-term future!
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Mary Drumond is Chief Marketing Officer at tech startup Worthix, and host of the Voices of CX Podcast.
