Spotify has acquired two podcasting companies, Gimlet and Anchor, in a move to expand and become the leading global podcast publisher. Gimlet is home to podcast shows like “Homecoming,” which was recently adapted into a critically acclaimed show on Amazon Prime, and the internet culture hit “Reply All.” Anchor had 15 billion hours of content on the platform during the fourth quarter of 2018.
Based on radio listening data, over time more than 20 percent of all Spotify listening will be non-music content.
“There are endless ways to tell stories that serve to entertain, to educate, to challenge, to inspire, or to bring us together and break down cultural barriers,” said Spotify Founder/CEO Daniel Ek. “The podcast format is really evolving and while podcasting is still a relatively small business today, I see incredible growth potential for the space and for Spotify in particular. In just shy of two years, we have become the second-biggest podcasting platform. And, more importantly, users love having podcasts as a part of their Spotify experience. Our podcast users spend almost twice the time on the platform, and spend even more time listening to music. We have also seen that by having unique programming, people who previously thought Spotify was not right for them will give it a try.
“Just as we’ve done with music, our work in podcasting will focus intensively on the curation and customization that users have come to expect from Spotify. We will offer better discovery, data, and monetization to creators. These acquisitions will meaningfully accelerate our path to becoming the world’s leading audio platform, give users around the world access to the best podcast content, and improve the quality of our listening experience while enhancing the Spotify brand.”
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