Music streaming service Spotify is in “advanced” talks to acquire startup podcast network Gimlet Media, reports Recode. If a deal is approved, it would give the streaming service a boost as it diversifies its offerings beyond music.
According to Recode, Spotify is offering to pay more than $ 200 million for the company. Gimlet Media, which was founded by Alex Blumberg (a former producer of This american life) and Matthew Lieber in 2014, has been one of the dominant figures in the growing podcasting market. Produces a wide range of shows, from the business series. Start up, to series of true crimes Crimetown, to narrative dramas like Homecoming, SandraY The horror of Dolores Roach. Recently, Gimlet has expanded its attention from podcasting to film and television, as seen in its recent deal with Amazon to convert Homecoming in a series.
As the world of podcasting began to explode, Spotify became increasingly interested in trying their luck in the market. Hot podNick Quah noted earlier this year that the streaming service has been working to develop its strategy around podcasting, noting that the company has made the market a priority for the coming year. Quah noted that Spotify would likely benefit from creating its own content, as users who would flock to the platform will likely stick with its other offerings, and it would benefit from advertisements it could run on podcasts. Spotify has already reached agreements to present some original shows, such as Amy Schumer’s 3 girls, 1 keith, and is airing some shows, like the next season of Crimetown, exclusively on its platform.
Acquiring a dedicated studio like Gimlet would allow Spotify to continue to develop its own lines of original content and intellectual property, benefiting not only from additional users and advertising revenue, but also from the tracking effect of anything else it can become. IP. by the way. Also, you could keep your users blocked on your own platform, instead of having them listen to podcasts on other platforms, such as Apple Podcasts or Stitcher.