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Spotify signs an exclusive podcast deal with filmmaker Ava DuVernay
The Oscar-nominated director's Array collective will work with Gimlet Media on a variety of shows.
Spotify's quest to become the king of podcasts
Today, Spotify announced that it was finally making a profit, and it would use its cash to go on a spending spree. The streaming music platform was buying blockbuster podcast studio Gimlet Media as well as creation app Anchor. In doing so, Spotify can now lay claim to every part of the podcast sausage-making process that could have huge ramifications for your ears.
Spotify finally made a profit and spent big on its podcast future
Spotify is making big moves to secure its dominance in the music streaming market. As expected, the company is buying Gimlet Media, a New York-based podcast network that owns a range of popular shows including StartUp, Reply All, Crimetown and The Pitch. It's also acquiring Anchor -- a move we didn't see coming -- to help budding podcast creators record, publish and manage their own shows. Spotify didn't disclose the terms of either deal, but confirmed that both are expected to close this quarter. "These companies are best-in-class and together we will offer differentiated and original content," Spotify CEO Daniel EK said.
Spotify is reportedly in talks for a $200 million podcast purchase
Spotify is reportedly looking to sink big money into podcasts. According to Recode and The Wall Street Journal, the music streaming company is currently in talks to acquire podcasting giant Gimlet Media for over $200 million. If Spotify manages to finalize the acquisition, it will be the first time it has purchased another company. Recode says the negotiation is in the advanced stages, but it's not a done deal yet, and their talks could still fall through.
Spotify gets into podcasting with three music-themed shows
Spotify dipped its toes into podcasting in 2015 by adding pre-existing programs to its lineup. Now it's getting into content creation and rolling out its own shows. The company is launching three original podcasts, and it says that's just the start.
