Spotify acquires podcast companies Gimlet and Anchor

Friday 15 February 2019 13:10 CET | News

Spotify has acquired two podcast companies and plans to spend up to USD 500 million on further acquisitions.

The Sweden-based company has acquired Gimlet, the company behind a string of popular podcasts including Homecoming, which was adapted into an Amazon TV series.

Spotify has also acquired Anchor, a platform that allows individuals and companies to create, publish and monetise podcasts. No price was disclosed for either deal.

Spotify is one of the global leaders in music streaming, but it is a low-margin business, with the majority of revenues paid out in royalties to music companies. The company declared it would not seek to raise the prices of its monthly packages as it added podcasting content to its service.

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Keywords: Spotify, Gimlet, Anchor, acquisition, podcast, music streaming
Countries: World