Spotify bets big on podcasts, snags Gimlet Media, Anchor FM

February 06, 2019

Spotify acquired podcasting companies Gimlet Media and Anchor FM, a declaration that their specialty is the next big area of growth for the world's largest paid music service.

Spotify didn't disclose the prices it paid for the companies, though previous reports said it would be paying more than $200 million for Gimlet. That alone would be the biggest acquisition in Spotify's history.

The Swedish company has been investing in podcasting for a few years now, funding exclusive shows from comedian Amy Schumer and rapper Joe Budden. But the deals for Gimlet, a producer of podcasts, and Anchor, a services company, signal the medium has progressed from a hobby to a key focus for Spotify.

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