Spotify, the online music streaming platform, has announced that it has bought two podcast networks - Gimlet and Anchor - in undisclosed deals.
The company has also stated that it plans to spend a further $400-$500 million on multiple acquisitions in 2019 to enable it to expand within the podcast sector.
The firm believes that by increasing its podcast offering it is not only drawing in more customers who want to listen to podcasts, but who also go on to listen to music on the platform, thereby boosting the amount of time people spend on Spotify.