Spotify has moved into the podcasting market after buying Gimlet Media and Anchor, saying it would spend up to $500m on more podcast deals during 2019. Analysts said Spotify wanted to be audio ’s answer to Netflix and move ahead of rivals including Apple Music and Tidal, while also increasing its earnings from advertisers. The company is expected to announce a new streaming service in 2019 that will include original shows as well as live events. Surveys have suggested 20% of 20-34-year-olds in the US, UK, Canada and Australia listen to podcasts.
Spotify has moved into the podcasting market after buying Gimlet Media and Anchor, saying it would spend up to $500m on more podcast deals during 2019. Analysts said Spotify wanted to be audio’s answer to Netflix and move ahead of rivals including Apple Music and Tidal, while also increasing its earnings from advertisers. Gimlet would provide Spotify with a podcast studio, while Anchor could provide content creators. Surveys have suggested 20% of 20-34-year-olds in the US, UK, Canada and Australia listen to podcasts.