Spotify bets big on podcasts with acquisition of Gimlet and Anchor

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Music-streaming king Spotify sees a future in podcasts.

The company announced on Wednesday that it has made two huge acquisitions that firmly plant Spotify in the podcasting business. The music-streaming giant has bought Gimlet Media Inc., a popular podcast producer, and Anchor, a platform that helps creators produce and publish their podcasts.

According to Recode, Spotify is paying around $230 million for Gimlet. Recode first reported that Spotify and Gimlet were in talks last week. It’s currently unknown how much Spotify spent on Anchor.

Recode points out that the acquisition puts Spotify in the content creation business for the first time — something the company hasn’t done in its almost 11 years in the music industry.  Read more...

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