Spotify is apparently in talks to buy podcast giants Gimlet media
Spotify is reportedly in talks to buy podcast company Gimlet Media, which will provide the music streaming service with a new avenue of income.
Originally reported by Recode, Spotify is said to be offering over $230 million for Gimlet Media, who are responsible for Reply All, StartUp, and the original podcast behind Amazon Prime's Homecoming series with Julia Roberts.
Spotify currently has over 200 million users globally, and, as New York Times report, shifting their focus to podcasts means that Spotify has less pressure from major record companies and their negotiations with licenses. The NY Times also reveals that approximately 75% of the company’s revenue is currently made from music streaming.
Gimlet Media and Spotify have worked together before, negotiating an arrangement around Crimetown season two and hip hop mini-series Mogul.
The acquisition would put Spotify up against leading podcast providers Apple, and allow Spotify to focus on creating original content for their service. Already Spotify provides a number of original podcasts, including their Dissect show, Amy Schumer's 3 Girls, 1 Keith, and more.
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