Spotify agrees to buy two podcasting companies

Music streaming service Spotify has entered into agreements to acquire podcast content producer Gimlet Media and podcast creator/publisher Anchor for an undisclosed sum.

Gimlet was founded in 2014 and is behind series such as StartUp, Reply All, Homecoming, Mogul and more. Gimlet Creative, the company’s in-house advertising agency, produces official podcasts for brands like eBay, Tinder, Gatorade and Mastercard. Gimlet Pictures, the company’s film and television development and production arm, was created in 2018 and focuses on bringing Gimlet franchises to the small and big screens. Based in Brooklyn, New York, Gimlet podcasts are listened to in nearly 190 countries worldwide.

Anchor has a smartphone app which allows anyone to easily create and distribute a podcast. It has creative tools, unlimited free content hosting, plus distribution everywhere podcasts are heard. The company was founded in 2015 in New York City.

“These acquisitions will meaningfully accelerate our path to becoming the world’s leading audio platform, give users around the world access to the best podcast content, and improve the quality of our listening experience as well as enhance the Spotify brand,” said Daniel Ek, Spotify co-founder and CEO. “We are proud to welcome Gimlet and Anchor to the Spotify team, and we look forward to what we will accomplish together.”

“Spotify is poised to become the largest audio platform in the world and we are excited for Gimlet’s award-winning podcasts to connect with new audiences around the world,” said Alex Blumberg and Matt Lieber, co-founders of Gimlet Media. “The medium of audio is uniquely great at creating human connection and understanding. We are thrilled that Gimlet is joining Spotify to do that at a global scale, on the platform and beyond.”

“We are incredibly excited to introduce Anchor’s industry-best podcasting tools to Spotify’s massive user base as we continue our journey, now with even greater resources,” said Michael Mignano, CEO of Anchor. “We look forward to continuing to empower creators all over the world to build an audience, generate revenue, and most importantly, have their voices heard.”

The transactions are expected to close in the first quarter of 2019 and subject to customary closing conditions.

Spotify is already boosting its library of podcasts by inviting submissions on its website.

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