Spotify is now looking like branching out of the streaming music business. It’s getting ready to start a new chapter in Podcasting. The company has planned to pay around $200M for buying Gimlet Media. Gimlet Media is a startup that has made the popular shows like the Reply All. The talks between Gimlet Media and Spotify are in advance stage. Gimlet Media is a Brooklyn based company that produces a series of popular shows as well as they make the shows for the advertisers such as Gatorade. Gimlet is also in TV production now, which includes a deal which turned Homecoming, which in its beginning used to be a scripted Podcast, and now it’s up with an Amazon TV show which stars Julia Roberts. This is awesome news for mobile application development companies in Denver who might come up with a similar one soon.
Spotify, which has been trying to branch out of the streaming music business, is getting ready to make its first big move into podcasting: It plans to pay more than $200 million to buy Gimlet Media, the startup behind popular shows like Reply All. It’s big news for mobile application development Denver companies.
Sources say Spotify is in advanced talks to acquire Gimlet, the Brooklyn-based company which produces a network of popular shows and makes shows for advertisers like Gatorade. Gimlet has also been moving into TV production, including a deal that turned Homecoming, which started out as a scripted podcast, into an Amazon TV show starring Julia Roberts.
It will be the first time when the Spotify will be buying a content company- and this happens to be among the biggest acquisitions in the evolving podcasting industry. They are up with a funding of $70 million. A person familiar about the deal said that Spotify will be paying more than $200M in Cash. Mobile application development companies in Denver CO must be eyeing it.
Spotify has already started the podcast business, and hence promoted podcasts to its vast users, which are around 200M. They have done one-off deal with Amy Schumez.
Their 200 million users are already consuming audio service. The music business is being ruled by three largest companies, who have real leverage when we talk of licensing the content. The Podcasting business has definitely just begun, and no one has an upper hand in this business still. However, one should consider individuals like Ted Cruz definitely. However, Apple still is the leading podcast distributer. However, Tim Cook is not looking to invest more money or energy on Podcasts. However, the business is growing rapidly, and this makes it an attractive platform, for the publishers who are willing in making the most out of revenue streams.
Spotify has been up with many acquisitions, however, it has never acquired any company, which makes or distributes the content. This is because, they are unlikely to have the resources for buying the major label in music industry, and you should know that by buying a smaller label, they will enrage the big labels, who are worried that Spotify might become a competitor to them.