- Sources spotify podcasts subscriptionssteele streetjournal plus#
- Sources spotify podcasts subscriptionssteele streetjournal free#
In fits and starts, it has attempted to carve out a proper podcast presence within its platform over the past few years. January 15, 2019Spotify, in case you need reminding, has been getting up in podcasting’s business quite a bit for a while now. It’s (a) responsible for shows like StartUp, Reply All, and Homecoming, and (b) has become the somewhat polarizing venture-backed poster child for the current wave of podcast industrialization. Gimlet Media presumably doesn’t need any introduction here, but just in case: It’s the Brooklyn-based podcast company founded in 2014 by former This American Life staffer and Planet Money co-founder Alex Blumberg and former WNYC producer/BCG consultant Matt Lieber. You know what? Just check out the Crunchbase listing.)Īlso worth noting: This is Spotify’s first acquisition of a content company. As Kafka points out, the company last raised money in 2017 on a $70 million valuation. (Oh, and if you’re keeping track: The venture-backed Gimlet Media has raised around $28.5 million in funding to date, from a pool of investors that includes WPP, Betaworks, Emerson Collective, and Panoply parent Graham Holdings. Which is to say: If this deal closes, Spotify’s ingestion of Gimlet would be the biggest acquisition in the podcast industry to date. But more appropriately, we’d have to talk about iHeartMedia acquiring Stuff Media for $55 million, which comps better because that’s a platform-ish company acquiring a straight-up content company, which is what we’re seeing with this Spotify–Gimlet situation.
Sources spotify podcasts subscriptionssteele streetjournal plus#
If you’re looking for a yardstick, we can probably talk about Scripps’ 2015 acquisition of Midroll Media (since rebranded as Stitcher) for $50 million, plus another $10 million based on milestone achievements. I can add to that with a confirmation: A source familiar with the matter tells me that the specific price is $230 million.īut the Journal’s story has a crucial detail you shouldn’t miss: “Talks are still ongoing and it is still possible that a deal won’t happen, the people said.” Recode’s Peter Kafka had the story out first (barely), and he has the potential price on the deal: “A person familiar with the proposed deal says Spotify will pay more than $200 million in cash for the company.” Both articles cite sources familiar with the matter, and it’s worth noting that the situation remains somewhat fluid. Recode’s Peter Kafka and The Wall Street Journal’s Ben Mullin and Anne Steele both fired out the story Friday evening that Spotify, the Swedish music streaming company, is apparently in “advanced talks” to acquire Gimlet Media. Spotify has reportedly sent out invites for a May 20th press event.If I had a podcast, this is when I’d drop an emergency pod, because this is Kristaps Porzingis-level. The news comes around the same time as reports that YouTube might be making a moving towards offering subscription services for ad-free video streaming and as Apple is expected to unveil its Beats Music relaunch. Spotify claims to have 15 million subscribers and 60 million active users, and according to The Wall Street Journal is seeking to raise more than US$400 million from investors in a round of funding that would value the company at more than US$8.4 billion. The move would see Spotify occupy a whole new turf in the streaming world, but the proposed service is unlikely to include any video content by Taylor Swift.Īs The Verge point out, Spotify’s rival music service Tidal already includes access to music videos as part of its subscription service – but Jay Z’s streaming platform has a whole bunch of other problems right now.
Sources spotify podcasts subscriptionssteele streetjournal free#
It is believed a Spotify video service would mirror its music service by offering both free and paid subscription tiers.
The company is said to be discussing both the acquisition of existing video content as well as the production of original videos.
As reported by The Wall Street Journal, Spotify has reportedly been in talks with a number of YouTube affiliated media companies, as well as television networks, online video producers and magazine publishers, about bringing short videos to the streaming platform as soon as this month.
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