Spotify In Talks To Buy Gimlet Media

Although Spotify has acquired many businesses recently, this acquisition represents the first acquisition involving a content creation platform.

But it would also be a huge deal as far as podcasts go, with another example being iHeartMedia's acquisition of Stuff Media previous year in a notably smaller $76 million deal.

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Spotify declined to comment on the report. As of late, Gimlet has stretched out its consideration from podcasting to film and TV, as witnessed by its ongoing deal with Amazon to turn Homecoming into a series.

The reported deal does seem to track with Spotify's long-term goals. SPOTIFY has been active in producing original podcasts and indicated in appearances at CES last month that it plans to expand its activity in that regard. "We found podcasting to be a great complement to our music service". Spotify has officially struck deals to acquire some original shows, for example, Amy Schumer's 3 Girls, 1 Keith, and is streaming a few shows, similar to the upcoming season of Crimetown, exclusively on its platform. Acquiring Gimlet would be the first time Spotify has bought a content company; furthermore, it would be the biggest podcast deal in the industry, passing Apple which has been a majority holder of podcasts. Kafka also noted that while Apple now reigns supreme in this area, "Tim Cook's company doesn't appear to spend much time or energy on podcasts". Gimlet is behind hit series like StartUp, Reply All andHomecoming.

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