The music streaming large has already bought podcast firms Gimlet and Parcast.
Spotify is in early talks to accumulate Invoice Simmons‘ media startup The Ringer, sources inform The Hollywood Reporter.
The deal could be the most recent in a succession of purchases by Spotify to bulk up its podcasting enterprise. Along with an internet site that covers sports activities and popular culture, The Ringer has a thriving podcast arm with greater than 30 exhibits, together with flagship The Invoice Simmons Podcast, Binge Mode and The Watch.
A Spotify spokesman declined to remark. A spokesman for Simmons didn’t reply to a request for remark.
Simmons began The Ringer in 2016 after he left ESPN — and his Grantland website — following a dispute with the sports activities community’s then-president John Skipper over feedback about NFL commissioner Roger Goodell. The corporate has a minority funding from WarnerMedia’s HBO, the place Simmons additionally has a first-look deal for unscripted tasks like doc Andre the Large.
Podcasts have develop into a bit piece of The Ringer’s enterprise. In 2018, The Wall Avenue Journal, which first reported on the talks with Spotify, reported that the corporate had 100 million month-to-month downloads and podcast advert gross sales more likely to exceed $15 million in 2018.
The Ringer has been in enterprise with Spotify since September, when the corporate agreed to make each day shortform sequence The Ringer’s Hottest Take solely for the service. The sequence joins a Ringer podcast slate that features The Dave Chang Present, The Highway Taken with CT and Baio and Larry Wilmore: Black on the Air.
If a deal involves move, The Ringer would mark Spotify’s fourth podcast acquisition within the final 12 months, one that will give it a foothold within the sports activities and popular culture area. The music streaming large spent practically $400 million to buy Gimlet Media, Parcast and Anchor to bolster its podcast enterprise and reorient as an audio-first enterprise. The strikes have paid off. Spotify, which has 248 million month-to-month energetic customers, reported in September that the period of time individuals spent streaming podcasts grew by 39% throughout its final quarter. And the variety of podcast listeners who transformed from free Spotify to the paid Spotify Premium was deemed “nearly too good to be true.”
This text was initially revealed by The Hollywood Reporter.