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Spotify apparently in “advanced stages” of securing podcast organization for $230M

Multiple outlets, citing unnamed sources, wrote about Friday that Spotify is in the “advanced stages” of gaining a leading podcast production organization. The rumored deal is no slouch: $230 million to secure Gimlet Media, the organization in charge of exceedingly trafficked podcasts, for example, Reply All, Science Vs., and StartUp.

Recode and the Wall Street Journal each detailed a Gimlet bid from Spotify in the area of “over $200 million.” That number was later clarified by Hot Pod newsletter author Nick Quah to be nearer to $230 million. Every one of the three reports bring up that the deal has not been finished.

The reports incorporate an update that Gimlet’s last public valuation, in view of investment subsidizing, drifted some place around $70 million in August 2017. Spotify has previously gained littler music-and streaming related organizations, including the music-rights information firm Loudr.fm and the virtual studio service Soundtrap., however neither one of the acquisitions’ expense has been publicly reported (nor have both of those been rumored to be anyplace close $230 million). All the more significantly, those acquisitions have revolved around stages and innovations, not possibly exclusive series and content.

Gimlet’s public cache has been on the ascent on account of one specific 2018 development: the adjustment of Gimlet’s fictional, radio-dramatization podcast Homecoming as a TV series. This series, which got a two-season arrange, appeared as an Amazon Video exclusive in November of a year ago, is delivered and coordinated by Mr Robot maker Sam Esmail, and stars Julia Roberts.

Such an acquisition would see Spotify reinforce its exclusive podcast library, which presently comprises of music-related talk shows, for example, Ebb and Flow and The Joe Budden Show. None of the reports affirm whether an acquisition would secure any of Gimlet’s past or present series as Spotify exclusives.

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