In early 2015, Spotify added support for podcasts to its platform in an effort to grow its offerings for consumers beyond music. Since then, the music streaming provider has never stopped expanding its podcast service. Last October, the company launched a beta version of Spotify for Podcasters designed to let everyone add their shows to the platform’s podcast section.
Now, Spotify users might be in for more podcast shows as the music streaming service is reported to be in an advanced stage of discussion over a potential bid to acquire Gimlet Media, a digital media company and podcast network that’s behind popular shows like Homecoming, Reply All, and The Cut. Financial terms of the supposed deal are pegged in the ballpark of $200 million, though that remains unconfirmed.
If the rumored acquisition materializes, it will mark a major step in Spotify’s ambition to bolster its stake in the podcasting industry. Gimlet, in particular, is no stranger to the Swedish company as it is one of the many content providers that partnered with Spotify when the music streaming giant launched Spotlight over a year ago. Spotlight is a multimedia format meant to combine podcasts and other audio content with photos and videos.