Bloomberg Law
Feb. 6, 2019, 3:52 PM

Spotify Bets Big on Podcasting to Power Battle Against Apple (2)

Lucas Shaw
Lucas Shaw
Bloomberg News

Spotify Technology SA acquired podcasting companies Gimlet Media Inc. and Anchor FM Inc., a declaration that their specialty is the next big area of growth for the world’s largest paid music service.

Spotify didn’t disclose the prices it paid for the companies, though previous reports said it would be paying more than $200 million for Gimlet. That alone would be the biggest acquisition in Spotify’s history.

The Swedish company has been investing in podcasting for a few years now, funding exclusive shows from comedian Amy Schumer and rapper Joe Budden. But the deals for Gimlet, a producer of podcasts, and ...