Music streaming service Spotify has entered into definitive agreements to acquire renowned podcast creator Gimlet Media and Anchor, a provider of podcasting-related tools that include podcast creation, publishing, and monetization services.
Spotify did not disclose terms of the acquisition. The transactions are expected to close in the first quarter of 2019 and are subject to customary closing conditions.
With the acquisitions, Spotify has positioned itself to become “the premier producer of podcasts and the leading platform for podcast creators”, the company said in a statement.
Under terms of the deal, Gimlet will offer Spotify its podcast studio with dedicated IP development, production and advertising capabilities. Anchor, meanwhile, will bring its platform of tools for podcast creators and its established and growing creator base.
“These acquisitions will meaningfully accelerate our path to becoming the world’s leading audio platform, give users around the world access to the best podcast content, and improve the quality of our listening experience as well as enhance the Spotify brand,” said Daniel Ek (pictured), Spotify co-founder and CEO, in a statement.
Founded by Alex Blumberg and Matthew Lieber in 2014, the New York-based Gimlet is known for its slate of podcasts that includes StartUp, Reply All, Crimetown and The Pitch, among others. Blumberg and Lieber serve as the company’s CEO and president, respectively.
New York’s Anchor was founded in 2015 and enables and empowers creators to create, distribute and monetize their podcasts while expanding audio as a creative medium. The company provides easy-to-use creative tools, unlimited free content hosting, distribution and monetization options built for audio beginners and pros.