Chernin Entertainment, led by chairman Peter Chernin and president Jenno Topping, has penned a multi-year partnership with Swedish music streaming and media services provider Spotify to adapt podcast content for television, film and digital video.
Under the agreement, the two entertainment companies will equally collaborate on developing new film and TV projects from Spotify’s library of 250 original series across the Spotify Studios, Gimlet Media, Parcast and The Ringer brands.
Specific terms of the deal and its length were not disclosed.
The relationship with Chernin will allow Spotify to accelerate its existing foothold in the film and TV worlds. The audio company currently has “nearly a dozen projects” in development or production, including scripted projects such as HBO Max’s The Two Princes and Amazon Prime Video’s The Horror of Dolores Roach.
The two companies are also currently working with podcast producers Pineapple Street Media to adapt the true crime podcast series The Clearing for television.
“Audio is by far the fastest-growing medium in the entertainment business, and with over 250 originals and thousands of hours of content, Spotify has one of the largest libraries of unattached IP that exists in the world today and that library is being added to daily,” said Peter Chernin in a statement. “This treasure trove of content plus the acceleration of new voices and stories provides an enormous opportunity to transform these addictive stories and IP into content for the screen.”
“At Spotify, we believe that the extraordinary growth of audio will continue to attract the world’s great creators and make podcasts a premier destination for original IP,” added Dawn Ostroff, Spotify’s chief content and advertising business officer.