Spotify continues its podcasts push with two new acquisitions
Spotify is one of the most popular music streaming services on the planet, but it also wants to be the most popular podcast service. The company has been building new features and purchasing exclusive distribution rights over the past few years, and now Spotify is buying two more companies to help it achieve podcast dominance.
Spotify announced on Wednesday that it is acquiring Podsights and Chartable, which are advertising and analytics platforms for podcasters. The company said in a blog post, “Podsights is a leading podcast advertising measurement service that helps advertisers better measure and scale their podcast advertising. Chartable is a podcast analytics platform that enables publishers to know and grow their podcast audiences through promotional attribution and audience insight tools.”
Spotify didn’t mention how much it’s paying for both companies, but it has already poured billions of dollars into podcasts in the past few years. The company paid $340 million for Gimlet Media (a podcast network) and Anchor (a podcast publishing platform) in 2019, and podcast tech company Whooshkaa was acquired at the end of 2021. Some of Spotify’s purchases have been controversial, such as its $100 million exclusivity deal with The Joe Rogan Experience, which regularly serves as a megaphone for far-right figures like Alex Jones and Milo Yiannopoulos. Spotify has also pulled over 100 episodes of the show so far.
Spotify has rolled many podcast-related features recently, some based on technology it acquired from the companies it purchased. Podcast subscriptions started rolling out worldwide in November, which allows podcasts to have an optional paid tier with extra bonuses, such as exclusive (or timed exclusive) episodes. In December, Spotify introduced a star rating system for podcasts, similar to what Apple Podcasts and other platforms have offered for a while. The company also started testing banner ads for podcasts with existing audio ads in January.