16% of Spotify listeners consume podcasts.
In a recent announcement, Spotify announced it acquisition of The Ringer, a media company (best known for its culture website and The Bill Simmons Podcast). The Ringer’s acquisition will expand Spotify’s exclusive content catalogue and help it achieve its larger revenue goals.
The podcast platform now owns programs across sports, horror and crime genres, and prestige series along with celebrity-focused Spotify Originals. Further, Spotify aims to grow its network both within and outside the app.
The piece highlights that Spotify serves podcast ads within its shows regardless of whether a listener is premium or not. This piece states that Spotify’s ad business could involve selling ads for any show, whether or not they are exclusive.
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