Business

Spotify makes its biggest acquisition: the sports website and podcast network The Ringer

Although the details of the deal have not been revealed, the importance of the acquisition is huge

Spotify was the first music streaming to joining Libra's Association
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  • Ringer’s big start is The Bill Simmons Podcast;
  • According to The Verge, the show “could perform for Spotify much in the same way The Daily does for The New York Times”, i.e, to highlight and distribute other Spotify’s content.

Spotify is buying The Ringer, a sports network with more than 36 shows, and most importantly: podcasts. The announcement was made by the company last week, during a conference call with analysts about the 2019’s last quarter results.

Ringer is bigger than Gimlet, the podcast production business bought by Spotify a year ago by $194 million. According to The Verge, “Spotify now owns programs related to sports, horror, and crime, as well as prestige series along with its celebrity-focused Spotify Originals, like comedian Amy Schumer’s show and Joe Budden’s.”

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The acquisition makes perfect sense. In the conference call, the company said that over 16% of its users now listen to podcasts. In the same call, Spotify said that with The Ringer the company will have its own “ESPN“. “We couldn’t be more excited to unlock Spotify’s power of scale and discovery, introduce The Ringer to a new global audience and build the world’s flagship sports audio network,” said the company in a statement.

Ringer’s big start is The Bill Simmons Podcast. According to The Verge, the show “could perform for Spotify much in the same way The Daily does for The New York Times”, i.e, to highlight and distribute other Spotify’s content.