Why content, not tech, is king in podcasting
▻https://hackernoon.com/why-content-not-tech-is-king-in-podcasting-d0ce3d177b72?source=rss----3a
A look at Spotify’s recent acquisitions, and the upcoming launch of Luminary2019 has been an unprecedented year for exits in the #podcast industry, driven by one company: Spotify. Spotify paid $340M to acquire content studio Gimlet and hosting platform Anchor in February, and last month purchased true crime content studio Parcast for an estimated $100M. A press release shortly after the first two acquisitions announced Spotify had “line-of-sight on total spend of $400-$500M in multiple acquisitions” for 2019, with planned further spend if the strategy paid off.This acquisition activity is especially notable in a space with few prior exits — iHeartMedia’s acquisition of Stuff Media (creators of How Stuff Works) for $55M was the largest previous exit. Podcasts also generate surprisingly little (...)
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