![]() ![]() Spotify controls only about 10%, though they have managed to double from 5% since they launched podcasts back in 2016. There are a couple of ground conditions to note: first, Apple Podcasts is the overwhelming incumbent in this space with about 70% of market share. Spotify has a chance to get in on the ground floor of a market that pairs naturally with its core product, all the while diversifying away from music, which is a market at the whims of the big American record labels. ![]() On the business side, podcasting has seen close to triple digit growth in the last few years, from 69 million in total revenue to 315 million in 2019 it’s on track to continue this trajectory for 2020 and beyond. The underlying technology is functionally the same too - after all, sound is sound whether musically inclined or not. It represents an expansion of Spotify’s portfolio from merely music to all things auditory. Spotify didn’t stop there with the splashy numbers - in May this year, Spotify announced a groundbreaking 100 million dollar exclusivity contract with Joe Rogan, creator and host of the Joe Rogan Experience (JRE), launching sometime next year.Īt first glance, this push into podcasts makes a lot of sense for Spotify, one of the biggest players in music distribution. These two deals combined was greater than the total of podcast revenue in 2019, 315 million. Last year, Spotify was responsible for two gigantic acquisitions in the nascent podcasting space: Gimlet, a podcast production company, for 225 million, and Anchor.fm, a podcast hosting service, for 110M.
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