The Ringer is a Big get for Spotify’s Podcast Offerings

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Spotify Acquires Ringer to Further its Podcast Lineup

Spotify has announced a new acquisition. The Ringer has over 30 podcasts in its network. With the addition of Ringer, Spotify is expecting to increase its number of users and explore investments in other podcast businesses.

Bill Simmons is a writer, entrepreneur, podcaster, and founded The Ringer in 2016. Simmons started the company when he left ESPN. While The Ringer was originally a digital platform, it eventually became a podcast platform that now houses more than 30 podcasts with 100 million downloads per month.

Some of the podcasts in the platform include The Bill Simmons Podcast, The Rewatchables, The Ryen Russillo Podcast, and more. Simmons said now that the site is profitable it will only grow with Spotify’s backing.

Podcasting Industry

The Ringer has capitalized on a preexisting audience. ESPN draws in a partial viewership through commentary shows. It only makes sense that, Simmons who came from a background at ESPN, created a platform with a similar format. Spotify now has over 700,000 podcasts and has grown 200% from the last quarter.

Danielle Lee Spotify’s global VP for Partner Solutions stated that acquiring The Ringer was part of their plan to expand their reach in the podcast space. This started with last year’s acquisition of Gimlet Media and Anchor for $340 million and Parcast for $55 million. They are now in the process of doubling their audio offerings and furthering their business beyond music. Part of their plan is to become the world’s leading audio platform for audio streaming.

The next ESPN

Spotify CEO Daniel Ek explained in a report last Wednesday that The Ringer is the updated ESPN. This new purchase will prove to be a valuable property for Spotify as it tries to venture into the development of sports audio content for the next decade. People who are into sports will be tuning into Spotify for their next dose of sports news and commentaries.

Ek is hoping for a healthy relationship with the new management for all their staff members. This acquisition has been in the rumor mill for weeks and has now been closed.

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