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SPOT - Spotify Continues Its Podcast Shopping Spree
Spotify Technology S.A.
It's been nearly two years since paid music streaming leader Spotify (NYSE: SPOT) kicked off its podcast acquisition extravaganza. The company scooped up Gimlet Media, Anchor, and Parcast in early 2019 before proceeding to buy The Ringer in early 2020. Spotify announced earlier this week that it plans to acquire Megaphone, a podcast advertising and publishing platform, for $235 million from Graham Holdings Company (NYSE: GHC) .
Here's what the acquisition means for Spotify's podcasting ambitions.