![]() Spotify, in its filing Wednesday, also said that in the first few weeks of 2020 it signed license agreements with “certain music labels and publishers and podcast agreements with creators,” which comprise minimum guarantee and spending commitments of approximately $200 million (€186 million) over the next three years. In announcing record quarterly Premium subscriber adds in Q4, Spotify said it would continue to invest in podcast content and infrastructure and claimed podcast listening hours grew nearly 200% in the last three months of 2019. The Gimlet deal was worth about $189 million (€172 million) plus up to $44 million in incentives Anchor was $150 million (€136 million) plus $22 million in incentives and Parcast was $54 million (€49 million) plus up to $11 million in incentives. ![]() In 2019, Spotify acquired three podcast companies - Gimlet Media, Anchor and Parcast - paying some $393 million for them, with additional payment incentives over four years contingent on employment, according to regulatory filings. Apparently referencing Simmons’ ESPN background, Ek added, “What we really did with The Ringer, I think, is we bought the next ESPN.” ![]() “The trend that we’re investing in is that radio is moving online,” he said. The acquisition of The Ringer will bring “highly loyal sports and culture fans to the platform,” Spotify CEO Daniel Ek said on the company’s Feb.
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