USA TODAY International Edition
SPOTIFY TO BUY PODCAST COMPANIES GIMLET, ANCHOR
Music streaming service Spotify is buying podcast companies Gimlet and Anchor as it looks to take on Apple’s popular iTunes’ podcasting platform. The acquisitions are an aggressive move by Spotify to expand into the small but burgeoning podcast industry. Gimlet Media is known for producing the podcast “Homecoming,” a fictional thriller that was made into an Amazon series starring Julia Roberts. Anchor has a platform of tools for podcast creators as well as an established and rapidly growing creator base.In its earnings announcement Wednesday, Spotify said it plans to spend $400 million to $500 million on acquisitions in 2019.