Spotify has announced a deal to acquire The Ringer, ESPN alum Bill Simmons’ sports, entertainment and pop-culture media company. Terms of the pact have not been disclosed.
Founded in 2016, The Ringer boasts more than 30 podcasts – including some post-episode broadcasts for TV series – which hail from Simmons and the startup’s staffers as well as names such as David Chang and Larry Wilmore.
Spotify will further expand the network’s podcast lineup and audience reach, particularly in sports, along with offering new opportunities for monetization. The deal is expected to close Q1 2020.
Spotify acquired Gimlet Media, Anchor and Parcast and is continuing a heavy push into podcasting – something which is paying off with the company gaining record quarterly premium subscriber adds to the service with 124 million now paying to subscribe.
Source: The New York TImes