Spotify is continuous its pursuit of podcasting expertise. Immediately, the corporate introduced that it’s partnering with filmmaker Ava DuVernay and her Array media collective to launch unique scripted and unscripted audio programming. These exhibits will come out of Spotify’s Gimlet staff, and Spotify didn’t provide any preview of what the brand new applications may entail.
DuVernay is simply the most recent in a string of high-profile expertise offers Spotify has inked. It locked down Joe Rogan’s present exclusively last year, in addition to new exhibits from Kim Kardashian West, Prince Harry and Meghan Markle, in addition to the Obamas’ production company Greater Floor. It’s additionally acquired notable podcast networks, together with Gimlet Media, Parcast, and The Ringer.
The technique with all these offers appears to be constructing out a strong catalog of programming that has one thing for everybody. This, in flip, may carry extra folks to the Spotify app and switch them into lifelong customers who, ideally, additionally pay for a premium subscription. Spotify additionally sells adverts towards these exhibits, even for paying subscribers, which means it could actually double dip in income.
In the meantime, Spotify’s dealing with stress from traders who don’t see the strategy panning out, not less than not but. Even nonetheless, opponents like Amazon and Google have since gotten extra critical about podcasting whereas Apple is rumored to be considering launching its personal subscription podcast service. Spotify now has new competitors, in addition to its inventory market value to contemplate.