Markle’s podcast took a notably long time to materialize, and an exclusive deal Spotify inked in 2019 with Higher Ground, the production company run by former President Barack Obama and former First Lady Michelle Obama, was ultimately not renewed after the Obamas pushed for a nonexclusive distribution plan.
Partnerships with celebrities such as Kim Kardashian, Meghan Markle and Jordan Peele helped Spotify make inroads into the densely packed podcasting space.īut these high-profile projects were sometimes marred by controversy. In 2020, Spotify became the exclusive home of the influential “The Joe Rogan Experience” in a deal said to be worth around $100 million. The company acquired a handful of podcast networks including the Ringer - a popular sports and culture brand - Gimlet Media and Parcast, as well as the podcast distribution platform Anchor FM.
Competition is fierce, with Apple and YouTube serving as major platforms for podcasts and TikTok and Twitch attracting hordes of young, digitally savvy viewers. Spotify has been trying to establish itself as a leader in the podcast space, looking to draw in new subscribers and diversify its offerings beyond music, even as investors have sometimes expressed doubt about the play.
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