Gimlet media spotify

The deal was announced at the same time as the purchase of Anchor, a podcast creation and distribution platform. In his blog post discussing the dealSpotify CEO, Daniel Ek, explains the move toward podcasts as the next phase in the growth of audio.

Of course, the acquisition adds a new development in the conversation surrounding the power of podcast advertising.

Here we dive into what Gimlet signals for media and what the purchase could mean for advertisers. Gimlet is a relative newcomer to media offerings, even by podcast standards. But the industry is clearly growing. But Gimlet and now Spotify is capitalizing on the recent movement toward high-quality content that can be streamed. Gimlet recognized it needed a global player to reach new and larger audiences. So, where does the power in podcast advertising come from in this cross-section?

Despite the small ad revenue associated with podcasting, the digital broadcasts seem to have a huge audience. Half of Americans listen to podcastsand over a third of those people listen to at least one full podcast episode weekly.

Gimlet Media

Over million podcast episodes have been created to date. More than anything, podcast ads tend to be naturally placed and engaging. Hosts can be authentic with the ads, with just a short introduction distinguishing the ad from the meat of the podcast.

The engagement comes from the authenticity of the format and the niche nature of podcasts. This also means that we can reach just about any audience we want to. Beyond the ads within the show itself, podcast advertising also often offers an opportunity for cross-media ads.

Many shows will put together sponsorship packages with native advertising, email blasts, future mentions, social tags, and more. While pricier, this approach can let advertisers meet multiple goals at once.

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Whether advertisers use podcast ads for lead generation or brand exposure depends on the niche, on the budget, and on the brand. It will take some experimenting. The purchase of Gimlet as a media company and Anchor as a distribution platform moves Spotify towards, oddly enough, mirroring traditional radio with music, podcasts, and advertising.

The difference is the app offers the unprecedented elements of personalization, curation, and discovery. And it just might be what it means to advertisers, too. Gimlet: New Narratives in Media Gimlet is a relative newcomer to media offerings, even by podcast standards. The Power of Podcast Advertising Despite the small ad revenue associated with podcasting, the digital broadcasts seem to have a huge audience. What Gimlet Means to Spotify The purchase of Gimlet as a media company and Anchor as a distribution platform moves Spotify towards, oddly enough, mirroring traditional radio with music, podcasts, and advertising.

Request a demo Login.Those talks concluded in a deal that was announced Wednesday morning, which also included news that Spotify was buying Anchor, a technology platform that seeks to help more people create and monetize podcasts.

The podcast industry has never seen money like this before, and the shock waves are going to be intense. Those original shows generally take the form of talk radio—style programming fronted by talent like Amy Schumer, Joe Buddenand Jemele Hillbut also involve quirkier fare like the serialized music podcast Dissectwhich it acquired last year. Its adventures in the music business has been defined by bruising rivalries with big music labels — whose licensing fees drive up the cost of distributing music — and an array of well-armed competitors like Pandora and Apple Music.

Acquiring Gimlet is a massive step forward for the original programming piece of its podcast gambit. In Gimlet, Spotify now has a podcast factory line that has a track record of hits though, its recent run of shows has been a mixed baghas attracted the eye of Hollywood with its own takes on podcast-to-adaptation pipeline manifesting most recently with the acclaimed Sam Esmail—led adaptation of Homecomingand has developed a brand that consistently draws press coverage.

Initial reactions among the podcast community are generally strong … in all directions.

gimlet media spotify

But there is also strong opposition to what Spotify represents, which is a future where podcasting is much less open and democratic than it originally was. Born out of the same open publishing technology as blogs, podcasting was once a quirky backwater pond of digital curiosity — equally inhabitable by highly produced public-radio programming, personality-driven talk radio—style shows, and shaggy conversational podcasts started by anybody with a microphone, all working the same odds of finding an audience over a decentralized ecosystem.

This relaxed podcasting environment was largely the result of the fact that the medium had been allowed to grow on its own terms under the hands-off stewardship of Apple.

gimlet media spotify

For the longest time, podcasting was defined by those low stakes: It was something that a steadily growing number of people really loved, but nobody knew how to make money off of.

What comes next is modernity, with all the good and bad that can bring. Already a subscriber? Log in or link your magazine subscription. Account Profile. Sign Out. Tags: podcasts spotify gimlet media.

Most Viewed Stories.His name is Daniel Ek. Analysts said the move further cements podcasts as an important category for streaming music platforms such as Spotify and Pandora, as both companies seek to grow their audiences through ad-supported and subscription-based memberships. Spotify says podcast listeners spend twice as much time on the platform and that the medium has helped bring in new users. The expansion into podcasting comes as Spotify seeks to increase the amount of content on its platform, as rivals in the streaming-music space are closing in on its lead.

Launched inSpotify lets users stream their chosen audio for free with ads or ad-free with a subscription. In the fourth quarter, Spotify had million monthly active users and 96 million premium subscribers. But competitors have steadily grown. They include Apple Music, which launched in and now has more than 50 million paid subscribers.

Pandora, owned by SiriusXM, also has invested in the podcast space, using its technology to recommend podcasts for its listeners. With its podcast acquisitions, Spotify has the potential to provide exclusive non-music content in a way that is similar to Netflix providing exclusive shows on its platform, analysts said.

Podcasting exclusives absolutely can work, especially in a scaled platform. In its earnings letter to shareholders, Spotify said podcasts were part of its strategy for faster revenue growth.

The acquisitions may also help reduce the money that Spotify pays to labels by cutting its music-streaming fees, some analysts said. Spotify executives said it would employ its most recent acquisitions to bring more content to its platform.

Already, more thanpodcast titles are on Spotify, and in the fourth quarter, 14 of those were exclusives. Spotify and Gimlet declined to comment on the acquisition price. Anchor, also based in New York, is a platform that provides tools for podcasters to monetize and distribute their programs.

Twitter: thewendylee. The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future. You may occasionally receive promotional content from the Los Angeles Times.

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Hot Property. Times Events. Times Store.It's been over five years since Alex Blumberg, of radio program "This American Life," awkwardly pitched venture capitalist Chris Sacca about an idea for a new podcasting company, and recorded the experience for the world to hear. But given Blumberg's struggles to construct a complete comprehensible sentence for Sacca — "I want to start a company that will create the content for all these people to listen to who are, like, moving into the digital future slash present" — it was hard to envision the aspiring entrepreneur meeting a lucrative ending and hiring over employees along the way.

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On Friday, "Startup" aired the concluding episode of its final season. Spotify announced the purchase of Gimlet on the same day it acquired Anchor, a podcasting technology provider, underscoring the company's effort to move beyond music and "become both the premier producer of podcasts and the leading platform for podcast creators. Consumers were showing Spotify the way. According to a study earlier this year from Edison Researchabout 90 million Americans are listening to podcasts every month, up from 73 million in For fans of "Startup," the final three-episode season offers a satisfying conclusion to the kind of chaotic corporate story that's almost always shielded from public consumption.

Sincethe show has provided a fly-on-the-wall view of fights between Gimlet's co-founders, employee burnout, uncomfortable conversations about diversity and sensitive meetings with potential investors. The podcast "Startup" wraps up by pulling back the curtain on what was happening inside the Brooklyn-based company when Spotify approached last year. The podcasting business had suddenly become crowded.

Far more shows were competing for the same listeners and same ad dollars, forcing content creators to lower the costs they charged advertisers or leave inventory unfilled. By earlyGimlet's audience was plateauing and the company was struggling to lure advertisers, a particularly problematic scenario because it had poured money into heavily produced shows that were now destined to lose money. Blumberg and co-founder Matt Lieber were fighting.

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Lieber, the business guy, saw the costs adding up, and he was losing patience with Blumberg, the product visionary. In the first episode of the final season, Lieber was asked how he felt about Blumberg when things were at their worst. Blumberg, who was narrating the show, said, "In the swirl of anxiety about Gimlet's future, we were becoming caricatures to each other. One specific point of tension involved the development of a documentary miniseries called "The Habitat," about a crew of volunteers spending a year together on a remote mountain in Hawaii, simluating what life would be like on Mars and sending audio back to the producer.

The show, which launched in Aprilblew past its budget and took much longer to produce than expected. But then that year stretched towards two," and it became clear the show would lose money. In another scene, Lieber was with a small team at Cannes trying to close a big advertiser deal that had been in the works for a year. Blumberg hadn't been much involved in the deal, only to chime in at the 11th hour with detailed questions and concerns, leading to a testy cross-Atlantic exchange.

As an outside observer, this friction was masked by the continuous rollout of entertaining content, like fictional shows "Sandra" and "The Horror of Dolores Roach," the investigative series "Crimetown" and the deeply personal narratives of "Heavyweight.

It appeared that Spotify was paying up for a fast-growing, successful start-up.Spotify made a major step in building up its original content on Wednesday, announcing plans to acquire privately held podcast producers Gimlet Media and Anchor. The move is just the next step in Spotify's ambitions to become the Netflix of audio by accelerating its spending on original content. CEO Daniel Ek said in a CNBC interview with Jim Cramer and David Faber that while "the magnitude of the numbers won't be the same" as Netflix's massive spending on original content, "I don't think it's unlikely that it is a Netflix type of story," in terms of increasing investment in the area.

According to Quah, those terms would make it the largest podcast industry acquisition to date. Spotify hopes the acquisitions will broaden the appeal of its platform. Ek said in the interview that Spotify's podcast listeners use the platform "almost twice as much" compared to other users. In a blog post published on Spotify's blog, Ek wrote he anticipates more than 20 percent of listening on Spotify will eventually be "non-music content. Gimlet's vast array of fiction and non-fiction shows, including "Reply All," "Startup" and "Homecoming," which was recently adapted into a Netflix series, will help add to Spotify's growing library of podcasts.

Gimlet has recently expanded its focus into pitching adaptations of its podcasts to Hollywood. Anchor brings a different part of the equation to Spotify with its easy-to-use podcast creation technology.

Anchor serves as a platform for podcast creators to make and distribute their shows. Anchor had 15 billion hours of content on its platform in Q4, Ek said in the blog post. When asked in the CNBC interview about big tech competitors like Apple and Amazon that have made investments in the streaming space, Ek said while they "are formidable companies," Spotify is committed to remaining focused on audio, rather than dabbling in several areas like both those companies do, referencing Apple's work in self-driving cars.

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Spotify had announced a partnership in video inbut reportedly struggled to gain traction. And I don't think that's the case," he told the Journal.

What Spotify’s $230 Million Gimlet Deal Means for the Podcast Industry

Spotify was down 2. Spotify's slowing sales numbers may have contributed to the dip in the stock as well. Sales grew 29 percent indown from 39 percent growth in and 52 percent in Skip Navigation. Markets Pre-Markets U. Key Points. Spotify announced it is buying privately-held podcast companies Gimlet Media and Anchor. VIDEO Spotify CEO speaks out on hate content policy: 'We rolled this out wrong'.Gimlet Media, Inc. Gimlet was founded in August with the launch of its flagship podcast StartUp hosted by Alex Blumberg.

In JulyGimlet announced it would add the option to pay for membership, a decision motivated by a desire to diversify revenue streams to include more than advertising. Members were given early access to pilots for new Gimlet shows, a Gimlet T-shirt, and access to the company's Slack channel.

Alex Blumberg, a radio journalist, producer for This American Lifeand co-founder of Planet Moneycame up with the idea of a for-profit podcast network after the success of a T-shirt fundraising campaign for Planet Money. He chose to document the foundation of Gimlet in the first season of StartUpthe company's first show.

StartUp' s first episode aired on September 5,and was hosted by Alex Blumberg. Through documentary-style storytelling, the podcast shares Blumberg's experience building Gimlet Media from an idea through to a startup business. In episode 12 of season 1, Blumberg announced his new co-host, Lisa Chow.

gimlet media spotify

While the initial podcast subject of the development of Gimlet Media is routinely addressed, subsequent seasons have featured an array of different startups and business personalities, including American Apparel founder Dov Charneyventure capitalist Arlan Hamiltona church plant applying business practices to the non profit sector, and the rise of Success Academy Charter Schools among others. The final season of Startup covered the process of Gimlet's acquisition by Spotify and the podcast formally concluded with its final regular episode on October 18, Alex, Inc.

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On November 24,Gimlet's second show, Reply Allmade its debut. In Februaryformer Gimlet producer Eric Eddings revealed in a Twitter thread that Vogt and Reply All producer Sruthi Pinnamaneni had opposed staff unionization efforts and contributed to a "toxic culture" at the show, particularly for staffers of color.

gimlet media spotify

The program dissects fads that are framed as scientific facts. In SeptemberGimlet released the first episode of the podcast Heavyweight with Jonathan Goldstein. The company describes the format as stories "about journeying back to the moment when everything went wrong". The show's fourth season debuted on September 4, Crimetown, a documentary series "centered on organized crime " debuted in The first season focused on organized crime in Providence, Rhode Island.

Season two of Crimetownwhich focuses on police corruption and brutality in s Detroit, Michiganbegan on October 2, In Juneit was announced that the podcast The Pitchhosted by Josh Muccio, would move to Gimlet Media [20] after previously being produced independently.

The program features entrepreneurs in need of venture funding as they pitch to a live panel of angel investors, similar to ABC 's hit TV series Shark Tank.Ina year-old Indigenous woman named Jermain Charlo stepped out of a bar in downtown Missoula, Montana, and disappeared. Journalist Connie Walker travels to Montana to retrace what might have happened to Jermain.

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We talk with one of the board's co-chairs, former Danish Prim So, what do you do with pounds of seaweed? In part II, we ask: What d Season 10 starts March 4! Billy Markus created the cryptocurrency Dogecoin on a lark, based on a viral dog meme. Eight years later, his creation is worth billions of dollars.

Porn in Times Square. As Chippendales gains national fame and daytime talk sh Dominion Voting Systems, the voting-machine maker, was swept up in a storm of allegations about its role in the election.

Gimlet Media is the award-winning narrative podcasting company that aims to help listeners better understand the world and each other.


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