Spotify to reportedly Sign a Deal with Gimlet Media worth $200 Million

Spotify is planning to step into the podcast industry by purchasing Gimlet Media for more than $200 million, according to reports.

If the deal goes positive, this will be the first content company acquired by the music streaming service. This partnership will also provide Spotify’s listeners with fresh contents from Gimlet.

Though both of these companies have not commented anything on the reports; the audio streaming giant’s Head of Studios and Video, Courtney Holt, has commented on its podcast service earlier this year, “When we started the initiative, we realized a couple things. One is that we’re a great audio platform, and we really wanted to focus on providing the best audio experience. We found podcasting to be a great complement to our music service.”