Spotify Technology SA is in talks to purchase podcasting giant Gimlet Media, according to The Wall Street Journal citing people familiar with the matter, a move that would give a boost to the music-streaming company’s narrative-audio ambitions.
Talks are ongoing and it is still possible that a deal won’t happen, the people said.
Gimlet Media, which was co-founded by former “This American Life” producer Alex Blumberg and former Boston Consulting Group consultant Matthew Lieber in 2014, is the producer of popular podcasts like “Reply All,” “StartUp” and “The Nod.” The company recently partnered with Spotify to release the second season of the “Crimetown” podcast on the audio-streaming service.
Stockholm-based Spotify has been expanding beyond music streaming and into the world of podcasting, as it aims to capture more of consumers’ listening time and, eventually, boost profit margins. Although podcasts have been available on the service for years, they have become a priority only in recent months. That has meant building out capabilities to fast forward and host longer-form content, as well as feature podcasts prominently on the platforms.
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