Report: Spotify Interested In Acquiring The Ringer

Spotify Technology is in talks to buy sports and pop-culture outlet the Ringer, according to The Wall Street journal citing people familiar with the matter, a deal that would let the audio streaming giant break into broader digital media and bring a network of more than 30 podcasts under its roof.

Discussions are early, these people cautioned, and may not result in a deal.

Spotify, the largest music-streaming platform by subscribers, has been investing heavily in podcasting, a bet it hopes will keep users more engaged, bring over more listeners from radio and increase profit margins. Last year the company spent $400 million to snap up three podcast companies and struck more than two dozen deals for exclusive or original content.

The streaming giant is in the market for more, according to one of the people, and the potential Ringer acquisition is just one of many possible transactions under consideration.

The Ringer, a sports and pop-culture outlet founded by former ESPN commentator Bill Simmons in 2016, has a podcasting network that attracts more than a 100 million downloads a month. In addition to “The Bill Simmons Podcast,” the Ringer produces “The Watch,” a discussion show about TV and pop-culture; “Binge Mode,” which dives deep into pop-culture franchises; and “The Rewatchables,” a show that breaks down popular movies.