Safe to say, Spotify recovered whatever it spent in under a day.
In fact, when Spotify announced the deal - its stock went up by 10% which translated to over $3B in market cap. Now, what use is all the best podcasting tech if you don’t have the ears of the audience? With the $100M Spotify has essentially bought ( oops! I meant ‘brought’ 🤑) a hopefully significant percentage of those ~10M subscribers to its platform. Spotify has been acquiring various production technologies and podcast producing companies over the year such as Gimlet Media and Anchor FM and most of its non-tech jobs advertised in India were for Podcast Producers in recent times. Spotify has caught hold of that and is investing a lot in producing its own content, especially podcasts.
Netflix is likely to spend nearly $20 billion on original content this year and Amazon is supposed to have spent upwards of $6 billion on content in 2019. Now, one way to solve this problem would be to produce your own content – which streaming companies like Netflix and Amazon Prime do.
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