Days after reports of Spotify planning to buy Bill Simpsons’ podcasts were doing the rounds on the internet, the company has confirmed the deal to complete the acquisition. The deal was first confirmed by Vox but the details have yet not been released. With the popularity of Bill Simpsons’ podcast in mind, the expected evaluation of the deal by analysts is pretty massive. Daniel Ek, Spotify’s CEO, confirmed the deal while speaking at an interview with Recode. Spotify appreciated the entire team of Bill Simpsons’ podcast and has expressed interest to hire all 90 employees.
Spotify was visibly attracted by the content on Bill Simpsons’ podcasts and had earlier drawn him in to creat a podcast for Spotify as well. Workers at The Ringer were concerned about their future as the deal did not clearly indicate anything about their job prospect. Spotify’s has clearly stated that it intends to continue with The Ringer’s website on which majority of the employees used to work. Spotify is trying hard to compete with Apple Music and gain an upper hand in the audio streaming industry. What remains to be seen is what Spotify plans to do with the content that is released on The Ringer’s podcasts. While some are expecting Spotify to make the content platform exclusive, some other believe the content will shared across all of Spotify’s premium platforms.
Spotify also announced the number of its paid subscribers which clearly indicated that the company is achieving what it aims to. With over 124 million paid subscribers reported now, it leads the way by more than twice of the number of paid subscribers Apple Music has. Spotify’s 124 million subscribers at the end of 2019 also indicate a 29 per cent growth when compared to last year.