Spotify reportedly paid $340 million for its podcast expansion.
The purchases of Gimlet Media and Anchor, major steps in the move into podcasts— a key area of potential growth for the streaming giant— clocked in at a combined value of $338million, according to official figures from the company.
These are just two of a number of acquisitions the firm has in mind for 2019, with a total budget of $500million available to spend. Expansion remains necessary to bolster Spotify's own market value, which has been in troubled waters over recent months despite ongoing growth in premium user numbers and several new offerings on the platform.
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