Spotify bet big on podcasts. Will it pay off?

Kim Kardashian West is generating a podcast for Spotify

Kim Kardashian West has signed an unique podcasting offer with Spotify (Place) that will protect themes of wrongful conviction and prison justice reform, equivalent to the work she has done with the Innocence Project. The nonprofit corporation is effective to exonerate wrongly convicted people.
The offer was initial claimed by the Wall Road Journal, which additional that tv producer Lori Rothschild Ansaldi will co-host and co-develop.

A Spotify spokesperson verified the offer to CNN Business but declined to present added aspects, which includes the launch day.

This deal with Kardashian West is the newest in a sequence of moves by the audio streaming services to dominate the podcast business. In May perhaps, Spotify signed 1 of the world’s most well-known podcasts, “The Joe Rogan Expertise,” for a multi-calendar year unique licensing offer. Previously this yr, Spotify acquired The Ringer, Monthly bill Simmons’ athletics and culture site which boasts a lot more than 30 podcasts. All those deals add to Spotify’s other podcast-centric acquisitions, together with Gimlet, Parcast and Anchor.
Apple has extended been the dominant participant in the podcast business. But Spotify has been developing in popularity in component by investing in exceptional deals. Past yr, Spotify’s Chief Content and Marketing Small business Officer Dawn Ostroff told CNN Organization about the firm’s method for much more exclusives.

“We’re generating additional content material exclusive on the platform, [which] will allow us to current market in a a lot more meaningful way [and] provide men and women on to the system,” Ostroff said at the time. “And we’re getting that creators are thrilled about doing the job with us on an unique basis, because we are able to put so a great deal much more of our promoting and on-system details and insights in their arms.”

In spite of the pandemic altering people’s each day life, Spotify stated its podcast enterprise is rising. About 19% of Spotify’s regular active users hear to podcasts, up from 16% previous quarter, the corporation claimed in April as portion of its 1st quarter earnings.

Correction: An before version of this report incorrectly characterised the mother nature of Kim Kardashian West’s Spotify podcast.