Spotify is purchasing The Ringer to expand its sports content audio offerings. Image: efks/Istock.com via AFP Relaxnews
Over the years, Spotify has been expanding beyond music and into the podcast industry in a bid to become the leading audio streaming platform on the market.
Over 2019, the brand purchased not one, not two, but three podcast companies; now, as of this week, Spotify has begun the acquisition of The Ringer, a sport, entertainment and pop-culture site originally founded by Bill Simmons four years ago.
According to the announcement of the purchase, this addition to the Spotify platform will not only expand its audience reach and content collection, particularly in the sports sector, but also provide the company with “new opportunities for monetization along with a continued focus on deepening audience engagement and innovating formats within Spotify’s business model.”
The acquisition is expected to be complete by the end of the first quarter this year. IB /ra
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