Spotify Is Buying The Ringer

The site has a lineup of more than 30 podcasts, including “The Bill Simmons Podcast” and “The Rewatchables.” It publishes original articles daily and houses a video network, a film production division and a book imprint. Last year, Mr. Simmons told The Wall Street Journal that the site was profitable. In a statement on Wednesday, Mr. Simmons said he believed that “Spotify can take us to another level.”

In addition to announcing the agreement to buy The Ringer, Spotify reported a 29 percent rise in paid subscribers for its audiostreaming services in the fourth quarter of 2019, to 124 million, giving it a significant lead over its main rival, Apple.

The company, which has its headquarters in Stockholm, has been moving away from its identity as a music-streaming service. Last year it acquired three podcast companies, including Gimlet Media, the maker of the podcasts “Crimetown” and “Reply All.”

Dawn Ostroff, chief content officer of Spotify, said The Ringer, with its many sports podcasts, would drive the company’s “global sports strategy.”

The union representing The Ringer employees, the Writers Guild of America, East, expressed concern about the deal when it was in negotiations, which came to light in a Jan. 17 article in The Wall Street Journal.

Article source: https://www.nytimes.com/2020/02/05/business/media/spotify-the-ringer-bill-simmons.html?emc=rss&partner=rss