According to Recode, Spotify is in advanced talks to acquire Gimlet Media. Spotify reportedly plans to pay more than $200 million to buy Gimlet Media.
If this deal happens, it will be the first time Spotify has bought a content company. It will also be one of the biggest acquisitions in the podcasting industry.
It is possible that Spotify is looking to compete with Apple Podcasts for podcast listeners. Recode noted that while Apple is the dominant podcast distributer, it doesn’t appear to spend much energy on podcasts. Spotify has already started promoting podcasts to its 200 million users.
Hot Pod pointed out that Spotify has already started emphasizing a content strategy where it brings “voices in-house, or at least exclusively licenses their content”.
One of those deals involved Amy Schumer. Her comedy podcast 3 Girls 1 Keith is exclusively on Spotify.
Spotify reported that The Joe Budden Podcast brought its series exclusively to Spotify on September 12, 2018. The Apple Podcast listing for The Joe Budden Podcast has some extremely short episodes that direct listeners to seek out the podcast on Spotify.
Jemele Hill’s Unbothered podcast will launch on Spotify in March of 2019. It will be hosted by Jemele Hill and her co-hosts, and will include a rotating cast of guests. It will provide an honest discussion of American life. It appears this podcast will be exclusive to Spotify.
Gimlet Media is an award-winning narrative podcasting company that aims to help listeners better understand the world and each other. It was founded in 2014 and is based in Brooklyn, New York. Gimlet raised $15 million earlier this month, something that appears to be unheard of for a podcasting company.
Variety reported that Gimlet Media raises $15 million in Series B financing led by investment firm Stripes Group. It is a leading growth equity firm that makes $10-150 million investments in internet, software, healthcare IT and branded consumer business.
Variety also reported that Emerson Collective also joined in the funding round. Emerson Collective was established by, and is led by, Laurene Powell Jobs. Emerson Collective is dedicated to removing barriers to opportunity so people can live to their full potential. They use a wide range of tools and strategies to develop and execute innovative solutions that will spur change and promote equality.
ReCode reported that previous to the $15 million, Gimlet had raised $7 million.
People familiar with the company say investors valued Gimlet at $55 million pre-money – that is, it’s worth $70 million now – and that the 80-person company is on track to generate something in the range of $15 million this year.
The ReCode article includes interesting information about why venture capitalists had not been interested in investing in podcasting. The article also points out that Gimlet “will use some of the money to build out new programs, train new podcasters, expand the company’s in-house advertising shop and work on exporting hit podcasts into other formats.”
Gimlet is looking for a Producer of a new podcast called The Pitch. It is described as “a reality show that brings listeners into the room as real entrepreneurs pitch to real investors – for real money.”
Gimlet media tells stories through audio. Their roster of podcasts includes newly-launched, critically-acclaimed shows like Homecoming, Heavyweight, and Science Vs. Gimlet is also home to perennial favorites Reply All and Start Up. Gimlet is looking for ambitious, curious, talented, and kind people to join their team.
The Pitch is a reality show that brings listeners into the room as real entrepreneurs pitch to real investors – for real money. While it offers a glimpse into the high stakes world of venture capital, its really a show about human relationships: how people sell their companies, what makes investors tick, and how these initial conversations can bloom into business deals – or die on the vine. To achieve this, pitches are edited down and narrated for clarity but it’s important to us to always stay true to what really happened in these conversations.
As such, Gimlet is looking for an experienced producer who has a passion for VC culture and an appreciation for narrative storytelling. They need someone who can work independently to edit long, sometimes wonky pitches into digestible 30-minute experiences for listeners. This involves cutting multiple tracks of tape; writing tight, clear, narration; and looking for fresh, creative ways to tell each story. The Pitch is still early in its life with Gimlet, so there is a real opportunity for someone to take ownership over the growth and direction of the show.
Those who are interested in this job should read the full Gimlet ad for more details. This is a full-time role based in Gimlet’s Brooklyn, New York, offices. The posting will be closed at 5PM on August 2, 2017.
Everyone starts a podcast with the intent of keeping it going as long as possible. Unfortunately, circumstances may change and cause a podcast to come to an end. Such is the case with the Undone podcast that has informed its fans that it is done.
Undone was a podcast from Gimlet Media. Undone was hosted by Pat Walters. The show was about how big stories we thought were over were actually the beginning of something else. The very last episode of Undone was posted on January 23, 2017. It is about the Space Shuttle Columbia.
The same day that Undone’s very last episode was posted, an explanation appeared on the Undone Facebook page. It said:
Hey everybody, we’re sorry to announce that Undone will not be coming back for a second season.
Making this first season was incredible and we’ve loved seeing how the stories resonated with you. Which made this decision really hard. Undone was performing well, but the show requires a very particular kind of editorial support, and as we got into the first season, it became clear that as of right now, we don’t have everything we need for it to keep growing and experimenting and finding its way. Gimlet is a start-up. Some things we try are going to continue on for a long time. And some things won’t.
So after a lot of thought and discussion, we reached the decision to stop making the show. We’re tremendously proud of the work we’ve done this season, and overwhelmed with gratitude for all of you who have listened, posted reviews, and written to us. Thanks also to Retro Report, the documentary film series we worked with on coming up with the idea for the show; to Gimlet; and to our fantastic team. We’re excited to bring you new stories and other projects down the line.
Pat Walters provided further explanation on his Twitter account:
It’s always sad when a podcast that was doing well, and had a lot of fans, comes to an end. The right thing to do was to reach out to fans and explain why the show was ending, and I think Pat Walters handled that very well.