Spotify’s Next Acquisition?
An estimated 100 million Americans listen to podcasts each month. By 2028, this form of media is projected to become a $95 billion industry.
One of the leaders in this industry is streaming platform Spotify. It’s spent nearly $1 billion on podcast-related acquisitions, including paying $200 million to acquire the exclusive license to the popular “Joe Rogan Experience” podcast.
Straw Hut could be Spotify’s next acquisition target. This company is a content creation platform that hosts and distributes more than 30 unique podcasts. Content includes pop culture, history, health and fitness, and entrepreneurship.
Podcasts hosted by Straw Hut were downloaded more than 12 million times in 2021. And one of its podcasts provides an in-depth look at the award-winning TV show “Only Murders in the Building.”