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11/10/2020, 3:11 PM (Source: TeleTrader)
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Spotify to buy podcast firm Megaphone for $235M - report

Spotify will purchase Megaphone for $235 million, the Verge reported on Tuesday, citing people familiar with the matter.

The acquisition of the podcast company isn't expected to change Spotify's podcasts but it will enable Megaphone to use Spotify's Stream Ad Insertion, meaning all suggested ads on Megaphone will be able to be shown to customers based on real-time data.

Spotify has made a number of deals related to podcasts lately, including Gimlet Media, The Ringer, and Anchor.

Breaking the News / VP