Spotify, founded as a music-streaming service, in recent years has recast itself as an audio company, with big bets on podcasting and live audio, including deals for podcast makers Gimlet Media and Bill Simmons’s the Ringer and a $100 million-plus licensing agreement with Joe Rogan, The Wall Street Journal reported.
An estimated 116 million Americans, or 41% of the population over the age of 12, are now monthly podcast listeners, up from 37% in 2020, according to Edison Research and Triton Digital. ad revenue from podcasts grew 19% to $842 million in 2020, is set to top $1 billion this year and will reach $2 billion by 2023, according to trade group Interactive Advertising Bureau. Spotify is on pace for 28.2 million monthly podcast listeners by the end of 2021, besting Apple’s likely 28 million, according to forecasts from research firm eMarketer. The effort comes as Spotify is poised to overtake
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