Additionally, the entity paid $235 million for Megaphone last November, a reported $250 million for The Ringer in February of 2020, and a reported $230 million for Gimlet Media in 2019. ![]() ![]() Some analysts then set bullish SPOT target prices, touting the perceived earning potential associated not only with JRE, but podcasting in general – and expressing the hope that non-music audio entertainment would enable Spotify to move past its razor-thin music margins and tap into a new revenue source.Īs an aside, Spotify reportedly paid $100 million for the rights to JRE and also hosts (undoubtedly expensive) podcasts from Michelle Obama as well as Barack Obama and Bruce Springsteen, to name some.
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