https://techcrunch.com/2019/02/06/why-spotify-is-betting-big-on-podcasting/

Podcasting revenues hit $314 million in 2017, according to a third-party survey released last summer. It’s a large number for what’s been historically regarded as a niche and difficult to monetize medium, but still pales in comparison to the additional $400-$500 million Spotify says it’s willing to spend on the space this year alone.

Two major acquisitions announced early today already comprise a massive commitment to the category. The purchase of Gimlet was reported to have made up nearly half that figure, at $230 million. While no number has been revealed for the purchase of Anchor, Spotify no doubt paid a pretty penny for the buzzy creation/distribution platform, which has raised $14.4 million to date.