A source told Bloomberg that the upfront price tag for The Ringer was nearly $200 million. That will be followed at a later date by another $50 million. The source was not named since the terms of the deal are not public, but with Spotify now trading as a public company, the full provisions of the purchase will be revealed in filings.
The Ringer acquisition means Spotify has spent more than $600 million on four podcast companies. Most of those — The Ringer, Gimlet Media, and Parcast — create their own podcast content, while Anchor is a tools and technology company.
Spotify announced its purchase of The Ringer on the same day as its fourth-quarter earnings. The company reported that it now has 124 million global subscribers and made revenue of €1.855 billion ($2.04 billion).