Question: Hey, can you please help me out with this question? In May last year, Spotify announced that it had signed a deal with The Joe

Hey, can you please help me out with this question?

In May last year, Spotify announced that it had signed a deal withThe Joe Rogan Experiencepodcast to provide the podcast exclusively on their platform. The deal was reportedly the biggest deal ever for a single podcast, costing Spotify more than US$100 million. Along with several other podcast acquisitions, including Gimlet Media and Anchor, Spotify has spent close to US$1 billion onpodcast related acquisitions and productionin the past two years.

Why is Spotify spending so much on podcasts? What market changes is Spotify hoping to achieve by spending big on podcasting? Do you think this is a good move by Spotify?

(Please keep around one hundred words)

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