The Spotify podcast audience is growing enormously, the company showed income report today. The company reports that its podcast audience has grown by more than 50 percent since the last quarter and that it has almost doubled since the beginning of the year. The company also saw the number of subscribers in general grow, with a total number of premium subscribers of 9 percent to 108 million compared to the last quarter, and monthly active users growing to 232 million, an increase of 7 percent.
The growth in podcast activities suggests that Spotify's investment is starting to pay off. Earlier this year, the company acquired the Gimlet Media and Anchor podcasting network, which produces tools that allow creators to build, publish, and earn money from podcasts. The following month it acquired Parcast, another podcast network, before concluding a deal with the Obamas production company in June. At the time of the acquisition of Gimlet, the company said it was expected to invest up to $ 500 million in its podcasting activities, with company CEO Daniel Ek predicting that 20 percent of all listeners on the platform would eventually come from podcasts.