Spotify Technology S.A. (NYSE:SPOT), the world's most popular audio streaming subscription service, today announced that the company has entered into a definitive agreement to acquire The Ringer, a leading creator of sports, entertainment and pop culture content. The Ringer was founded by Bill Simmons in 2016. Terms of the transaction were not disclosed.
With this acquisition, Spotify continues to deliver against its goal to become the world's leading audio platform. The Ringer will bring to Spotify its industry leading sports and entertainment team, podcast catalog and website, further expanding Spotify's content offering and audience reach. With its popular show lineup, The Ringer also offers new opportunities for monetization along with a continued focus on deepening audience engagement and innovating formats within Spotify's business model. Not only has Simmons been a podcast pioneer in sports, he has also been a dominant force in the podcast pop culture arena.