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One, three. From Wondry, I'm David Brown, and this is Business Wars Daily on this April 12.

Happy Friday, one and all.

Remember the old days when the name Spotify was synonymous with music?

Ah, such a simple time. In 2015, roughly nine years after its founding, Spotify began chasing the latest innovation in media.

You know what I'm talking here? Podcasts, right? In 2019, it shelled out nearly $340 million to pick up two podcast production companies,

Gimlet and Anchor.

While Spotify rose in the ranks of podcasting, it's now home to arguably the world's most popular podcast by a certain Joe Rogan.

Its quest to dominate the global podcasting market did have some challenges.

Its acquisition of Gimlet was marred with layoffs and cancellations, and in

2023 it laid off 200 more folks and combined what was left of its acquisitions into a

single podcasting arm. While those moves made waves, and not altogether positive ones with

...