Spotify forks out $295M for Findaway, Podsights, Chartable and Sonantic, filing reveals
Spotify has quietly announced how much it's paying for four of its recent acquisitions, revealing that it's doling out a combined €291 million ($295 million) for Findaway, Podsights, Chartable and Sonantic.
In an updated SEC document filed after its official earnings report yesterday, the audio-streaming giant confirmed that it will pay €117 million in cash for Findaway, a digital audiobook distributor it first announced plans to acquire back in November. Separately, Spotify also revealed that it's paying €83 million in cash for Podsights and Chartable, two companies that it confirmed in February it was buying to support its podcast measurement and analytics capabilities.
However, Spotify also revealed that there may be extra cash payments of €21 million in the future, that depend on the continued employment of "certain employees."
Elsewhere, Spotify last month confirmed that it was buying Sonantic, and AI voice platform that was used to simulate Val Kilmer’s voice in the recent Top Gun sequel. That deal will set Spotify back €91 million in cash.
It's worth noting that Spotify has made a number of additional acquisitions in recent times, including the Worldle-inspired music guessing game Heardle, though a figure hasn't been revealed for now -- presumably because the deal was only revealed after the most recent accounting period, which ran until the end of June. Spotify also acquired podcast tech company Whooshka back in December, but there is no word on how much that deal amounted to.
If nothing else, these various procurements reveal that Spotify is showing little sign of slowing in its push to be an all-singing, dancing audio juggernaut, having already spent hundreds of millions of dollars acquiring the content and technology to make it the go-to platform for music, podcasts, and -- as its recent Findaway deal shows -- audiobooks.