The Spotify music streaming service bursts into the podcast industry.

Today, the firm declared that it had obtained Gimlet Media, creator of the well-known podcasts “Reply All” and Crimetown, and that it has plans for the next steps.

Podcasts have been available on the service since 2015, but the business was not particularly engaged in their production or monetization. Acquiring Gimlet with Anchor, a podcast creator, enables the firm to become part of the growing podcast industry.

Service entry into the world of podcasts occurs when the corporation continues to make its business. The platform is the most well-known streaming service in the world, but it competes with the technical titans Apple and Amazon, each of which has competing services.

Today, the organization declared its first quarterly profit, receiving about $ 96 million of total sales of $ 1.7 billion. She also declared that she now has 96 million paid subscribers.

This total income was below Wall Street expectations. Service shares declined 5.3 percent in presale trading.