We’ve asked Spotify if it can comment.

There’s no mystery as to why Spotify might buy The Ringer. As with earlier deals, this could entice more listeners to use Spotify and, theoretically, entice some to subscribe. The podcasts themselves could be lucrative. The Ringer is believed to have made $15 million through its podcasts in 2018 alone. Whatever Spotify spent to buy The Ringer might be recouped before long.