Spotify retains Bill Simmons as it pivots to video-driven, lower-cost podcast content

The news: Bill Simmons has signed a new contract with Spotify, renewing his role as head of talk strategy for at least two more years. Simmons will continue hosting “The Bill Simmons Podcast” and report to Roman Wasenmüller, the newly appointed head of Spotify’s podcast business, according to Bloomberg.

• Speculation that Simmons might depart had been growing, particularly as Spotify cut back on podcasting investments following its $1 billion spending spree on acquisitions, including Gimlet Media, Parcast, Anchor, and Simmons’ The Ringer. Simmons’ continued leadership signals confidence in The Ringer’s performance and Spotify’s evolving video strategy.
• Spotify originally acquired The Ringer in 2020 for $250 million. The platform now produces over 50 podcasts and more than 100 hours of weekly content, covering sports, pop culture, politics, and technology, according to Variety.