Photo: Spotify

Spotify announced Wednesday that it acquired podcast production company Gimlet Media and short-form podcasting app Anchor. The announcement came in conjunction with its 2018 Q4 earnings release, and acquisition terms were not disclosed though Recode reported a price tag of more than $200 million for Gimlet Media last week.

Why it matters: Spotify made its name as an online music streaming service, but has long supported other audio content — like podcasts — as well. These acquisitions should help bolster its capabilities to produce high-end content in-house, as well as provide better tools to creators to give it an edge over competitors like Apple. Spotify also disclosed it's budgeting $400-500 million on more podcast-related acquisitions in 2019.

Go deeper: Check out Axios' Pro Rata Podcast, featuring Dan Primack

Go deeper

Caitlin Owens, author of Vitals
30 mins ago - Health

The coronavirus is starting to crush some hospitals

Illustration: Aïda Amer/Axios

Some states are seeing dangerous levels of coronavirus hospitalizations, with hospitals warning that they could soon become overwhelmed if no action is taken to slow the spread.

Why it matters: Patients can only receive good care if there's enough care to go around — which is one reason why the death rate was so much higher in the spring, some experts say.

Scoop: The Lincoln Project is becoming a media business

Illustration: Eniola Odetunde/Axios

The Lincoln Project is looking to beef up its media business after the election, sources tell Axios.

Driving the news: The group recently signed with the United Talent Agency (UTA) to help build out Lincoln Media and is weighing offers from different television studios, podcast networks and book publishers.

Trump, Biden strategies revealed in final ad push

Data: Bully Pulpit Interactive; Chart: Danielle Alberti/Axios

President Trump is pouring hundreds of thousands of dollars into Facebook ads on the Supreme Court and conservative judges in the final stretch of his campaign, while Joe Biden is spending over a million on voter mobilization, according to an analysis by Axios using data from Bully Pulpit Interactive.

The big picture: Trump's Facebook ad messaging has fluctuated dramatically in conjunction with the news cycle throughout his campaign, while Biden's messaging has been much more consistent, focusing primarily on health care and the economy.