NEW YORK • Spotify, the world's leading music streaming platform, on Wednesday announced an ambitious plan to become a top streamer of podcast content.

The Sweden-based company plans to invest US$500 million (S$679 million) on non-music streaming this year, seeking to dominate its listener base by scooping up American podcasting companies Gimlet Media and Anchor.

Spotify already boasts a presence in podcasting, having acquired shows from actress and comedian Amy Schumer and rapper Joe Budden.

By snagging Gimlet - the New York-based narrative podcasting company founded in 2014 - along with Anchor, a platform to create, distribute and monetise podcasts, the company aims to "meaningfully accelerate our path to becoming the world's leading audio platform" and "give users around the world access to the best podcast content", its chief executive officer Daniel Ek said in a statement.

Spotify did not specify the cost of acquiring the podcasting companies, but said it would invest between US$400 million and US$500 million this year for multiple acquisitions.

The platform also announced in Wednesday's quarterly results that it had 96 million paying subscribers at the end of December, 36 per cent more than at 2017's close. The growth is largely related to positive results from the company's partnership with Google Home as well as its promotional holiday campaign.

Including those who use the platform's free option that includes advertising, Spotify claims 207 million monthly active users.

The platform generated sales of €1.5 billion for the quarter, up 30 per cent year on year, while its net profit totalled €442 million.

Spotify, founded in 2005, saw a net loss of €78 million last year, however, and an operating loss of €43 million. This year, the company will likely remain in the red: It anticipates an operating loss between €200 million and €360 million.

Shortly after opening trades on the New York Stock Exchange, the company's stock had dipped about 5 per cent.

AGENCE FRANCE-PRESSE