Spotify paid nearly $340 million to acquire podcast producer Gimlet Media and services provider Anchor in deals disclosed to the Securities and Exchange Commission last month, prompting analysts to start considering what this all meant for the industry.

The growth of podcasts in recent years has taken on a life of its own, with a wide variety of media organizations pouring resources into the creation of such content in an attempt to target a younger demographic.

Spotify’s investment in the industry underlines just how serious such content is being viewed abroad.