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Beyonce's music label Sony bets its next big hit will be a podcast

Record labels have seldom strayed from their business of identifying and developing new musicians

Sony
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Sony’s music division and its peers have become even more interested as Spotify Technology SA, their biggest partner, has invested hundreds of millions in the industry

Bloomberg
Sony Music discovered Alicia Keys, Lil Nas X and Beyoncé. Its next big hit may be a podcast.

The world’s second-largest music company plans to release nearly 40 podcasts this year and is developing more than 100 original programs, according to a statement Wednesday. Through five joint ventures, Sony Music has already released shows such as Morally Indefensible, as well as the true-crime program Smokescreen: Fake Priest.

That slate of shows represents the biggest investment in podcasting to-date by a major music label, according to Dennis Kooker, the global head of Sony Music’s digital business. Kooker is eager to cash in on