Spotify signs Bill Simmons to a new deal
'I've been in enough work situations at this point that you just kinda know when you're in the right spot,' Simmons said in the statement. 'I think all of us are motivated to do something pretty special in the talk and video space.'
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Simmons joined Spotify in 2020 when the streaming service purchased his company, the Ringer, for about $250 million. Chief Executive Officer Daniel Ek was expanding Spotify from music into new kinds of audio and spent more than $1 billion acquiring podcasting companies and the exclusive rights to hit shows like The Joe Rogan Experience and Call Her Daddy.
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The investment attracted tens of millions of listeners and turned Spotify into one of the most powerful audio platforms in podcasting.
Spotify also spent a lot of money on shows that didn't deliver a large audience and has since scaled back its investment. The founders of many of the companies Spotify acquired have since left, including Parcast's Max Cutler, Gimlet Media's Matt Lieber and Alex Blumberg and Anchor's Michael Mignano.
The Ringer stands out as one of Spotify's more successful acquisitions. The company makes several popular sports and pop-culture shows that cost very little to produce and have large audiences, including The Bill Simmons Podcast and The Rewatchables.
The Ringer continues to add new programs that broaden its portfolio, including Derek Thompson's current affairs show Plain English and a forthcoming podcast from actress Amy Poehler.
The Ringer is now rolling out video versions of many shows, including Simmons' podcast. Spotify hopes adding video will bring in more advertising dollars and increase the amount of time users spend in the app. It faces competition from YouTube.
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Spotify was among the top-performing media stocks last year, rising 138%. The shares have continued higher this year, fueled by better-than-expected subscriber growth and the company's first-ever annual profit.
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Against all odds, Rae has pulled off a rare pivot, trading a massive but unenthusiastic audience of passive social media scrollers for critical acclaim and a passionate niche of die-hard fans. As Walden Green wrote for Pitchfork, "Addison Rae has achieved something arguably more impressive than success: coolness." How did she do it? Act I: Flipping the script Rae is hardly the first celebrity to switch lanes, but the transition from TikToker to bona fide celebrity is particularly difficult — just ask Charli D'Amelio or Bella Poarch, both of whom boasted more followers than Rae in 2020, but have so far failed to parlay social-media fame into traditional Hollywood prestige. Lili Colwell, the vice president of digital at Night, a talent representation platform for online creators, said her clients face greater stigma when transitioning into a new discipline, as skeptics often assume that influencers are lazy trend hoppers, not creative forces in their own right. 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In May 2025, Rae only shared 12 videos on TikTok for the entire month, mostly to promote music videos that were painstakingly styled, shot, and edited — a far cry from the off-the-cuff, low-effort clips that defined her early days on the app. Now, if she's going to lip sync or dance, it's to her own songs. Taking a step back from algorithmic ubiquity not only gave Rae more control over her narrative but also added a crucial layer of mystique to her persona — a key element in transforming her reputation from regular Louisiana girl with a knack for nailing TikTok dances to an aspirational, slightly unknowable celebrity and artist. "She's releasing bits and pieces to intrigue the audience and make them want more," Goodwin said of Rae's current social media strategy. "She's actually now creating a story." Online and in interviews, Rae has managed to sell her rebrand as an earnest progression in her creative coming-of-age. 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She has been working to personify that character ever since, with every carefully selected public appearance, red carpet look, and new song revealing another layer of her new self-mythology. Sara Andréasson, cofounder of Michele Marie PR, told Business Insider that this strategy has created demand and curiosity. "She's no longer just an influencer making music — she's a pop artist who happens to come from an influencer background." Act II: Finding a backer During her TikTok reign, Rae told BI, "You are who you hang out with." Though she was speaking at the time about how close she was with her family, the statement has become a key tenet of the Rae Rebrand. Rae's music earned its first major stamp of approval from the alt-pop star Charli XCX, who, after hitting it off with Rae in a studio session, asked to contribute a verse to "2 Die 4," a ringtone-era throwback track that was included on Rae's 2023 EP "AR." Before Charli XCX had her major crossover moment in the summer of last year with the ubiquitous acid-green rollout of her album "Brat," the British singer was known as a platinum-selling songwriter for other artists and an ahead-of-the-curve pop prophet in her own right. Her interest in supporting and collaborating with Rae, whom she'd also recruit for the remix of her "Brat" single, "Von Dutch," around the same time, legitimized Rae's artistic pursuits. DJ Louie XIV, a music critic and host of the Pop Pantheon podcast, said he's "keen to ascribe agency" to Rae, even if it could seem like her fame has been propelled by her shrewd choice of collaborators. It's not that he believes Charli is pulling the strings — it's that he trusts her eye for talent. "Maybe I'm buying the hype," he told BI, "but I think if Charli sees something in her, that means something to me." Rae's connection to Charli introduced her to a wider audience, made her more chic by association, and staved off doubts about her staying power. As Brat Summer raged on, Rae took a page out of Charli's cool-girl playbook, crashing parties and smoking cigarettes with club kids, and winning respect from celebrated songwriters like Lorde and Lana Del Rey. To top it off, she generated buzz when she joined Charli onstage for surprise performances during the singer's tour stops at Madison Square Garden and Coachella, and cheekily announced her album release date via a pair of pink underwear while performing the "Aquamarine" remix with Arca at the festival. Act III: Dressing the part Having good style is relatively easy; making your fashion serve a narrative purpose is harder. Rae is largely focused on the latter, using her outfits to signal her new priorities. Gone are the Brandy Melville sweatpants and backward baseball caps that made her look laid-back and accessible, like the average girl at Erewhon. Instead, she's worked closely with Interview magazine fashion director Dara Allen to execute a series of looks that aren't simply pretty or well-fitted, but edgy, flamboyant, and evocative. Rae savvily uses her clothing to evoke movie stars and pop icons and project herself into that lineage, landing a series of indelible fashion moments, from her pap walk in a baby tee accessorized with Britney Spears' memoir to the white satin lingerie set she wore for her VMAs red carpet debut, which Vogue described as "'Swan Lake' meets Las Vegas showgirl." Andréasson, who has experience dressing A-list celebrities for events, said Rae's style evolution stands out for its use of surrealism and storytelling. Rae in 2021. Gotham/GC Images Rae in 2024. XNY/Star Max/GC Images "She does a great job avoiding the costumey elements of nostalgia and instead reinterprets it with modern tailoring and fresh beauty choices," Andréasson said. "Nostalgia only works when it's recontextualized, and Addison seems to understand that." In a media landscape where rewearing a historic Marilyn Monroe gown or recreating a memorable look from a '90s sitcom are easy ways to score headlines, Rae has avoided the plug-and-play approach. Her style may be full of references, but crucially, she doesn't mimic other celebrities or copy exact outfits. Instead, she prefers to arouse a broader feeling of familiarity. For example, Rae cited the 2006 friendship comedy "Aquamarine" as an inspiration for her song of the same name and her mermaid-inspired look for the 2024 CFDA Awards — not in terms of the movie's content or plot, but in how watching it made her feel. "I wanted to find what aquamarine meant to me," she said. Act IV: Living up to the hype Rae's flair for refracting nostalgia through her own original lens is evident in her new music as much as in her aesthetic. Her debut album "Addison" is full of dreamy, mid-tempo pop that flirts with its influences, from Madonna's "Ray of Light" and Björk's "Post" to Spears' "Blackout" and Del Rey's "Born to Die." As the tracklist dances between decades, genres, and moods, Rae's personal touch fills the gaps. This kaleidescopic technique isn't always radio-friendly, but Rae no longer seems to be aiming for immediate chart success (none of the album's five singles have yet cracked the Billboard Hot 100's top 40, with "Diet Pepsi" peaking the highest at No. 54). And why should she? If there's anyone who knows the drawbacks of an abrupt rise to fame without a sensible plan to sustain it, it's Rae. Instead, she and her team are executing a strategy that prioritizes artistic legitimacy and real staying power, something Rae hinted at in a recent interview with Elle. "I feel like I've surpassed Addison Rae," she said. "It's just Addison now." Going mononymous is a shorthand for prestige: think Madonna, Cher, Beyoncé. Rae hasn't earned that level of name recognition yet, but if her journey thus far is any indication, her ambition, marketing savvy, and willingness to play the long game are not to be underestimated — at least, not anymore. "Back in the '50s, people were discovered in Hollywood by sitting at a lunch counter on a stool. TikTok was her stool," Andréasson said. "It's going to fade away, and all of the new things that she's doing are what she's going to be known for. That's just going to be a postscript in the Addison story."
