Spotify unveils 155k sf podcasting hub in Arts District

Complex includes studios, listening rooms, performance spaces

Los Angeles /
Dec.December 20, 2021 11:47 AM
Spotify unveils 155k sf podcasting hub in Arts District
Dawn Ostroff (Twitter via Dawn Ostroff, Life at Spotify)

Spotify has unveiled a sprawling office and podcasting complex in Downtown Los Angeles’ Arts District.

The center at 555 Mateo Street includes 18 podcast studios, a theater, an indoor stage and soundproof listening areas, according to the L.A. Times. It can accommodate 600 employees.

The company plans to centralize its podcasting business at the complex, and hopes the sleek new podcasting facilities will help attract talent.

The property is owned by a joint venture of Blatteis & Schnur and ASB Real Estate Investments and known as At Mateo. Sweden-based Podcast moved from West Hollywood to the Arts District in 2018 and has been building out its space there since then,
Spotify’s West Hollywood space was just 8,200 square feet.

The company signed a 10-year deal for 110,000 square feet in mid-2018 and added another 45,000 square feet about a year later.

The expansion came around the same time Spotify rebranded from a primarily music streaming service to an “audio platform” with a major focus on podcasting.

The company bought out podcast publisher Gimlet Media and then podcast ad company Megaphone. Between February and September 2019, the number of podcasts available on the platform more than doubled from 185,000 to 450,000.

Spotify released 108 new and exclusive podcast series in the third quarter of this year. Unlike any of the music on the platform, Spotify owns those shows. It is slated to count more monthly U.S. podcast listeners by the end of the year than Apple Podcasts.

Spotify earlier this year launched a live audio chat room service to compete with Clubhouse and announced in November it would buy audiobook business Findaway to compete with Audible.

At Mateo was originally conceived as a retail-heavy complex, but the developers changed those plans in 2017. The complex is now mostly office space. Soylent and the University of Southern California’s design school are also tenants at the complex.

[LAT] — Dennis Lynch 





    Related Articles

    arrow_forward_ios
     1933 South Broadway (Loopnet, iStock)
    Ara Tavitian scores $150M refi on The Reef in DTLA
    Ara Tavitian scores $150M refi on The Reef in DTLA
    GI Partners' Rick Magnuson and One Wilshire (GI Partners, One Wilshire)
    Here’s how much tenants are paying at One Wilshire in DTLA
    Here’s how much tenants are paying at One Wilshire in DTLA
    Coretrust Capital Partners' Thomas Ricci, Randall Scott and John Sischo; 444 S. Flower Street, Los Angeles (444 South Flower, iStock, Coretrust Capital Partners)
    Coretrust leases 44K sf of offices to law firms in DTLA
    Coretrust leases 44K sf of offices to law firms in DTLA
    Kilroy Realty CEO John Kilroy (Getty, Kilroy Realty)
    Kilroy Realty sees jump in profit despite dip in leases
    Kilroy Realty sees jump in profit despite dip in leases
    Vernon Mayor Leticia Lopez (iStock, City of Vernon)
    Industrial burg of Vernon to make way for housing
    Industrial burg of Vernon to make way for housing
    Hudson Pacific’s Chris Pearson and CBRE’s Lewis Horne (Hudson Pacific, CBRE, iStock)
    Hudson Pacific, CBRE eye West Coast hubs with impact fund for women, ethnic minorities
    Hudson Pacific, CBRE eye West Coast hubs with impact fund for women, ethnic minorities
    From left: Greg Campbell, founding principal, Laguna Point Properties; David Olney, CEO, Berkshire Residential Investments, in front of 548 South Spring Street and 215 West 6th Street (Google Maps, Berkshire Residential Investments, Laguna Point Properties)
    OC buyer gets more than 1,000 DTLA apartments
    OC buyer gets more than 1,000 DTLA apartments
    L.A. Alliance for Human Rights' Elizabeth Mitchell (Getty, L.A. Alliance for Human Rights)
    L.A. Alliance doubles down on federal lawsuit over homelessness solution
    L.A. Alliance doubles down on federal lawsuit over homelessness solution
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...