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 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