Amazon signs deal to acquire popular podcast producer Wondery

Amazon signs deal to acquire popular podcast producer Wondery

Amazon said Wednesday that it signed an agreement to acquire the successful podcast production firm Wondery, in a move that boosts the US tech giant’s efforts to complete its offerings from its music platform.

Wonderful, which produces popular podcasts such as Dirty John, Dr Death, and The Shrink Next Door, will join Amazon Music, which is intensifying its efforts to compete with rivals such as Spotify and began offering podcasts earlier this year.

“Together with Wondery, we will continue to attract more customers to broadcast as we expand the selection and make sure to be a destination for our customers to find, discover and listen to the creators and artists they enjoy.” From Amazon, the stereo said in a blog post.

“Wondery is an innovative podcast editor with a history of creating and producing world-class podcasts that entertain and educate listeners.”

Terms of the deal were not disclosed, but reports this month said Wondery was seeking $ 300 million (roughly Rs. 2,200 crores).

The agreement, which has yet to be finalized, will allow Amazon Music subscribers to listen to Wondery podcasts through a variety of providers, according to a statement from Amazon.

Industry tracker Podtrac ranked Wondery the fourth most listened to podcast publisher in the US in November, with just over 9 million people tuning in to the audio shows it hosts.

Podcasts have grown in popularity in recent years, and people tune in to hear compelling scripted or real stories, as well as interviews.

The move comes with Amazon facing heightened scrutiny from antitrust authorities for its growing dominance over key sectors of the economy as it expands into retail and streaming media.

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