Amazon also wants to enter the podcast market

Amazon also wants to enter the podcast market

The giant has announced the purchase of the startup Wondery. The $ 300 million transaction will lead Amazon to compete with industry record holders such as Spotify and Apple

Wondery is in talks with Amazon (photo: Wondery) After music, Amazon also wants to grow in the world of podcasts. The ecommerce giant has announced that it has closed the agreement for the acquisition of the Wondery network, which produces innovative audio content and is famous in the United States especially for the crime series Dirty John and other programs such as Dr. Death and Business Wars. The two companies did not disclose the extent of the agreement, but Amazon's interest in this operation was already known at the beginning of December, when there was talk of a market valuation of the company of about 300 million dollars.

Furthermore, according to what we read on Bloomberg, Wondery was recently approached by other illustrious potential buyers such as Apple and Sony, proving the importance of the podcast platform, among the main producers in the world. The platform, founded in 2016 by Hernan Lopez, is also owned by 20th Century Fox and has approximately 10 million unique users every month.

Under the agreement entered into with Amazon, audio content produced by Wondery will now go above all to increase the offer of Amazon Music, which launched podcast support starting from September of this year.

Reference is not made to the Audible service, the subscription-based platform that Amazon has decided to devote to audiobooks and original audio content, and which according to Statista is in sixth place of the most used apps in the United States for listening to podcasts with a market share of 10%. The sector is currently dominated by Spotify and Apple podcasts, respectively in first and second position with 25% and 20% of the market.

In addition, Amazon already competes with the two companies in the music streaming sector, where its Amazon Music service ranks third in the world among the platforms behind Spotify and Apple Music.

With this agreement, therefore, the ecommerce giant wants to consolidate its position to further challenge Spotify and Apple also in the field of podcasts, a sector that according to estimates is destined to reach a value of 41.8 billion dollars in 2026, with an annual growth rate of 24.6%, according to data released by Business Wire.

Furthermore, as proof of the increasing importance of this sector for the financial statements of companies, Spotify last month it announced the acquisition of the Megaphone company, which specializes in podcast advertising, for an investment of $ 235 million.

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Amazon Apple Music podcasts Spotify startup globalData.fldTopic = "Amazon, Apple, Music, podcasts, Spotify, startup"

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