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Homechevron_rightTechnologychevron_rightAmazon acquires...

Amazon acquires Wondery, setting itself up to compete against Spotify

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Amazon acquires Wondery, setting itself up to compete against Spotify
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San Francisco: E-commerce giant Amazon has acquired podcast publisher Wondery, one of the last major independent podcast networks, for an undisclosed sum.According to a Verge report,the move is to take on Swedish music streaming giant Spotify.

Amazon said that the deal is yet to be finalised and nothing is changing for the listeners. Wondery would be part of Amazon Music, which launched podcast support in September.

"Amazon Music launched podcasts in September 2020, and together with Wondery, we hope to accelerate the growth and evolution of podcasts by bringing creators, hosts, and immersive experiences to even more listeners across the globe, just as we do with music," Amazon said in a statement late on Wednesday.

Wondery is an innovative podcast publisher with a track record of creating and producing top-rated podcasts that entertain and educate listeners, including "Dirty John," "Dr. Death," "Business Wars," and "The Shrink Next Door."

With Amazon Music, Wondery will be able to "provide even more high-quality, innovative content and continue their mission of bringing a world of entertainment and knowledge to their audiences, wherever they listen".

The company aims to expand Amazon Music beyond offering music.

"Our focus on high-quality audio with the Amazon Music HD tier, and our recent partnership with Twitch to bring live streaming into the app, make Amazon Music a premiere destination for creators," the company further said.

Wondery CEO Hernan Lopez will step down and leave the company when the deal is finalised and COO Jen Sargent will take over, according to media reports.

Earlier reports from Bloomberg and Wall Street Journal suggests that Wondery's value was at least $300 million. Earlier Apple and Sony were also reported to have at least discussed a possible purchase of Wondery

(From IANS with edits)

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TAGS:amazon Wondery Spotify Tech Updates 
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