Amazon has announced it agreed to buy Wondery, one of the largest independent podcast networks and producers in the US.
Neither company disclosed the terms of the deal, but The Wall Street Journal recently suggested Amazon paid about $300 million for the podcast studio.
Wondery is known for producing hit shows such as Blood Ties and Dying for Sex. It could, therefore, help Amazon Music to better compete with Spotify, which acquired Gimlet Media, another podcast production company, for a reported $200 million two years ago. In a statement announcing the deal, Amazon said Amazon Music launched podcasts in September 2020, and Wondery should help "accelerate the growth and evolution" of its podcast efforts.
It specifically thinks Wondery can do this by "bringing creators, hosts, and immersive experiences to even more listeners across the globe". Amazon also described its Wondery acquisition as a "pivotal moment" strategically designed to expand Amazon Music "beyond music" - especially as "listener habits evolve".
Amazon didn’t announce when the deal will close, but it noted, when the deal does close, that nothing will change for listeners. They’ll continue to be able to access Wondery podcasts. "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," Amazon added in its statement.
In other words, Spotify better best watch its back, or at least ramp up more Gimlet productions.
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