Tech giant Amazon has announced that the company has agreed to acquire Wondery, a podcast network known for producing shows like Blood Ties and Dying for Sex. So far, the company has not yet revealed the financial details of the deal.
However, a report from the Wall Street Journal hints that the deal could be worth around $300 million. If that turns out to be true, then it means that Amazon paid more to acquire Wondery than what Spotify paid to acquire Gimlet Media last year.
Commenting on the acquisition, the company said: “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. This is a pivotal moment to expand the Amazon Music offering beyond music as listener habits evolve.”
It’s noteworthy that even after the deal closes, it won’t change anything for Wondery listeners and they will still be able to listen to all of the network’s podcasts through any of the podcast app.
The acquisition from Amazon comes at a time when the music streaming competition is moving a step ahead and the companies are trying to get to the pole position when it comes to podcasts. The rising popularity of podcasts means that the streaming platforms could make money from their subscribers without having to purchase music licensing rights from levels.