Amazon Acquires Independent Podcast Network Wondery
Gearing up Amazon Music to compete with Spotify.
After speculation of Apple and Sony‘s interest in Wondery (Dr. Death, Dirty John, Business Wars and The Shrink Next Door) — one of the last remaining major independent podcast networks — Amazon has now emerged with an announcement of an acquisition deal in order to incorporate the service into Amazon Music.
The tech giant hasn’t disclosed a purchase price for the deal, although previous reports place Wondery’s valuation at around $300 million USD. Once the deal goes through, the podcast network’s current CEO Hernan Lopez will be stepping down, with COO Jen Sargent taking over the position.
“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,” a statement from the company reads. “This is a pivotal moment to expand the Amazon Music offering beyond music as listener habits evolve.”
Elsewhere in business-related news, Apple has closed its stores in California amid rising COVID-19 cases.
