Amazon to buy hit podcast producer Wondery

Amazon to buy hit podcast producer Wondery

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Washington: Amazon said on Wednesday that it has signed an agreement to acquire the popular podcast production company Wonderry, a move that has boosted the American technology giant’s efforts to improve its products from its music platform.

Wondery, which produces popular podcasts such as “Dirty John,” “Dr. Death,” and “The Shrink Next Door,” will be incorporated into Amazon Music, which is ramping up its efforts to compete with rivals like Spotify and began offering podcasts earlier this year.

“Together with Wondery, we will continue to bring more customers to streaming as we expand selection and ensure we are a destination for our customers to find, discover, and listen to the creators and artists they enjoy,” Amazon’s music team said in a blog post.

“Wondery is an innovative podcast publisher with a track record of creating and producing top-rated podcasts that entertain and educate listeners.”

The terms of the deal have not been disclosed, but reports this month stated that Wondery is seeking $300 million.

The deal, which has not yet been finalized, will allow Amazon Music subscribers to listen to Wondery podcasts through a variety of providers, an Amazon statement said.

Industry tracker Podtrac ranked Wondery as being the fourth most listened to podcast publisher in the US in November, with slightly more than 9 million people tuning in to audio programs it hosts.

In recent years, podcasts have become increasingly popular, and people have listened to fascinating real or scripted stories and interviews.

This move is accompanied by Amazon’s expansion in retail and streaming media, and it is increasingly being scrutinized by antitrust enforcement agents because it is increasingly dominant in key areas of the economy.

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