Although the company is late to the game, Amazon is joining the podcasting competition by acquiring Wondery, the podcasting network that brought you the hit true-crime series “Dr. Death” and “Dirty John”. This past Wednesday, Wondery signed an agreement to join Amazon Music, which will greatly expand the e-commerce giant’s audio content offerings.
Amazon already owns Audible, which supplies customers with digital audiobooks and offers a range of content from classic to new releases and original content. In September 2020, Amazon Music added podcasts for customers across the U.S., U.K., Germany, and Japan.
By adding Wondery, the company said in a statement it hopes 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.”
Financial terms for the acquisition haven’t been disclosed yet, but The Wall Street Journal reports the deal is roughly valued at $300 million. And, the company says “nothing will change for listeners” when the deal closes. Also, Wondery podcasts will still be available through a variety of providers.
The podcasting market has become increasingly competitive as more listeners are turning to podcasts for news information and entertainment. The New York Times reported that about one out of every four Americans listened to at least one podcast every month in 2018. At the beginning of 2019, that number increased to one out of every three Americans.
With an increase in popularity, media companies are trying to make sure they stand out in the podcasting market so they don’t get left behind. Last year, SiriusXM completed its acquisition of Stitcher. Spotify has a few podcasts under its belt like the Ringer and Megaphone. The New York Times announced it would acquire Serial Productions.
By purchasing Wondery, Amazon is making sure it catches up and remains in the podcasting game. “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 said.
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