#To buy podcast maker wondery series
#To buy podcast maker wondery tv

The online retail giant has been investing heavily in recent years to expand the division. The five-year-old company has built a name for itself with. The Wondery acquisition could help accelerate Amazon’s growth plans for its entertainment business, which operates in multiple markets spanning music, audio books and video. Amazon is expanding on its digital content catalog with the acquisition of podcast maker Wondery. Apple was in September reported to have acquired Scout FM, a podcast aggregation and recommendation service, while Spotify bought podcast studio Gimlet in 2019. However, the company stressed in a statement that “nothing will change for listeners, and they’ll continue to be able to access Wondery podcasts through a variety of providers.”Īmazon’s top rivals in the music streaming segment have also used acquisitions to help them more effectively target the podcast market. The latter business is said to account for about three-quarters of the startup’s revenue.Īmazon plans to integrate Wondery into its Amazon Music subscription-based music streaming service. According to the Journal, Wondery was expecting to generate about $40 million in sales this year from a combination of podcast licensing fees and advertising. The acquisition will buy Amazon not only Wondery’s sizable listener base but also a new revenue stream for its entertainment business.

#To buy podcast maker wondery series

The startup has published a series of hit podcasts spanning multiple genres, one of which was turned into a series by the Bravo television network. Wondery, based in Los Angeles, launched in 2016 with backing from Disney Co. As part of the deal, Wondery will join Amazon Music, the e-commerce giant’s music streaming business. and Sony Corp.’s music publishing arm also expressed interest in Wondery, which may explain why its valuation rose so sharply during the acquisition talks. 1 minute read Amazon Echo Dot speaker CNBC Richard Washington Amazon announced Wednesday that it’s acquiring podcasting company Wondery, expanding its catalog of original audio content. An earlier Bloomberg report indicated that Apple Inc. But the Wall Street Journal reported recently that Wondery was valued at north of $300 million during the acquisition talks, more than triple the valuation the startup is said to have received after its most recent funding round. The deal will strengthen Amazon’s entertainment business, in which the online retail giant has invested billions of dollars in recent years to win more subscribers.Īmazon didn’t say how much it’s paying for Wondery. today said that it has signed a deal to buy Wondery Inc., a venture-backed podcast startup with a reported audience of 20 million monthly listeners. The company was valued at $100 million in July Inc. The talks valued Wondery at over $300 million, according to the publication. The Wall Street Journal reported on December 2 that Amazon was in talks to buy the podcast maker. The Los Angeles Times reported on Wednesday that Lopez will leave Wondery after the deal closes and the company’s Chief Operating Officer Jen Sargent will take over the leadership team.

#To buy podcast maker wondery tv

“When the deal closes, nothing will change for listeners, and they’ll continue to be able to access Wondery podcasts through a variety of providers,” Amazon said in a statement.Įarlier in 2020, Wondery CEO Chief Executive Hernan Lopez was charged with wire fraud and money laundering alongside two former FOX TV executives. A Wondery spokesperson did not return a request for comment.Īmazon noted in its announcement of the deal that Wondery’s podcasts would continue to be available on platforms outside of Amazon Music. It is unclear how the deal could impact future film and television adaptations of Wondery’s podcasts. Amazon Starts Licensing Originals: Netflix, Your Move