Amazon makes huge investment to enter the podcast industry


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Amazon makes huge investment to enter the podcast industry

Amazon, one of the largest companies in the information technology industry, rivaled Spotify by purchasing Wondery, the sixth-largest podcast publisher in the United States.

Technology giant Amazon also took an important step by incorporating Wondery, the podcast network established in 2016 to enter the podcast industry. It was announced today that the deal was completed on both the Amazon front and the Wondery front.

Amazon has yet to disclose the price it purchased for Wondery, but Bloomberg had previously suggested that Wondery was worth at least $ 300 million. If Amazon buys Wondery for $ 300 million specified by Bloomberg; this will be the biggest acquisition in the podcast industry.

Wondery, which is the sixth largest podcast publisher in the USA with 8 million listeners, is currently worth $ 40 million. 75% of this amount consists of advertisements, while 25% consists of license revenues. It is thought that the value of Wondery after its acquisition of Amazon will increase exponentially and reach more users.

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