Amazon Purchases Vandy as Podcasting Race Continues

Amazon is acquiring Wonderai, the company behind podcasts like “Dirty John”. The race to grab parts of the audio market continues.

The deal, announced on Wednesday, is the latest stipulation that media companies are placing exclusively on audio – podcasts – as they discover For new ways to differentiate yourself In An increasingly crowded streaming video market.

The deal Wonder started in 2016, which was about $ 300 million, with one person briefed on the case. The man spoke on condition of anonymity as the terms of the deal were not disclosed.

Amazon described the Wonder Deal as “an expanding moment of music that develops listener habits to present Amazon music offerings beyond music.”

Podcast is exploding with popularity About a third of americans In early 2019 it was said that they listen to at least one monthly. They offer media companies a rapidly evolving medium and when they have the opportunity to build their offerings without having to go through powerful interests such as licensing films music, and publishers and labels when licensing studios.

Attempts to turn podcasting into its own celebrity universe have attracted the likes of Meghan Markle and Prince Harry. A former Fox executive, founder of Wonder, Hernan Lopez, has again added his treatment to Hollywood podcasts with tag lines, trailers and billboards. “Dr. Death” is sure to happen Developed into a television series On Peacock Streaming Service of NBCUniversal.

Mr lopez Told the New York Times last year He said that “was set to create a company that could work on both television and production as well as marketing and production, as well as marketing and marketing podcasting.”

According to an Amazon spokesperson, the deal with Amazon closes, and Jane Sargent, chief operating officer of Wonder, Mr. Lopez will step down as chief executive officer. In april, Mr. Lopez pleaded not guilty Federal fee Accusing When he was an executive at Fox Sports, bribing football officials in South America in exchange for broadcasting rights.

An Amazon spokesperson said that while an Amazon spokesperson said there would be “no forecast”, it would say it was subject to “customary closing conditions”.

The Times announced an agreement this year Serial production acquisitionThe company behind the hit podcast “Serial”. Spotify has announced a string of deals to expand beyond its streaming music business, including one Acquisition of ringer, A podcast company started by former ESPN journalist Bill Simmons. The deal is worth about $ 250 million.

Investment Bank Lintree acted as financial advisor to Vandy.

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