E-commerce giant Amazon is in an expansion mode. The company is planning to expand its podcast footprint. It has announced to acquire a monetization firm. The firm is Art19. It is a podcast hosting and monetization company. Amazon didn’t reveal the amount it paid to acquire Art19. The company said that Art19 will help in expanding podcast offerings and serve customers’ needs. Besides hosting podcasts, the company also operates an advertising marketplace. It lets companies accurately place ads within shows to reach target audiences. Amazon is hopeful that the deal will give a push to its effort to host podcasts. Also, it will increase the sell ads, thus generating revenues.
The deal is also an indication that Amazon is serious about bringing podcasts. Amazon is one of the big five IT companies in the US. The company had earlier offered podcasts in September 2020 on Amazon Music. Under the new deal, Art19 will join Amazon Music. It will enable podcast creators to monetize their work. Also, it will help them in managing and distributing their work to meet the podcasting needs of customers. Amazon has already acquired Wondery. It is a startup and popular for being behind many podcasts. It is best known for The Shrink Next Door and Dirty John.
The podcasting industry today has many big players. Apple was once a market leader. But it faced tough competition from Spotify and other rivals. Spotify made its position firm in the market and is a leader today. According to market forecasts, Spotify could overtake Apple Podcasts by the end of this year. Apple has just launched a premium podcast subscription. It allows listeners to support creators directly. Spotify too has launched a similar subscription on the platform. Amazon now seems to be on the same path as it aims to get a hold on the market by bringing podcasts. The podcasting business today is not just restricted to exclusive content, but it is about who can sell and monetize content to contribute to the company’s revenue.