Sources: Amazon is in exclusive talks to buy Wondery, in a deal valuing the podcast network at $300M+; Wondery's on track to increase revenue to $40M+ this year
Venture-backed podcast company is in talks to be sold with a valuation of more than $300 million
Wall Street Journal
Context & Ripple Effects
Wondery put itself on the block seeking a $300M-$400M sale, and the field narrowed fast: Apple and Sony each held talks while Spotify pulled out of the running. Exclusive talks with Amazon at a $300M-plus valuation land near the bottom of that range, with the network on track to grow revenue past $40M this year.
The destination matters as much as the price: per the related coverage, Wondery is set to join Amazon Music, turning an independent venture-backed studio into exclusive inventory inside Amazon's audio service.
First-order effects
Wondery's shows move under Amazon Music, giving Amazon a differentiated catalog while Apple and Sony — both of which held earlier talks — are left without the asset they pursued.
Second-order effects
Apple and Sony now face a thinner supply of scaled, ad-supported podcast studios, pushing them toward building in-house or paying up for whatever networks remain independent.
Third-order effects
If platform owners keep absorbing the largest independent networks, podcasting structurally shifts from open distribution to exclusive, platform-owned content — raising entry costs for any buyer that arrives late.
The trend: Audio streaming platforms are consolidating podcast production through acquisition, converting independent studios into exclusive catalog as the differentiator.
Amazon is in exclusive talks to buy podcast startup Wondery, people familiar with the matter say, furthering its push into the growing audio sector https://www.wsj.com/...
Yet another acquisition in the podcasting space: Amazon to buy Wondery. https://www.wsj.com/... Value of “over $300m”, v. Wondery's 2020 revs of “over $40m”. 7.5x PSR. #BOOM's 2020 revs: $26m. A 7.5x PSR buyout would equate to 933p. Current SP: 190p. Patience will prevail. https:…
So is Amazon now going to be the second gorilla bidder on all these podcast assets, making them much more expensive for Spotify? https://www.wsj.com/...
Today I learned, Slack is worth 100 Wonderys, Wondery is worth about 6 Serials. But if Wondery had 1 Serial, it'd probably be valued around 20 Serials https://www.wsj.com/...
Amazon in exclusive talks to acquire Wondery. Not exactly sure how they integrate into their audio strategy, which are fairly new and very fragmented. But it makes sense as an IP source for original video content, which was always the appeal. https://www.wsj.com/...
Amazon is also eyeing podcast acquisitions now. It is in exclusive talks to purchase podcast startup Wondery in a deal valuing the firm at $300M, a 3x jump from its previous valuation of $100M last year https://www.wsj.com/...
Exclusive: https://amazon.com/ is in exclusive talks to purchase podcast startup Wondery, according to people familiar with the matter, as the tech giant pushes further into the growing digital audio sector. Scoop from @BenMullin & @AnneMarieSteele https://www.wsj.com/...