Apple Held Acquisition Talks With Podcast Network Wondery
Apple has held talks with podcast network Wondery about a potential acquisition, reports Bloomberg. Wondery is responsible for popular podcasts that include "Dirty John" and "Dr. Death," among others.
Wondery is looking for $300 to $400 million and has also held talks with Sony Music Entertainment and other companies, though Spotify is said to be "out of the running." At that price point, Bloomberg says that it would mark one of the largest deals in the podcasting market.
A deal is expected to be established in the coming months, but it's not yet clear if Apple will go through with the purchase as things are still in the discussion stage. Wondery has a monthly audience of more than eight million people, which would be a major score for Apple as it aims to ramp up its podcasting efforts.
A Wondery purchase would provide Apple with a library of original content along with a source for ideas that could eventually be turned into television shows. Wondery is already working on TV shows based on podcasts, including a WeWork series that's going to premiere on Apple TV+.
Rumors this year have suggested Apple is looking to buy exclusive original podcasts to better compete with Spotify's podcast offerings. Apple has specifically been seeking podcasts that could eventually be adapted into future TV+ content, and it plans to create podcasts that will augment its TV shows.
Apple competitor Spotify has been focusing heavily on podcasts and has purchased Gimlet Media, known for podcasts like "Reply All" and "Homecoming." Apple has long been a leader in the podcasting sphere thanks to the Podcasts app, which it has been improving in recent years, but Spotify has been making inroads in podcasting.
Apple has already purchased a couple of podcasting companies. In 2017, it bought Pop Up Archive to improve search, and in early 2020, it bought podcasting service Scout FM, designed to turn podcast shows into radio-style stations.
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