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Amazon signed an $80 million deal with Dax Shepard and the Armchair Expert podcasts, hoping to make the podcast ad business much bigger.
Spotify (SPOT -4.21%) has built the leading podcast business with its audio platform, creative tools, and advertising network, but Amazon (AMZN -1.44%) is trying to get into the game. An $80 million deal with Dax Shepard shows the company's interest in becoming a player in podcast advertising, which Travis Hoium covers in this video.
*Stock prices used were end-of-day prices of July 13, 2024. The video was published on July 15, 2024.
John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Travis Hoium has positions in Alphabet, Snap, and Spotify Technology. The Motley Fool has positions in and recommends Alphabet, Amazon, Meta Platforms, and Spotify Technology. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.
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