A new report from Bloomberg claims that Apple is one of the companies that has had conversations about the acquisition of the Wondery podcast network. It's not the only one. It is rumored that there are four companies that want to do with the firm specialized in podcasting. All of them are in a position to acquire the same, and although the money requested may be an impediment, surely an agreement will be reached shortly. Wondery asks for a somewhat high amount for any company in the sector. It is said that we do not move in a range of between 300 and 400 million dollars.
Four companies are currently interested in acquiring the specialized podcast network company, Wondery. Apple is one of them, according to the rumors that have emerged and which the specialized medium Bloomerg has echoed. In fact, it describes Wondery as "one of the largest independent podcast networks and studios, reaching a monthly audience of more than 8 million people." There are many new users for any company and Apple could use very well to have this additional sum of followers on Apple Music.
Founded in 2016 by former television executive Hernán López, Wondery has produced some of the most popular podcasts in recent years. However, not everything is rosy. The executive has been accused of bribing soccer officials while working for 21st Century Fox.
Luckily Spotify or Sirius XM Holdings Inc. are not one of those three other companies that want to get Wondery's services, because with the experience we have, we know that they would have already acquired it, as they have done with a lot of companies in the world. sector, previously. According to experts, we are moving at prices somewhat higher than the previous purchases of these companies. For example, if those 400 million were finally paid, it would be a higher price than what Spotify paid for Ringer and Gimlet Media, or what Sirius XM Holdings Inc. paid for Stitcher.
According to reports, an agreement is expected sometime "in the next few months". However, the negotiations can fail at any time, because as we have already said, the price at which we move is somewhat high for what is used in this sector. It is not clear who is the favorite company for the negotiations. Bloomberg notes that the $ 300-400 million price tag could scare off some bidders.
Other rumors suggest that apart from Apple, Sony would also be interested in buying this company. The Japanese company has invested in a few podcasting companies and has funded dozens of original podcasts. It has also been the most aggressive of the top three music companies. However, we assume that Apple will be very interested in purchasing this company. Earlier this year, it was announced that Apple TV + would develop a limited series that would tell the WeWork story, based on the Wondery podcast “WeCrashed: The Rise and Fall of WeWork«. In all, Wondery is said to be developing more than a dozen TV shows based on her original podcasts.
For Apple, Wondery is likely a major acquisition target due to the boost it could give both Apple Podcasts and Apple TV +. The Californian company has been slowly expanding its podcasting efforts recently, featuring complimentary television shows always bearing the stamp of originality. But also by purchasing the podcast app, Scout FM at the beginning of this year.
For now, podcasts are not a massive industry. They generate less than a billion dollars a year in ad sales in the US, according to the Interactive Advertising Bureau. But the market's growth potential has helped boost Spotify's shares this year, up 85%. So it is clear that this sector is a safe business. Apple knows this and does not want to be left behind. I'm sure he'll do everything he can to keep Wondery.