14 DAY TRIAL // Apple is betting big on its music and podcast service, and according to a new report, the company has been eyeing a new acquisition that could help it in its attempt to better compete against the likes of Spotify and other competing firms.
Bloomberg writes that the Cupertino-based iPhone maker is one of the parties interested in taking over Wondery, one of the largest independent podcast studios and networks.
The deal could be worth as much as $400 million, though right now, it’s still not known if Apple is in pole-position to take over the company or not. But one thing is almost certain: Apple would have to outbid Sony and two other unnamed parties, as four different names are said to be currently looking into a potential takeover of Wondery.
Spotify not interested
Interestingly enough, Spotify isn’t one of the first that are considering a possible acquisition, despite the company investing aggressively in podcasts lately.
Rumor has it that Spotify could even launch a podcast-only plan that would be separated from its music services as part of a new strategy that would allow it to better monetize the existing content.
Apple, on the other hand, has obviously remained completely tight-lipped on everything, though it would make sense for the company to take over Wondery. Apple’s purpose is to bring more customers to its services, and Wondery could help offer exclusive content that would support this migration from other services to its own.
Right now, however, the rumored $400 million price that Wondery is seeking for a potential takeover is believed to be the reason many potential bidders are currently waiting before getting involved in the talks, so if the price drops in the coming weeks, Apple might have a harder time in its attempt to secure a deal.
A decision, however, is expected to be made in the coming months, so expect more information on the state of the talks to emerge rather sooner than later.