Can Amazon Take on Spotify With Podcasts?

Amazon (NASDAQ: AMZN) announced plans to acquire Wondery, one of the largest independent podcast networks, at the end of December. The team will join Amazon Music, which launched support for podcasts in September. 

Amazon's following Spotify (NYSE: SPOT) into podcasting. Spotify has seen very good results over the last couple years, and it's made massive investments in podcast technology and content to bolster its position. But Amazon's deep pockets and broad reach could pose a significant threat to the streaming leader.

Image source: Amazon.

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Source Fool.com