Popular comedian Dax Shepard has inked a deal worth around $80 million with Amazon.com Inc.'s (NASDAQ:AMZN) Wondery for his acclaimed podcast "Armchair Expert."
What Happened: Under the new agreement, Shepard's podcast will transition from Spotify Inc. to Wondery, the startup Amazon acquired for $300 million in 2020.
The deal grants Wondery exclusive distribution and ad-sales rights along with the co-production of two new podcasts, reported The Wall Street Journal, citing people familiar with the matter.
The contract also includes an annual livestream of the show featuring Shepard and a first-look option for any new podcasts he develops. Amazon plans to launch video episodes of "Armchair Expert" and create translated versions for global distribution.
Wondery+ subscribers will enjoy early, ad-free access to new episodes before they are broadly distributed on platforms like Apple Podcasts and Spotify. Amazon will also exclusively create and sell all merchandise related to the show, the report noted.
From September, Amazon will distribute and sell ads for the full back catalog of "Armchair Expert" podcasts. The show, which debuted in 2018, has hosted over 600 interviews with prominent figures such as former President Barack Obama and Microsoft co-founder Bill Gates.
Amazon and Shepard did not immediately respond to Benzinga's request for comments.
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Why It Matters: Amazon has also been in discussions with NFL star brothers Jason Kelce and Travis Kelce about distributing their "New Heights" podcast, according to sources familiar with the situation.
This move comes as Amazon continues to expand its entertainment offerings. Earlier this year, the company confirmed a game show deal with YouTube sensation Jimmy Donaldson, popularly known as MrBeast for its Prime Video platform.
Amazon's first-quarter earnings report highlighted a 13% year-over-year increase in net sales, reaching $143.3 billion and beating Street consensus estimates, according to data from Benzinga Pro.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Photo courtesy: Amazon
