Amazon Snaps 'SmartLess' Podcast For $60M-$80M: Bloomberg

Amazon.com Inc AMZN is acquiring exclusive rights to “SmartLess,” the podcast hosted by Will Arnett, Jason Bateman, and Sean Hayes, Bloomberg reported.
The financial terms of the three-year deal remain undisclosed. However, the total value is between $60 million and $80 million, according to people familiar with the matter.
From Aug. 1, new episodes of the show will appear on Amazon Music and Wondery+ one week before release on other outlets.
Wondery will handle distribution, marketing, and advertising sales for the show.
The deal also includes the right to team up on future podcasts that the “SmartLess” makers produce.
Spotify Technology SA SPOT paid $20 million annually for “Call Her Daddy,” which stars advice guru and comedian Alexandra Cooper.
Distributors like Amazon, Spotify, and Apple Inc AAPL see the programs as a way of attracting customers to their other services and products.
“SmartLess” has amassed an audience of millions since its debut last July.
Amazon ramped up its podcast investment after Spotify incurred over $1 billion on podcasting companies and shows over the past few years. Amazon announced a deal last week for the podcast hosting service ART19 after snapping Wondery in 2020.
Amazon planned to offer six months free of The Walt Disney Co DIS Disney+ movie and TV service to new subscribers of its music product. Amazon Music costs $8 a month for customers of the company’s Prime video and delivery service. It is $10 a month for non-Prime customers.
Amazon.com held $73.3 billion in cash and equivalents as of Mar. 31, 2021.
Price action: AMZN shares traded lower by 0.35% at $3,431.85 on the last check Tuesday.