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Amazon Is Taking on Spotify? What an $80 Million Deal With Dax Shepard Says About Amazon Advertising

Amazon signed an $80 million deal with Dax Shepard and the Armchair Expert podcasts, hoping to make the podcast ad business much bigger.

By Travis Hoium – Jul 16, 2024 at 5:15AM EST

Spotify (SPOT +0.71%) has built the leading podcast business with its audio platform, creative tools, and advertising network, but Amazon (AMZN +5.43%) is trying to get into the game. An $80 million deal with Dax Shepard shows the company's interest in becoming a player in podcast advertising, which Travis Hoium covers in this video.

*Stock prices used were end-of-day prices of July 13, 2024. The video was published on July 15, 2024.

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About the Author

Travis Hoium
Travis Hoium is a contributing Motley Fool stock market analyst covering solar energy, technology, and growth stocks. Before The Motley Fool, Travis was a mechanical engineer at 3M and founded a virtual reality company. He holds a bachelor’s degree in mechanical engineering and a master’s degree in business administration from the University of Minnesota.
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John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Travis Hoium has positions in Alphabet, Snap, and Spotify Technology. The Motley Fool has positions in and recommends Alphabet, Amazon, Meta Platforms, and Spotify Technology. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.

Stocks Mentioned

Amazon Stock Quote
Amazon
NASDAQ: AMZN
$233.65
(+5.61%)+$12.40
Alphabet Stock Quote
Alphabet
NASDAQ: GOOGL
$318.50
(+0.37%)+$1.18
Meta Platforms Stock Quote
Meta Platforms
NASDAQ: META
$628.39
(+2.61%)+$15.97
Alphabet Stock Quote
Alphabet
NASDAQ: GOOG
$316.37
(+0.52%)+$1.63
Snap Stock Quote
Snap
NYSE: SNAP
$4.95
(+4.65%)+$0.22
Spotify Technology Stock Quote
Spotify Technology
NYSE: SPOT
$485.55
(+0.49%)+$2.38
Reddit Stock Quote
Reddit
NYSE: RDDT
$138.39
(-4.56%)-$6.61

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

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