Amazon's Putting Pressure on Spotify

Amazon (NASDAQ: AMZN) has officially launched podcasts within its music app as the medium grows increasingly popular. The move is a direct challenge to Spotify (NYSE: SPOT), which has made podcasts a significant part of its strategy. Amazon's broad user base and deep pockets should have Spotify investors afraid of the potential threat posed by bigger tech companies.

Over the last few years, Spotify has committed about $1 billion to podcast content and technology. There are now over 1.5 million different podcasts available on its platform, including dozens of original and exclusive shows.

Image source: Amazon.

Continue reading

Source Fool.com