Online shopping giant Amazon is investing ‘substantially’ in live streaming of audio, sources report to tech website Axios. The new service would show similarities with the popular app Clubhouse and the new music streaming service Spotify.
Amazon already offers subscriptions to podcasts and music. But, according to tech website Axios, the company would like to expand its audio offering through its Echo smart speakers. Users can then attend live concerts and performances through their Amazon account.
Amazon would also be in talks with major music labels about live events featuring artists. In addition to music, the service must also be suitable for talk shows from radio stations and podcasts, and an insider tells the site.
At the end of last year, Amazon already acquired podcast maker Wondery to become more active in the audio sector. According to the business newspaper The Wall Street Journal, the amount of money involved in the deal was not disclosed, but the deal was worth more than $300 million.
