Shares of Spotify Technology SA (SPOT) are down 0.4% in Tuesday morning trading after Axios reported ( ) that Amazon.com Inc. (AMZN) was interested in investing in localized podcast content. The report said that sports content was "top of mind" for the e-commerce giant as it looks to pair the audio programming with the video rights to live sports. Amazon is also interested in news content so that it has "short-form audio content" that it can present users who ask relevant questions to its Alexa voice assistant. Amazon declined to comment on its plans. Spotify has been getting more serious about its podcasting ambitions and it recently scooped up the exclusive rights to comic Joe Rogan's podcast ( ) in a multi-year deal reportedly worth more than $100 million. Spotify shares have added 35% over the past three months as the S&P 500 has dropped 3.3%.
-Emily Bary; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
May 26, 2020 13:34 ET (17:34 GMT)
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