Benzinga | Jun 29, 2021 11:40AM EDT

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

* Amazon.com Inc (NASDAQ: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 (NYSE:SPOT) paid $20 million annually for "Call Her Daddy," which stars advice guru and comedian Alexandra Cooper.

* Distributors like Amazon, Spotify, and Apple Inc (NASDAQ: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 (NYSE: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.