Benzinga | Aug 31, 2021 05:05PM EDT

Amazon Eyeing This Industry After Facebook, Spotify, Twitter: Axios

* Amazon.com Inc (NASDAQ:AMZN) has ramped up investment in a new live audio feature akin to Clubhouse, Twitter Inc (NYSE:TWTR), Twitter Spaces, and Spotify Technology SA's (NYSE:SPOT) new live audio platform, Axios reports.

* Amazon's podcasting, music subscriptions, and live audio seek to bolster its content offering via Alexa and smart speaker products.

* Amazon is in touch with major record labels about live audio events with artists. It is also eyeing talk radio programs and podcasts. Amazon also plans to integrate live audio into its live video service Twitch.

* Amazon is targeting a digital radio-like tool for live-streaming performances and conversations focused mainly on music and events for now.

* Facebook Inc (NASDAQ:FB) also aims to launch Live Audio Rooms, while Spotify forayed into the sector by acquiring Locker Room.

* Also, Twitter recently monetized its live audio feature on the Apple Inc (NASDAQ:AAPL) iOS.

* Price Action: AMZN shares closed higher by 1.44% at $3,470.79 on Tuesday.