Amazon has announced that it will acquire comedy firm Rooftop Media, as the company expands its digital media offering.
In a bid to combat Netflix’s streaming service, which issued a third-quarter profit warning last week following a lower-than-expected userbase, Amazon will integrate the company with its audiobook distributer, Audible.
As a result of the merger, Rooftop Media's live recordings of US comedians will be added to Audible's back catalogue, according to Reuters. The ten man firm currently has broadcast deals in place with Apple and Yahoo, supplemented by additional streaming agreements with Spotify, Sirius XM and Pandora.
Will Rogers chief executive of Rooftop said the acquisition, which went through for an undisclosed fee, will greatly boost its audience.
This latest purchase follows a wider trend from the firm, showing its commitment to acquiring a vast range of media groups.