Amazon-owned audiobook provider Audible has agreed to purchase comedy service Rooftop Media for an undisclosed price, the companies announced Monday.
Rooftop Media, which operates website Rooftop Comedy, records comedy performances and licenses the content for live or on-demand streaming. Audible agreed to acquire the San Francisco-based company in September to bolster its comedy offerings.
“Audible Studios has been conceiving and producing original content in mystery, science fiction and other genres for years, and these creative efforts have been embraced by our millions of customers globally,” said Audible founder and CEO Donald Katz. “With Rooftop’s rich comedic offerings and vast pool of comedy talent, we foresee an even more exciting selection of original spoken-word entertainment at Audible in the months and years to come.”
Added Rooftop CEO Will Rogers: “Like Rooftop, Audible is obsessed with producing incredible programming, and Audible’s commitment to expanding its content offerings on behalf of its customers represents a tremendous new audience for Rooftop talent as we work to create new content together over time.”
Audible was acquired by Amazon in 2008 for $300 million. Bringing Rooftop under the e-commerce giant’s umbrella also boosts the company’s growing digital media business, which includes video and music services through Amazon Prime and original television production via Amazon Studios. Amazon also recently acquired live gaming streamer Twitch.
The acquisition comes just days after Amazon missed on its quarterly earnings, sending stock down 11 percent during after-hours trading. The company reported a third-quarter net loss of 95 cents per share. Analysts had expected a loss of 74 cents per share.