Amazon Partners With Hello Sunshine To Gain Competitive Edge
Zacks Investment Research | May 22, 2018 10:02PM ET
Amazon’s (NASDAQ:AMZN) audiobook unit, Audible announced its collaboration with Hello Sunshine, an American media company that produces films, unscripted stories and TV shows.
Per the partnership, Audible will launch Book Club x Hello Sunshine in June, which is an online community where Reese Witherspoon, the founder of Hello Sunshine selects a book on a monthly basis. It also offers space for discussion and Q&A session with author.
Consequently, listeners of Audible will now be able to enjoy the audio play of the books curated by Reese, which mainly feature unique stories celebrating women. This is likely to attract more listeners to Audible platform.
Further, both the companies are planning to introduce Audible Original by Hello Sunshine in the later part of the year, containing original audio productions.
Audiobooks Hold Promise
Amazon is well poised to reap benefits from growing demand for audiobooks in today’s fast paced world where readers prefer listening to a book instead of reading it. We believe the latest move will help Amazon in gaining momentum in the audiobook space.
Notably, Amazon stock has returned 35.2% on a year-to-date basis, outperforming the Amazon.com, Inc. Quote
Zacks Rank & Other Stock to Consider
Currently, Amazon carries a Zacks Rank #2 (Buy).
Another top-ranked stock to consider in the broader technology sector is Akamai Technologies (NASDAQ:AKAM) which sports a Zacks Rank #1 (Strong Buy). You can see Zacks Investment Research
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