Spotify would like to offer you a large library of audio books soon.
Spotify wants to expand what it has to offer its listeners. However, the streaming service is not focusing on more music, it is targeting the audio book market. With this, Spotify wants to get a piece of the cake from Amazon, which currently dominates the market with its own platform Audible.
That’s what Spotify founder and CEO Daniel Ek revealed yesterday Spotify Investor Day announced. There he explains that Spotify agreed a few months ago to take over the audio book publisher Findaway. On Findaway, book authors can find, among other things, voice actors who record their audio books. You can then have Findaway publish them. The company has a large library of audio books.
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Spotify sees great potential in audio books
Ek goes on to say that audio books represent a great opportunity for Spotify. He sees a $70 billion market here that Spotify wants to expand into. Currently only one dominates big player
However, we do not yet know exactly what the expansion into audio books will look like. However, Ek’s wording suggests that Findaway will play a major role here. That also confirms one press release from November 2021. Here it says, among other things:
Findaway’s technological infrastructure will enable Spotify to rapidly scale its audiobook catalog and enhance the consumer experience, while opening new avenues for publishers and authors to reach audiences around the world.
So we can expect Spotify to expand its audiobook offering sooner or later.
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The cost of the audio books is still uncertain
So far, however, we don’t know anything about how the addition of audiobooks will affect the price or whether there will be any change at all. It would be conceivable that listeners would have to take out an additional audio book subscription or buy the books individually. But free audio books with commercial breaks are also conceivable, as is currently the case with music.
Do you listen to audio books from time to time? If so, which platform do you use for it? Is there serious competition for Amazon’s Audible right now? Please let us know.
