Spotify is now promoting audiobooks from inside its app. Customers within the US can go to a devoted part, buy their chosen books, and pay attention alongside.
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Launched immediately, there are over 300,000 titles to buy. Whereas searching, the play button will seem like a lock icon. Tapping on that opens a separate webpage the place customers pays for his or her audiobook.
As soon as paid, the audiobook might be accessible from the person’s library and could be performed anytime. Spotify additionally permits downloads for offline listening and has computerized bookmarking, so that you by no means lose your home.
You possibly can regulate the playback velocity with varied slower-than- and faster-than-normal choices. And sure, there’s a ranking system, so you possibly can rave about how a lot you favored the title (or didn’t).
Spotify has been positioning itself as a one-stop-shop for all issues audio for a while now. Final 12 months, the corporate purchased Findaway, a “main audiobook platform.”
That buy gave Spotify an audiobook writer and distributor and one which distributes to different audiobook retailers.
Spotify now has one other income stream, one which’s not depending on subscribers
The deal additionally got here with a self-publishing arm. Will Spotify allow self-published audiobooks to hitch its platform? Is it already utilizing this for its podcasting options?
Spotify is betting huge on audiobooks being an earnings driver sooner or later. Earlier this 12 months, at Spotify’s Investor Day, CEO Daniel Ek mentioned, “we imagine that audiobooks, of their many various varieties, might be an enormous alternative.”
That might effectively be true. The worldwide guide market is round $140 billion yearly, with audiobooks nonetheless beneath 10% of that complete. The potential is there to increase to 50% of the market.
