Premium subscribers will be able to listen to up to 15 hours of audiobooks per month, with a launch in the U.K. and Australia Tuesday and the U.S. to come.
Rather than purchase audiobooks à la carte, premium subscribers will be able to open the app and opt to listen to more than 150,000 audiobooks from all the major publishers that will be offered as part of the Spotify subscription.
The offering will be rolled out to the U.K. and Australia Tuesday, with other markets, including the U.S., expected to launch this winter. As of its latest earnings, Spotify has more than 220 million paid subscribers. Spotify CFO Touts AI DJ, Podcasting "Evolution": "We Are Signing Deals Differently"
“I’m so excited to bring some of the same tools that have helped the music industry and podcast industry as well now to the audiobook industry,” CEO and founder Daniel Ek said at an event in New York announcing the launch Tuesday. its audiobooks business in September 2022, following its acquisition of audiobook production platform Findaway in November 2021.
“This greatly improves our offering, which will lead to people increase their engagement with Spotify, which will then, of course, reduce churn,” Ek said of the new audiobooks offering. “Now, in addition to that, this gives great flexibility to our business, which will ultimately help our revenue and profits.”
At launch, Spotify had only offered à la carte purchases of the audiobooks, which at the time included more than 300,000 titles from major and independent publishers for users in the U.S. By adopting the subscription model, the company will now position itself as more of a competitor to Amazon’s Audible, which gives listeners access to audiobooks and podcasts, with varying catalogs depending on the tier of the subscription. against Apple’s app store regulations.
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