After its major success on the podcast, the audio streaming giant is continuing to stretch its content delivery way, specifically audiobooks at the moment. Spotify has publicized the ownership of Findaway, a key player in the world of Audiobook
The days of Spotify being a music-only service are long gone. The platform has stepped up its podcasting operations to broaden its appeal and now plans to enter a new audio market: books. The acquisition of Findaway, an audiobook specialist founded in 2005, was disclosed by the Swedish corporation on Thursday, November 11.
In the coming months, audiobooks will be available on Spotify
Spotify will begin offering audio books to its hundreds of millions of customers in 2022 due to this strategic acquisition. The streaming service intends to provide individual audiobooks to its users with free and premium accounts while allowing publishers to utilize another payment mechanism or Spotify’s own.
Those who choose the second choice, on the other hand, will have to redistribute a portion of their earnings, but the increased visibility for independent publishers should more than offset this loss. The Swedish site wants to establish an audiobook discovery option similar to what it already offers with songs, playlists, and podcasts. This functionality, on the other hand, may soon reveal its limitations to those who are already devoted to another audiobook platform.
