audience Music Interface

Spotify Adds Audiobooks, Calls U.S. Launch “The Next Frontier For Us As A Company”

Reading now: 825
deadline.com

Spotify has made more than 300,000 audiobook titles available for purchase in the U.S. via a new user interface, calling the entry into the category “the next frontier for us as a company.”In a blog post, Spotify said it sees “a substantial untapped market” in audiobooks, which have only about 6% to 7% of the overall book market but are growing by 20% a year.

The company has estimated that audiobooks will grow from $3.3 billion in 2021 to $15 billion by 2027.Users will be able to purchase and download individual books from a range of major and independent publishers.

The launch establishes an à la carte business model for Spotify that is neither the existing free, ad-supported one nor paid subscriptions.

When they find books they want to buy, users will be directed to a separate website and then the book will be stored in the Spotify app after the purchase is completed.

Read more on deadline.com
The website starsalert.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA