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Spotify has set its sights on a brand new sound-based frontier: audiobooks.
The streaming music firm held its second Investor Day occasion on Wednesday the place CEO Daniel Ek revealed the corporate’s new foray into the world of audiobooks, calling it a “huge alternative.” Ek mentioned he desires to compete with the opposite “main participant dominating the area,” referencing Amazon and its audiobook platform, Audible, which is the one noteworthy rival.
Spotify didn’t reveal a lot of its assault plan however did give a couple of particulars in its presentation.
Audiobook plans
Spotify’s Chief R&D Officer Gustav Söderström mentioned the audiobook characteristic will launch later this 12 months to its 400 million listeners, however didn’t give a particular date.
Audiobooks can even be higher built-in into the principle app.
In case you didn’t know (and nobody can blame you), Spotify already has audiobooks on its platform, however they’re fairly troublesome to search out. You’ll be able to kind in “audiobooks” within the Spotify search bar and discover a number of audiobook playlists like one for The Lord of the Rings, but it’s not as in the event that they have been correctly marketed.
We do know that the audiobook platform Findaway, which Spotify acquired again in late 2021, shall be main the cost. The concept is Spotify shall be utilizing Findaway’s audiobook “experience and infrastructure” to construct the brand new characteristic. Throughout the occasion, Findaway Voices was listed for example. It’s a service that connects authors with voice actors to learn and document an audiobook. As soon as recorded, Findaway handles distribution.
Spotify didn’t provide any additional particulars nevertheless it’s secure to imagine that Spotify’s audiobooks can have their very own part on the principle app like podcasts. No phrase on if listeners can pay additional for the brand new service or if they’ll buy books individually as they do on Audible.
We requested Spotify for extra particulars and a precise launch date for the revamped audiobook characteristic, however have been met with silence.
Evaluation: Increasing empire
In recent times, Spotify has aggressively expanded its audio empire and attracted new clients. The revamped podcasts shortly proved to be a sensible funding as Spotify hit 165 million premium members a couple of months after launching the brand new service. Now if solely Spotify was this dedicated to launching HiFi audio to its platform.
For the librophiles, TechRadar has a listing of the finest audiobook web sites for the 12 months.
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