Spotify is already a multitude of music and podcasts, and shortly the platform will provide audiobooks as a part of the heap of content material clamoring on your ears each time you open the app.
The streaming music service introduced it is acquiring an audiobook firm known as Findaway, with plans so as to add audiobooks to the combo in 2022. The deal reportedly goes past merely distributing audiobooks and may embody audiobook creation companies. This sounds akin to Spotify’s podcast platform, Anchor, which helps you to document, edit, and publish podcast episodes on the fly. Spotify will pair authors of books with potential narrators to successfully create its personal model of Audible.
“With this acquisition, we’re going to have the ability to speed up the addition of an audiobook catalog onto the platform in order that customers can successfully get the entire audio content material that they need all on one platform,” Nir Zicherman, head of audiobooks at Spotify, advised The Verge.
The corporate plans to promote particular person audiobooks to free and paid customers and permit authors and publishers to make use of one other fee processing platform and preserve the gross sales. Those that go for Spotify’s fee platform should share income, although that might assist unbiased authors distribute their work extra rapidly.
Spotify additionally plans to work on audiobook discovery, much like its work surfacing songs, playlists, and podcasts. However this might get annoying quick, particularly in case you’re already deeply embedded inside one other platform for audiobooks. As an illustration, I leaned in totally to the Google Play Retailer and its audiobooks, which combine properly with my Google Assistant good shows. Possibly there’s some synergy available right here—say, firing up a playlist of struggle songs after listening to a self-help guide on managing anger—however both approach, Spotify goes to have some critical competitors.
Amazon’s Audible is the clear rival, and adding a library of audiobooks to its platform helps position Spotify as your one-stop audio shop. According to The Verge, Spotify would possibly even enterprise into subscription territory as a part of its premium choices.
There are not any particulars on how a lot Spotify provided Findaway, although the corporate stands to make cash any time somebody streams a Findaway-distributed guide. It would additionally need to pay royalties to different audiobook publishers and authors.