Spotify takes a big leap into audiobooks

While audiobooks now represent only 7% of the global book market, annual growth exceeds 20% each year. koldunova/Adobe Stock

The streaming service that transformed the music industry is launching an audiobook offering, with more than 300,000 titles.

A new player is making a very noticeable entry into the dynamic audio book market. The world leader in music streaming, Spotify, launched a dedicated offer on its application in the United States on Tuesday. The Swedish giant offers more than 300,000 audiobook titles, including best-selling authors such as Michelle Obama and Stephen King. Users of the application across the Atlantic can now buy the books they want to listen to individually. Purchases are not included in the monthly Spotify subscription. Unlike its competitors such as Audible, Amazon which largely dominates the market, Apple Books or even Kobo and Nextory, Spotify has not chosen for its launch to bet on a subscription formula.

“We have the ambition to introduce new business models around audiobooks in the future. By launching our pay-per-view offer on our app today, we are testing how our users will interact with each title”thus declared…

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