(Pocket-Lint) – As part of the 2022 Investors’ Day announcement, Spotify has made it abundantly clear that it is targeting the audiobook market in a major way.
The discussion follows the acquisition of Spotify’s still-in-progress, Findaway, a platform that allows producers to distribute their own audiobooks directly, but seems to have more ambitions than that.
Interestingly, the various talk heads from Spotify have confirmed that the mind model is still like streaming basic music from “Freemium”, so users can theoretically access books with ad breaks without paying.
This is almost the opposite of how things work on existing platforms like Audible, but can be an interesting distraction in a market full of surprisingly expensive audiobooks.
Part of the attraction for Spotify is that audiobooks apparently account for half of the overall book market in terms of revenue, so there must be a piece of pie engraved if it can hold a landing.
You can read more details about this initiative from Spotify thanks Post with updates, And it’s surprisingly open and technical. It remains to be seen how long it will take Spotify to get some books in front of people.
Written by Max Freeman-Mills.
