Should you’re a Spotify person, you possibly can anticipate audiobooks to be added to the service, as the corporate introduced the acquisition of Findaway, a “main audiobook platform.” That’s a savvy transfer by the audio streaming service, which has been shedding market share to the large inflow of competing providers.
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Should you’ve by no means heard of Findaway prior to now, you’re not alone. Chances are high, nonetheless, that you simply’ve heard an audiobook that was offered by them, as they’re a one-stop-shop for publishing and distribution to actually any audiobook retailer you possibly can title.
In addition they present self-publishing instruments, by means of its Findaway Voices service, which is able to mesh properly with the prevailing podcasting instruments Spotify offers.
Findaway additionally has an fascinating enterprise promoting gadgets with pre-loaded audiobooks, referred to as Playaway. Presently, these are aimed toward libraries that wish to distribute digital content material, so it’ll be fascinating to see what Spotify does with that part of the enterprise going ahead.
Whereas we don’t understand how a lot cash Spotify is throwing down for this deal, anticipate it to be a hefty chunk of change. Android Police reviews that the present audiobook market is value $3.3 billion, nevertheless it’s anticipated to develop to a $15 billion business by 2027.
That’s numerous money, and by shopping for a distributor and writer, Spotify goes to be sharing in that income it doesn’t matter what platform its audiobooks are streamed on.
The acquisition must be completed by the top of 2021, barring any regulatory hurdles after all. Anticipate to see audiobook titles seem within the Spotify app in 2022, as we guess they gained’t wish to waste a minute as soon as the deal is completed.
