Spotify enters fully into audiobooks

Spotify users in the United States now have access to more than 300,000 audiobook titles, the Swedish firm said in a blog post on Tuesday. They can browse the catalog in the Spotify app and shop through the website, similar to purchasing a Spotify subscription.

The company assures that, based on this experience, it will continue betting on the training and will plan launches in other countries.

Although audiobooks represent a market share of between 6 and 7% in the United States, this category is growing approximately 20% each year.

The audiobook market was estimated at $4.8 billion in 2021, with a compound annual growth rate of around 14% expected to reach $9.3 billion in 2026, according to media consultancy Omdia.

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“We’ve always believed that the potential of audio is limitless, and we’ve long said our ambition is to be the complete package for everyone’s listening needs,” said Nir Zicherman, Spotify’s vice president and global head of audiobooks.

According to a spokesperson, “after evaluating user testing and research, we found that the best starting offer would allow users to purchase books individually,” a policy that “allows for price flexibility and for more casual listeners to access to audiobooks easily.”

Audible, Amazon’s commitment to this segment (already available in Spain), currently dominates the general market with a subscription service that opens the door to a catalog of 90,000 titles.