Spotify will offer audiobooks to change this market

The world’s leading music streaming platform continues to present this new possibility to strengthen its position

It is clear that the streaming music platform Spotify is constantly looking for new markets to enter so that its business does not depend on music (although it is clear that it will continue to be its main business).

On this occasion, the company revealed that it is working on a new function that will offer its users the possibility of accessing audiobooks.

The imminent new service will be the third leg of its business, after songs and podcasts.

What does this move from Spotify mean?

Audiobooks are contents that allow you to listen to a book narrated so you don’t have to read or take advantage of moments when it is difficult to do so, such as when walking.

Last year Spotify acquired the company Findaway (operation still to be approved), which works in the audiobook segment, which was already a very significant move.

Even Daniel Ek, CEO of Spotify confirmed that this type of content will be available very soon on its platform.

The revolution of the audiobook market

Currently, the companies that have this type of content offer the purchase of the same for amounts generally above US$10 dollars. The other modality is through subscriptions that give access to a catalog at a price of US$15 more or less.

This will be radically different from what you have in mind Spotifywhat wishes to maintain the Freemium model that characterizes all its products.

The access to audiobooks can be done with ads to keep the business and, if desired, have a payment account so you don’t have to listen to advertising.

The first is the one that will remove the foundations of what is known to date, because will allow creators or publishers to monetize their releases and personally manage their business.

Furthermore, this will allow reach users in a massive waysomething that at the moment did not happen since until now, the audiobooks They are a niche product.

When will the audiobooks be released?

Without indicating a specific date by Spotify, everything indicates that it will be next year when the audiobooks are on the platform.

The truth is that this decision is very positive for the company to diversify its business, and users will possibly be greatly favored by being able to find content of this type in a much simpler way.

Now it remains to be seen if there is enough demand for the best creators to decide to put their novelties on the platform or prefer the business model that companies like Amazon or Audible have, according to the site