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Spotify CFO Paul Vogel has introduced that the streaming music platform will quickly start testing audiobooks.
The Spotify government mentioned the corporate plans to proceed increasing its product portfolio because it sees development alternatives in each its established and growing markets.
“It is popping out quickly, however I’d say do not anticipate it to be the final change or enchancment we make to the audiobook providing,” Vogel mentioned.
Spotify intends to deal with this new mission in the identical means as its podcast providing. The streaming platform may also try to supply an improved person interface for listening to audiobooks.
“In terms of podcasts, we provide you with a greater expertise,” mentioned Vogel. “There was no purpose so that you can swap from no matter you used to podcast to Spotify until we created an atmosphere the place it was higher and simpler for you. And we expect there are comparable alternatives in audiobooks the place we will innovate and create one thing completely different.”
Spotify goals so as to add audiobooks to its platform to create an atmosphere that may compete with different audiobook gamers, equivalent to Amazon’s Audible, Audiobooks.com and Scribd.
Vogel famous that the addition of audiobooks on Spotify is a development alternative for publishers and authors, because the upcoming launch will assist them develop the general e-book and audiobook market.
Vogel’s feedback come as Spotify has been inching towards an audiobook product for the previous 12 months. Final fall, the corporate acquired audiobook distributor Findaway for an undisclosed sum. On the time, Spotify mentioned it deliberate to construct on Findaway’s present investments within the audio trade.
In January 2021, the corporate started testing the audiobook format with numerous classics equivalent to “Harry Porter” and “Frankenstein.” The identical 12 months, in Might, the corporate introduced a partnership with Storytel, an audiobook platform. The transfer was supposed to permit Spotify customers to entry audiobooks by their Spotify app.
On one other observe, Spotify may also be launching a brand new ticketing product which is a brand new means by which monetization shall be boosted. This comes after the corporate launched a brand new web site final month with the goal of promoting stay live performance tickets immediately from its platform.
The ticketing web site has seen a rise in listening habits after completely different prospects who purchased tickets to completely different occasions are inclined to hearken to extra music from artists on Spotify. The ticketing web site has not been formally launched but, however it’s obtainable for the general public to order tickets.
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Spotify To Begin Testing, Trialing Of Audiobooks
