Tag: 1 Direction

Spotify to Acquire Leading Audiobook Platform Findaway

November 11, 2021

In 2019, Spotify announced its ambition to become the world’s leading audio platform with an expansion into podcasting through the acquisitions of Anchor and Gimlet. Since then, Spotify has not only become a leading platform for podcast creators and listeners, but also expanded on the very format of podcasting itself: taking a fixed format and making it a new audio experience. And today we are taking another step in furthering this mission to build the future of audio by announcing that Spotify has entered into a definitive agreement to acquire Findaway, a global leader in digital audiobook distribution.

“It’s Spotify’s ambition to be the destination for all things audio both for listeners and creators. The acquisition of Findaway will accelerate Spotify’s presence in the audiobook space and will help us more quickly meet that ambition,” said Gustav Söderström, Spotify’s Chief Research & Development Officer. “We’re excited to combine Findaway’s team, best-in-class technology platform, and robust audiobook catalog with Spotify’s expertise to revolutionize the audiobook space as we did with music and podcasts.”

Findaway works across the entire audiobook ecosystem with a platform and offerings that serve authors, publishers, and consumers of this rapidly growing industry, which is expected to grow from $3.3 billion to $15 billion by 2027. In addition to offering the largest catalog of distributed titles, Findaway has actively worked to democratize audiobooks through leading technology tools available for independent authors to create and bring their stories to life. We plan to build on Findaway’s significant innovation in the space, and we’re going to supercharge its growth, bringing everything Spotify knows around personalization and discovery while also innovating on format, delivery, creator tools, and more.

Together, Spotify and Findaway will accelerate Spotify’s entry into the audiobook space and continue to innovate the industry, working to remove current limitations and unlock better economic tools for creators. Findaway’s technology infrastructure will enable Spotify to quickly scale its audiobook catalog and innovate on the experience for consumers, simultaneously providing new avenues for publishers and authors to reach audiences around the globe.

*Terms of the transaction were not disclosed. It is expected to close in the fourth quarter of 2021 and is subject to regulatory review and approval. 

 

Forward-Looking Statements

We would like to caution you that certain of the above statements represent “forward-looking statements” as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. The words “will,” “expect,” and similar words are intended to identify forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements we make regarding the potential benefits of the acquisition and the anticipated timing of the closing of the acquisition. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and include this statement for purposes of complying with the safe harbor provisions. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections, including but not limited to the risks as set forth in our filings with the United States Securities and Exchange Commission. We undertake no obligation to update forward-looking statements to reflect events or circumstances occurring after the date hereof.

10 Years, One Direction: Spotify Celebrates the Boy Band’s Streaming Legacy

July 23, 2020

When One Direction stepped onto the music scene 10 years ago in July 2010, they lit up the world like nobody else. Since then, they’ve played sold-out arenas around the world and have become one of the most beloved boy bands of our time. So to celebrate this double-digit milestone, we’re taking a look at their decade of hit singles and chart-topping albums. Plus, we’re revealing 1D’s top five most-streamed songs of all time and have created exclusive on-platform content for listeners. You know—the little things. 

One Direction and Spotify got a whole lot of history. So let’s start with a walk down memory lane to reflect on the group’s notable streaming dates, states, and numbers from throughout the decade.

  • 1D stans have streamed One Direction tracks over 8.8 billion times throughout the past decade. Nobody can drag them down.
  • November 13, 2015—that’s the date the group released their chart-topping most-streamed album on Spotify, Made in the A.M. Almost five years later, fans are still listening to it in the morning and well into the P.M.
  • If One Direction songs could talk, they’d probably say something along the lines of “Baby, I’m perfect for you.” But don’t just take our word for it. 65 million Spotify playlists feature at least one 1D song and listeners have created more than 4.4 million playlists dedicated specifically to the band.
  • Within the U.S., Connecticut currently holds the title of most active 1D listeners with more streams over the past 90 days than any other state. New Jersey and Wisconsin are also up all night listening, coming in second and third respectively.
  • Although One Direction’s last release was back in 2015, they’re more than just midnight memories. The band still racks up over 19 million listeners a month as of July 2020.

Now that we’ve taken a look back, here’s something new to look forward to: Spotify listeners can now check out a new vertical video with behind-the-scenes footage for the 2012 song “What Makes You Beautiful.” There are also more than 80 new looping song visuals and 10 new storylines featuring behind-the-song memories from songwriters Jamie Scott, Ruth-Anne Cunningham and Savan Kotecha. Directioners in New York City will also be able to check out a special billboard located in Times Square dedicated to the group’s 10-year anniversary.