Tag: books

Spotify Closes Acquisition of Findaway, a Global Leader in Audiobooks

June 16, 2022

Today, we’re excited to share that Spotify has closed the acquisition of Findaway, a global leader in digital audiobook distributions. As our CEO, Daniel Ek, said at our 2022 Investor Day last week, “We believe that audiobooks, in their many different forms, will be a massive opportunity.” Now, with Findaway officially part of the band, we are looking forward to innovating, growing, and rethinking what the audiobooks market can be—together. 

Findaway works across the entire audiobook ecosystem with a platform and offerings that serve authors, publishers, and consumers. Their technology will help propel Spotify into the rapidly growing audiobooks industry with substantial market opportunity: the audiobooks market is expected to grow from $3.3 billion to $15 billion by 2027. Our global head of audiobooks, Nir Zicherman, said in his 2022 Investor Day presentation, “We believe this presents a unique opportunity to introduce music and podcast listeners around the world to audiobooks and drastically expand that market.”

In addition to offering the largest catalog of distributed titles, Findaway has actively worked to democratize audiobooks through leading technology tools that independent authors can use to publish and distribute their stories to new audiences. We plan on accelerating the growth of these tools, with the goal of scaling and expanding the audiobooks market overall.

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. Chapter one begins today . . . 

Storytel Audiobooks Will Be Available on Spotify Later This Year

May 20, 2021

Just a few weeks ago, we announced the Spotify Open Access Platform, which gives creators with existing subscriber bases the option to deliver paid content to their paid audiences using Spotify. Now, we’re excited to follow with a partnership with Storytel, one of the world’s leading audiobook streaming services. Later in 2021, Storytel subscribers will be able to enjoy Storytel’s library of audiobooks on Spotify by linking the two accounts. 

“It is Spotify’s goal to be the singular platform for all audio: music, podcasts, live conversations, and now via this partnership, audiobooks,” said Courtney Holt, Global Head of Studios, Spotify. “By utilizing the Spotify Open Access Platform, Storytel will be able to deliver its premium audiobooks offering using Spotify’s best-in-class platform, all while retaining direct control over their relationship to their audience.”

“We want everyone to have access to great stories, and today we offer more than 500,000 audiobooks on a global basis across 25 markets,” said Jonas Tellander, founder and CEO, Storytel. “Partnering with Spotify will make amazing audiobook experiences and exciting authorships easier than ever to access for our customers, while we will also be tapping into the opportunity of reaching new audiences who are on Spotify today, but have not yet experienced the magic of audiobooks.”

This partnership illustrates the power of open access as an opportunity for audio creators and providers everywhere to make a home for their content on Spotify while retaining complete control over their business model and a direct relationship with their subscriber base. As we open up the Open Access Platform, listeners will find a greater variety of content available for them to enjoy, all within one app.

Audiobooks are just one form of audio that will be available using Spotify’s Open Access Platform—the possibilities in audio are limitless. Stay tuned for the details on additional partners and widespread access to the program, launching later this year.