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“This launch opens up new opportunities for local authors and rights holders and helps create an additional revenue stream for the industry. With 28% of Spotify’s users located in Europe, we’ll continue investing in and growing the available audience and revenue pies for publishers and authors,” the company said today.
In markets where audiobooks are available, Spotify displays a selection of audiobooks on its Home feed, and there’s also a dedicated Audiobooks hub with curated recommendations. While 200,000 audiobook titles for Premium members may seem like a lot, Spotify is also offering other audiobooks on-demand, including for free users. Premium users who use their 12 hours per month of audiobook listening can also purchase a 10-hour top-up for €9.99.
“While it’s still early days, the reaction to Audiobooks in Premium from authors, publishers, and listeners in available markets has been remarkable,” the company said. “On Spotify, we’ve seen user engagement increase among listeners who started an audiobook for the first time. In the U.S., these users spend an average of five additional hours on Spotify over their first two months after starting a book.”
Earlier this year, Spotify launched a new ‘Basic’ plan without audiobooks in the US that’s priced at $10.99/month, which just $1 cheaper than a regular Premium subscription. While the company has yet to announce if it will bring this new Basic plan to more markets, recent reports also suggested that Spotify could offer better audio quality and new playlist tools to Premium users for an extra $5 per month.
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Publish date : 2024-10-14 12:28:00
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