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Spotify CFO Paul Vogel has introduced that the streaming music platform will quickly start testing audiobooks.
The Spotify govt stated the corporate plans to proceed increasing its product portfolio because it sees progress alternatives in each its established and growing markets.
“It is popping out quickly, however I’d say do not count on it to be the final change or enchancment we make to the audiobook providing,” Vogel stated.
Spotify intends to deal with this new undertaking in the identical manner as its podcast providing. The streaming platform may even attempt to supply an improved person interface for listening to audiobooks.
“In the case of podcasts, we offer you a greater expertise,” stated Vogel. “There was no motive so that you can change from no matter you used to podcast to Spotify except we created an surroundings the place it was higher and simpler for you. And we expect there are related alternatives in audiobooks the place we will innovate and create one thing totally different.”
Spotify goals so as to add audiobooks to its platform to create an surroundings that may compete with different audiobook gamers, resembling Amazon’s Audible, Audiobooks.com and Scribd.
Vogel famous that the addition of audiobooks on Spotify is a progress 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 stated it deliberate to construct on Findaway’s present investments within the audio business.
In January 2021, the corporate started testing the audiobook format with varied classics resembling “Harry Porter” and “Frankenstein.” The identical 12 months, in Could, the corporate introduced a partnership with Storytel, an audiobook platform. The transfer was supposed to permit Spotify customers to entry audiobooks via their Spotify app.
On one other observe, Spotify may even be launching a brand new ticketing product which is a brand new manner via which monetization might be boosted. This comes after the corporate launched a brand new web site final month with the intention of promoting dwell live performance tickets straight from its platform.
The ticketing web site has seen a rise in listening habits after totally different prospects who purchased tickets to totally 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 out there for the general public to order tickets.
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Spotify To Begin Testing, Trialing Of Audiobooks