Spotify is preparing a platform for audiobooks
If you use the Spotify streaming service, you may be glad to learn that the firm is planning an audiobook platform. The announcement comes as no surprise given the company's acquisition of the Findaway platform last year.
Authors can use the Findaway audiobook platform to create, distribute, and sell their work. This acquisition should serve as the ideal springboard for Spotify as it seeks to establish a footing in the new industry.
Spotify CEO Daniel Elk believes audiobooks will be a major opportunity for Spotify, citing the company's position as a leader in the audio streaming business.
The arrangement with Findaway has not yet been finalized. Despite the fact that the deal was completed in November of last year, the Ministry of Justice's antitrust section is currently investigating it.
If it is authorized, however, Spotify will no longer be able to block anything from entering the audiobook market. The exact date when they will be available on Spotify is unknown.
However, Spotify is not the only streaming provider that is experimenting with audiobook publications. Apple, too, may soon launch its own dedicated audiobook service.
These could be the next steps for the tech titan in the realm of streaming, where he has been successful for years with the Apple Music service.
Apple has added new services to it in recent years. For instance, the Arcade prepaid game package, News + news package, and Fitness + service, which provides aerobics lessons.
As a result, it's not surprising that there's been speculation about an audiobook service this year. According to Mark Gurman of the Bloomberg portal, fans can expect new services from the corporation as early as 2022.
