Spotify expands Audiobooks to Europe, investing millions in publisher growth
As Spotify expands its audiobook offering to four new, non-English markets, the company states it paid hundreds of millions on an annualized basis to audiobook publishers.
In the past few months, it has also increased the number of titles available to premium members from 150,000 to 300,000. The figures show that the platform’s entry into the audiobook market is contributing to major growth for audiobook publishers overall. The firm’s CEO, Daniel Ek, wrote on X: “We’ve already paid hundreds of millions to publishers, and are excited about [all] the new opportunities now available to authors.”
It’s been one year since we launched Audiobooks for Spotify Premium users and it’s been really cool to watch the excitement from both listeners and authors grow. A few things to share:
