spotify: Spotify takes on Amazon's Audible, launches audiobook service for US users
Spotify users in the country will have access to over 300,000 audiobook titles, the Swedish firm said in a blog.
Users will be able to browse the catalog on the Spotify app and purchase through the website, it added, similar to the purchase of Spotify subscription.
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The audiobooks market was estimated at USD4.8 billion in 2021 and was expected to grow at about 14% compound annual growth rate to USD9.3 billion by 2026, according to media consultancy Omdia.
Spotify has charted an aggressive expansion path as it looks to supplement its earnings from music streaming with other revenue-generating formats such as podcasts, on which it has spent more than USD1 billion to add popular names such as Joe Rogan to its roster.
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