Stepping into the world of metaverse and NFT in the past weeks, Spotify has decided to fully launch the Audiobook feature, which was previously in the experimental phase. This feature, which is not clear whether it will be paid or not, is expected to increase Spotify’s revenues.
Spotify, one of the most used music platforms in the world, continues to bring innovations to its platform. The platform, which has started testing the audiobook feature in the past months, announced that it will create a separate category for audiobooks.
Spotify has started audiobook trials on its platform in the past months. He presented 9 different works from classical literature to users with the voices of successful sound artists. Speaking at Spotify’s Investor Day 22 event, manager Nir Zicherman explained that they think audiobooks offer a unique opportunity to introduce music and podcast listeners around the world and greatly expand this market.
Audiobooks feature may be paid
Explaining that the platform will soon be a place where users can buy and listen to their favourite audiobooks, Zicherman added that this feature will be offered to a global audience of millions of users in a short time. The company is expected to provide personalized recommendations in the audiobook category, as well as music and podcasts. Spotify, which expects great growth thanks to the audiobooks category, is not clear whether the books will be paid for regardless of the subscription.
There’s no clarity on the payout, but the company’s CEO, Daniel Ek, said at the event that they believe audiobooks in many different formats are a great opportunity. The CEO said they want to expand beyond music and podcasts into another audio format and plan to open a shop where users will pay.
So you may have to pay separately to unlock some titles in audiobooks. There are already audiobooks scattered on Spotify and offered to users as podcasts. The company is expected to make an update to the app to allow for purchases and keep audiobooks in a separate category.