Spotify is introducing audiobooks to its premium members in Canada, Ireland, and New Zealand. The rollout will kick off on April 9 and coincides with an enhancement of its catalog to encompass 250,000 titles. While the service has been available in the UK and Australia since October 3, 2023, the US joined the fray on November 9 the same year. Initially hosting a mere 150,000 titles, the catalog swelled to 200,000 titles within a short time.
To explore what the upgrade has to offer, visit the Spotify audiobooks hub. Recommendations from celebrated authors such as Carley Fortune in Canada, Chloe Gong in New Zealand, and Rosemary Mac Cabe in Ireland are also available.
Spotify Competes with Amazon’s Market Share
Spotify’s extensive range of audio features, including sharing and interactive tools, have given it an edge, making it a prominent platform for streamers. Hence, its move into the world of audiobooks. According to Statista data from 2023's third quarter, Spotify holds over 30% of the global audio streaming market share, beating competitors such as Amazon Music, which commands 11% of the market.
Amazon, nonetheless, isn't a fringe player in the audiobooks space. With its highly acclaimed Audible service, it comes out on top in terms of online audiobook platforms. While Apple Books and Google Play Books do play a role, they lack the influence that Amazon holds.
The infographic above elucidates that audiobooks predominantly cater to the younger generation. Yet, the market is still relatively small and currently services just 18% of the global market. There is speculation that this number could almost double in the coming two years, hinting that the growth of Spotify's audiobook service is not likely to decelerate.
Premium subscribers on Spotify gain free access to 15 hours of audiobooks each month. Users desiring additional content can opt to purchase 10-hour top-ups at a cost of $12.99 in the US, £9.99 in the UK, and AU$15.99 in Australia.
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Product Recommendations :
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Example: Sony WH-1000XM4 Wireless Noise Canceling Overhead Headphones
