Popular music streaming platform, Spotify, is currently pulling its weight in another avenue than what it was known for. In this digital era where music artists can simply create a remote account at their local space and enjoy being aired globally, comes with a few names like Apple Music, Spotify, and a few others that have been consistent in exceptional service delivery in the online music streaming platforms.
Just when you must have known that Spotify was all about music, they decided to pull a stunt that most people least expected by coming up with a unique service of providing audiobooks to the general public.
In today’s post, I would like to guide you through the new launch by Spotify on their audiobooks and why you should watch out for them.
When did Spotify launch its audiobook platform?
Just like most people didn’t see this coming, on Tuesday, September 20th, 2022, Spotify launched its audiobook to the general public in the US. With a whopping collection of over 300,000 audiobooks, Spotify proves to be ready to take over the business of audiobooks, giving Amazon-owned Audible a run for its money.
Spotify started as a streaming platform on April 23rd, 2006 and is currently enjoying a remarkable subscriber base of over 433 million monthly, which includes 188 premium-paying subscribers. With this new notch as a chevron, Spotify decided to tap into the growing market of audiobooks, which is currently at 7% with a commendable yearly growth of 20% globally.
Is Spotify offering a monthly subscription like Audible?
Contrary to what you might have been used to, Spotify currently has no monthly subscription as every audiobook intended to be listened to would be at a price. While the cost might vary depending on the choice of material you want to listen to, its a la carte offering comes in at what appears to be a whopping sum, from about $20.00 to almost $40.00, respectively.
Is Spotify’s audiobook open to all?
While the launch was done on Tuesday, the over 300,000 audiobooks are currently available for people in the US to listen to and purchase before they are available for other markets. The audiobooks play perfectly alongside the music and podcasts on Spotify's brand-new user interface, which is designed exclusively for listening to audiobooks.
Could Spotify be ready to take over the audiobook space?
Spotify brags about this leap into audiobooks, saying this was how the podcast also started, and now it is an entire success story.
The launch in the US is simply an iteration of audiobooks on Spotify, and from the fluid user experience promised by the apps, they intend to get better with the service before spreading out to more regions around the country.
What would Spotify be doing differently to edge competitors?
With a clear understanding that the audio business is a bigger and more rewarding market at this present time, Spotify promises to introduce a new format to an audience that has not yet consumed it and blaze a path for new listeners.
They also see this channel as an opportunity for creators to have a closer connection with their fans.
The addition of audiobooks is another step toward Spotify's goal of becoming the most widely used audio streaming service in the world, which is highly commendable and feasible, going by their line of business.
In conclusion, the world of music streaming has before now identified Spotify as one of its distinct players, having garnered several success stories in its 16-year journey as a streaming service, and now with its newly added audiobook feature that is ready to give its competitors a run for their money, Spotify has made its services open to the US and gradually to the world at large.
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