Spotify Targets Audiobook Market with Purchase of Findaway

Music streaming powerhouse Spotify is expanding its narrative footprint with the acquisition of audiobook distributor Findaway. The purchase brings Spotify a large catalog of audiobooks as well new revenue streams not only through audiobook sales and subscriptions, but through units like Findaway Voices, which provides turnkey services for authors who want their writings recorded. Spotify’s evolution to all-things-audio follows the company’s Q3 announcement that its podcasting business had overtaken market leader Apple in terms of downloads. Spotify says it expects the global audiobook sector to grow from $3.3 billion today to $15 billion by 2027. Continue reading Spotify Targets Audiobook Market with Purchase of Findaway

Findaway Launches Tablet Specifically Designed for Libraries

Findaway launched its Playaway audio player in 2006, a device that came pre-loaded with one audiobook. Despite distribution deals with Borders and Barnes & Noble, the product failed to gain traction, likely due to the lack of customization options. However, since libraries are in the business of passing one item from person to person, the device had some appeal. Now the company is introducing its Playaway Launchpad, designed specifically for the children’s sections of libraries. The device comes pre-loaded with educational apps developed by app maker Fingerprint. Continue reading Findaway Launches Tablet Specifically Designed for Libraries