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

Spotify, LinkedIn, Facebook to Compete in Live Audio Space

Spotify acquired Clubhouse rival Betty Labs, which produces live sports audio app Locker Room, for an undisclosed amount of money. Although Locker Room will stay live in the App Store, Spotify will rebrand it with a new name and broaden its focus to include music and culture as well as sports. In addition to the iOS version, Spotify will eventually add an Android version. LinkedIn and Facebook are also developing live audio features as the trend continues to gain traction. These apps would compete with existing platforms Clubhouse, Twitter Spaces and Discord. Continue reading Spotify, LinkedIn, Facebook to Compete in Live Audio Space

Spotify Expands Free Offerings, Looks to Extend Market Lead

Spotify is offering more free music in an effort to ultimately increase its number of paid subscribers. The popular streaming service has introduced an updated version of its free mobile app that offers non-paying users more on-demand tracks from 15 pre-populated playlists. Some of the playlists — such as “Discover Weekly” — are personalized for individual users. Spotify, already the world’s largest paid music service (and now a public company), is expanding its freemium model with the goal of one day reaching billions of users, while maintaining its lead over #2 subscription service Apple Music and other competitors. Continue reading Spotify Expands Free Offerings, Looks to Extend Market Lead

Spotify Streaming Music Service Now Live for Sony PlayStation

Sony has teamed with streaming music service Spotify to allow gamers to listen to their favorite tunes while playing games. Originally announced in January, Spotify officially joined PlayStation Music this week. While many users may be drawn to the Spotify-powered service, hardcore gamers may be turned off by the idea of replacing a game’s soundtrack and immersive audio effects with unrelated music. However, the companies are targeting the gamers who regularly play their own music in the background while gaming. Continue reading Spotify Streaming Music Service Now Live for Sony PlayStation