Spotify buys Findaway audiobook platform
Miscellaneous / / November 12, 2021
And by the end of the year, Storytel will appear on the service.
Spotify announced on the acquisition of Findaway, of which Findaway Voices is a maker and distributor of audiobooks for multiple platforms. The company connects creators with voice actors and helps them find audiences.
Audiobooks will add to the service's library, which now consists of music and podcasts. Head of Spotify Audiobooks Nir Zickerman reported The Verge, that this purchase will speed up the addition of a new format to the site, so that users can get all the audio content they are interested in on one platform.
Zickerman emphasized that Findaway Voices, a book scoring platform that allows authors to make their works available to a wider audience, is of great importance to the company. Her support will continue after the completion of the deal.
This isn't the first Spotify initiative to add audiobooks to the service. Earlier this year, the company announced the Spotify Open Access Platform, an option for creators to integrate their subscription content into Spotify. This will allow the user to receive their subscription bonuses directly from Spotify, reducing the number of apps required.
May was announcedthat by the end of 2021, Storytel audiobooks will be available through such a system, and Zickerman noted that even more content should appear on the service in early 2022 thanks to the Open Access Platform.
It is not yet clear what model the audiobooks will be distributed on on Spotify. The deal should be completed by the end of 2021, its value was not disclosed.