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The future of audiobooks and AI ’s impact on the publishing industry were points of discussion for HarperCollins , whose chief operating officer , Brian Murray , talk atthe UBS Global Media and Communications Conference on Tuesday . During the event , the exec praised Spotify ’s entry into the audiobooks market and detailed its future growth plans in the blank space . He also touched on how AI technology could both imperil and ache publisher in the days onward .
Of notice , Murray order that audiobookscontinue to outsell einsteinium - booksin terms of full revenues and are helping to offset declines from lag Es - book sales . In terminus of AI , the CEO decline to discuss specific of licensing deals , like the one itsigned with Microsoftfor AI model training , citing NDAs , but stress that it ’s early days for AI licensing , calling it a “ fascinating time ” in the diligence .
He also specifically praisedSpotify ’s entry into the audiobooks space , referencing the 15 minute of free listening that ’s include with a Spotify Premium subscription insupported markets .
“ Spotify entered the market place in a very sassy way , ” Murray explained . “ They had several 100 million listeners of music and podcasts … so it was a very small , adjacent shift for them to monetise the audiobook listener . ” He also pointed out that while Amazon - owned Audible had been able-bodied to monetize the gist audiobook listener , Spotify ’s model tap into the potentiality around the more periodic audiobook listener .
“ You did n’t have to signal up with a full committedness to so many book per year , ” he said . “ You could … do it with your 15 hour free . You could sample . And I think that entrance strategy — I think of , we now have sex a yr later — that entry strategy has been very successful for Spotify , and as a event , we get a little bit of an incremental development in our business in total . ”
Spotify ’s human relationship with HarperCollins , like to Harper ’s deal with Audible , involves a sweeping distribution hatful , which means that the publisher is paid on a consumption base — a per - listen sorting of model , Murray say . That sort of manikin is more direct than the streaming euphony model where a percentage of subscription revenue first goes into a pool and is then paid out to artists . The publisher can tell authors exactly what their royal house will be from audiobooks under this model .
Murray additionally tell there ’s room for growth with Spotify , as the company is mould to adjust a “ technical job ” with sept plans , which currently circumscribe audiobook cyclosis to the family plan ’s credit bill of fare holder . In fourth dimension , Spotify will open up listening to all plan members , he say .
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touch for comment , Spotify said there ’s no proficient consequence , but expanding audiobooks across family architectural plan is something it ’s testing in some markets now .
Spotify has also been expanding audiobooks to more world market , which opens it up for further growth .
Switching gears , Murray then address about the potential difference and business around how artificial intelligence will affect publishing .
Beyond the obvious endangerment associated with IP - based job founded on right of first publication , the publishing house is distressed about generative AI , which could lead to an explosion of low - quality content , compete for consumers ’ time and aid . Still , Murray said he cogitate higher - quality subject matter will ultimately win .
Internally , AI could also help in areas of the business like marketing and selling , and there are already dozens of initiatives across department at HarperCollins where they ’re trying to realize productivity improvements from AI , Murray said .
AI could be useful for audiobooks , too , as it will admit the party to make audiobooks for smaller markets where it could n’t before justify the expensive . Book translations will also expand , opening up more revenue opportunity .
Further down the road , HarperCollins foresees how the technology could help turn playscript into motion-picture show . “ you could suppose taking a ms , pouring it in , and having a picture hand or television hand come out , and then using [ OpenAI ’s ] Sora to storyboard , ” Murray said . “ In terms of … mayhap speed to market or getting concepts — clear concepts — to the professionals in film and tv … that ’s easier to do now . ”
