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Spotify originally innovate audiobooks to its pelt medicine platform in September 2022 , followingits acquisition of the digital audiobook electrical distributor Findaway in 2021.Its debut catalogue include around 300,000 titles in the U.S. , then beganexpandingto other English - talk securities industry later in the year , with the gain ofCanada in early 2023 .
The troupe has tout the potential to tap into a maturate market with the plus , noting that audiobooks today are only a 6 % to 7 % share of the wider book market , but the category was growing by 20 % yr - over - class . Plus , Gen Z and millennials lead ingestion of audiobooks , with 72 % of 18- to 34 - year - olds listening .
However , access Spotify ’s audiobooks was a cumbersome process at launch . Because Spotify did n’t desire to share commissions with the app stores on in - app purchase , substance abuser would have to first purchase the titles à la carte via Spotify ’s website before they could mind in - app . This precede extra stair and made it more hard to start up listening . By wad in a certain number of hour with its Premium subscription , the process became more seamless — now you’re able to encounter the book you require and hit play to lead off listening . In improver , if users desire more time , they can buy an extra 10 hours as a “ top - off . ”
The books themselves are discoverable through the Spotify app ’s menage feed or by research for a title . There ’s also an editorially curated selection of popular statute title to surf in the app’saudiobooks hub .
Top titles include young release like Britney Spears ’ “ The Woman in Me ” and Jesmyn Ward ’s “ Let Us Descend , ” as well as those by other popular source , like Janet Evanovich , John Grisham , Stephen King , Colleen Hoover and others , plus musical artists like Willie Nelson and Dave Grohl . Spotify says its catalogue now admit over 70 % of bestselling titles , including books from the fully grown five publisher as well as independent publishing company and authors . The form of address rank across musical style , and also include classics , like Emily Brontë ’s “ Wuthering Heights . ”
With the addition , Spotify hopes its Premium subscription will become more compelling as it will now offer an on - need music catalogue of over 100 tracks and more than 5 million podcasts , as well as the now 200,000 audiobooks .
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In itsmost late fourth part , Spotify grew paying indorser by 16 % twelvemonth - over - year to 226 million and its monthly active users grow 26 % to 574 million — 2 million beforehand of the company ’s prognosis . tax revenue was also up 11 % year - over - twelvemonth to € 3.4 billion ( $ 3.63 billion USD ) , as Spotify benefited from late toll hikes .
