Spotify acquires audiobook platform Findaway

Karissa Bell

Spotify might quickly be dwelling to much more audiobooks. The streaming service has acquired audiobook platform Findaway, the businesses introduced. Phrases of the deal weren’t disclosed, however the acquisition suggests Spotify is seeking to construct out its personal library of audiobook titles.

Findaway is an Ohio-based firm that boasts a catalog of greater than 325,000 titles, in accordance with its web site. The corporate with Apple, Amazon and different retail heavyweights, and in addition makes instruments for audiobook creators. Whereas it’s not but clear how Spotify would possibly combine Findaway’s catalog into its personal service, the corporate stated in a press release that the deal would assist it “rapidly scale its audiobook catalog” and create new alternatives for authors and publishers.

The acquisition isn’t Spotify’s first foray into audiobooks. The corporate has beforehand experimented with a handful of public area classics, and a audiobook in the beginning of coronavirus lockdowns in 2020. However the acquisition indicators the streaming platform now has a lot better ambitions within the area. The transfer additionally echoes Spotify’s strategy to podcasts, as the corporate used a to construct out its and creation instruments. So whereas it’s up to now unclear what precisely Findaway means for Spotify subscribers and would-be audiobook listeners, it appears there are much more audiobooks within the firm’s future.

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