Spotify acquires audiobook platform Findaway

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Spotify may 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 trying 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 response to its web site. The corporate has partnerships with Apple, Amazon and different retail heavyweights, and likewise 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 mentioned in an announcement 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 celebrity-narrated public area classics, and a Harry Potter audiobook initially of coronavirus lockdowns in 2020. However the acquisition alerts the streaming platform now has a lot higher ambitions within the area. The transfer additionally echoes Spotify’s method to podcasts, as the corporate used quite a lot of acquisitions to construct out its catalog and creation instruments. So whereas it’s to this point 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.All merchandise really helpful by Engadget are chosen by our editorial staff, unbiased of our guardian firm. A few of our tales embrace affiliate hyperlinks. Should you purchase one thing by considered one of these hyperlinks, we might earn an affiliate fee.

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