Spotify launches audiobooks for us users

Music streaming giant Spotify announced Tuesday the launch of audiobooks for U.S. listeners. With the launch, millions of U.S. Spotify users will be able to listen to more than 300,000 different audiobook titles.

The move puts Spotify in direct competition with Amazon-owned Audible. Spotify listeners in the U.S. will be able to listen to more than 300,000 audiobook titles starting today, making our platform a true all-in-one destination for everyone listening needs. We're excited to launch audiobooks with a brand-new user interface that is geared specifically for listening to audiobooks and fits seamlessly alongside the music and podcasts you already listen to and love. The foray into audiobooks is part of Spotify's effort to expand beyond just music streaming and make its platform a one-stop shop for all things audio. In July, we covered Spotify when it acquired Wordle-inspired music recognition trivia gaming startup Heardle to expand into games and make its app more interactive.

With this launch, US users who are interested in listening to audiobooks can easily find them on Spotify alongside music and podcasts as a section in their library, in search, and in their curated recommendations on Home.

Nir Zicherman, Spotify's vice president and global head of audiobooks and gated content, said in Tuesday s release that the company decided to introduce audiobooks because they represent a substantial untapped market. Zicherman said the segment is growing by about 20% over the year despite making up just 6% to 7% of the current book market.

Spotify was founded in 2006 by Daniel Ek and Martin Lorentzon. Spotify promised high-margin returns from its expansion into podcasts and audiobooks, which was further incentivised by its customers.