Spotify acquires audiobook platform Findaway

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

Findaway is an Ohio-based company that boasts a catalog of greater than 325,000 titles, in response to its web site. The company with Apple, Amazon and different retail heavyweights, and likewise makes instruments for audiobook creators. While it’s not but clear how Spotify may combine Findaway’s catalog into its personal service, the company mentioned in a press release that the deal would assist it “quickly scale its audiobook catalog” and create new alternatives for authors and publishers.

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

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