Spotify has witnessed an impressive surge in audiobook consumption, with an average increase of 470% observed in the week following the release of film or television adaptations of respective titles.
With this, the Swedish company looks forward to bringing new updates to its audiobook-streaming venture in the future.
Notable Adaptations Driving Growth
As reported by The Wrap, Spotify achieved this milestone with the help of several titles that contributed to this skyrocketing record, including James Clavell's "Shōgun," Cixin Liu's "The Three-Body Problem," Danielle Valentine's "Delicate Condition," and Patricia Highsmith's "The Talented Mr. Ripley." Additionally, adaptations like Karen Kingsbury's "Someone Like You" and Erin Doom's "The Tearsmith" have also seen significant traction.
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Expansion of Audiobook Feature
Spotify introduced audiobooks for purchase in the US, UK, and Australia in September 2022, offering listeners access to a vast catalog of over 300,000 titles.
In October 2023, the platform expanded its audiobook feature, providing premium subscribers with 15 hours of free audiobook listening time per month for select titles. This offering has since grown, now encompassing more than 250,000 audiobooks.
International Expansion and Future Plans
The audiobook feature recently expanded to Spotify Premium users in Canada, Ireland, and New Zealand, with plans to establish "Audiobooks in Premium" in these regions. The platform will continue releasing new titles monthly, aligning with their print publishing counterparts.
Since the launch of Audiobooks in Premium in Australia, the UK, and the US, Spotify has disbursed tens of millions in payments to audiobook publishers, who subsequently compensate authors. This could mean that the music streaming platform is fully supporting authors and promoting literary content to a global audience.
Is Spotify's Price Going Up Soon?
In a separate report by The Verge, Spotify planned to implement a new price hike for its subscription package.
The report told us that the cost would increase between $1 and $2 in Pakistan, Australia, and the UK.
By the end of April, two other markets would experience price increases in the Premium subscription. For US listeners, the change is expected to happen in late 2024.
Meanwhile, Tech Times reported that AI-generated prompt-based playlists are now available in Spotify's beta program. Music lovers in the UK and Australia will be the first users to try this AI-based playlist on iPhones and Android devices.
The prompt can be anything, from your favorite color or movie character to your random animals, emojis, and places. The results can come from diverse genres of music spanning decades or more.
With Spotify's initiative to invest in AI, the streaming giant is anticipated to expand. Adapting to AI changes is important if a company wants to keep up with the latest trends in the tech space.
