Spotify mentioned on Tuesday that customers of its premium providers within the UK and Australia would now have 15 hours of free entry to audiobooks a month, with the function increasing to the US later this 12 months.
The music streaming big is seeking to complement its earnings with different revenue-generating codecs equivalent to podcasts and audiobooks. The launch of its audiobook service within the US final 12 months challenged Amazon’s Audible.
Spotify final 12 months laid out plans to get one billion customers by 2030 and attain $100 billion in annual income. The corporate had additionally beforehand promised high-margin returns from its pricey growth into podcasts and audiobooks.
In July, Spotify raised costs for its premium plans throughout a number of nations together with the US and the UK.
The corporate mentioned on Tuesday that subscribers will be capable to select from a list of over 150,000 audiobooks obtainable as a part of the present Spotify Premium subscriptions, with the choice to purchase extra 10-hour allocations as top-ups.
Customers should have a premium particular person account or be the plan supervisor for his or her Household or Duo account in an effort to reap the benefits of this function as of now, the corporate added.
© Thomson Reuters 2023
For the most recent tech information and critiques, comply with Devices 360 on Twitter, Fb, and Google Information. For the most recent movies on devices and tech, subscribe to our YouTube channel.
Reliance Showcases Multipurpose, Swappable Batteries for Electrical Automobiles
