{"id":92401,"date":"2022-08-01T10:00:00","date_gmt":"2022-08-01T09:00:00","guid":{"rendered":"https:\/\/routenote.com\/blog\/?p=92401"},"modified":"2022-08-01T09:23:23","modified_gmt":"2022-08-01T08:23:23","slug":"spotify-buys-findaway-audiobook-service","status":"publish","type":"post","link":"https:\/\/routenote.com\/blog\/spotify-buys-findaway-audiobook-service\/","title":{"rendered":"Spotify buys audiobook platform Findaway for $123 million"},"content":{"rendered":"\n<p>Image Credit: Good e-Reader<\/p>\n\n\n\n<h2 style=\"user-select: auto;\"><span style=\"color: #3366ff; user-select: auto;\">Spotify closed the deal for the audiobook platform Findaway in June in a bid to add a third leg to the Spotify audio stool.<\/span><\/h2>\n\n\n\n<p>Findaway is a platform that allows users to create, distribute and monetize their own audiobooks, reports <span style=\"text-decoration: underline\" class=\"underline\"><strong><a href=\"https:\/\/www.theverge.com\/2022\/7\/28\/23280187\/spotify-findaway-audiobook-podcasts-audible-amazon\" target=\"_blank\" rel=\"noreferrer noopener\">The Verge<\/a><\/strong><\/span>.<\/p>\n\n\n\n<p>In a 2019 announcement, Spotify announced its desire to become the worlds leading audio platform. True to this desire, the company has ventured into podcasts with acuisitions of companies like Anchor and Gimlet. <\/p>\n\n\n\n<p>Now, Spotify has entered into a &#8220;definitive agreement&#8221; to acquire Findaway, a leading company in digital audiobook distribution.<\/p>\n\n\n\n<p>Spotify yesterday revealed (31\/07) that they have purchased Findaway for $123 million to provide critical infrastructure for integrating audiobooks on the Spotify platform.<\/p>\n\n\n\n<p>Spotify CEO Daniel Ek has said that functionality for audiobook content will be arriving on Spotify &#8220;quite imminently&#8221;. Furthermore, the company has stated that its service will operate differently from that of Amazon Prime, which is currently the leading audiobook platform.<\/p>\n\n\n\n<p>For example, subscribers to Audible pay $14.95 per month for one monthly credit and that one credit gets them one book. <\/p>\n\n\n\n<p>We don&#8217;t yet know if Spotify premium subscribers will have unlimited access to audiobooks. However, the content and ad business chief Dawn Ostroff has indicated that there will be an ad-supported tier.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p>It\u2019s Spotify\u2019s ambition to be the destination for all things audio both for listeners and creators. The acquisition of Findaway will accelerate Spotify\u2019s presence in the audiobook space and will help us more quickly meet that ambition.<\/p><cite>Gustav\u00a0S\u00f6derstr\u00f6m, Spotify\u2019s Chief Research &amp; Development Officer<\/cite><\/blockquote>\n\n\n\n<p>While investors are disappointed that Spotify&#8217;s investments in podcasting\u00a0are yet to pay off, Spotify is always looking to find new avenues to achieve its dream of being the worlds leading audio platform. <\/p>\n\n\n\n<p>One recent acquisition of note is that of Heardle. <span style=\"text-decoration: underline\" class=\"underline\"><strong><a href=\"https:\/\/routenote.com\/blog\/spotify-buys-music-trivia-game-heardle\/\">Spotify purch<\/a><a href=\"https:\/\/routenote.com\/blog\/spotify-buys-music-trivia-game-heardle\/\" target=\"_blank\" rel=\"noreferrer noopener\">a<\/a><a href=\"https:\/\/routenote.com\/blog\/spotify-buys-music-trivia-game-heardle\/\">sed the music trivia game<\/a><\/strong><\/span> in a bid to utilise the musical discovery element of the platform itself.  <\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<p class=\"has-text-align-center\"><span style=\"text-decoration: underline\" class=\"underline\"><strong><a href=\"https:\/\/routenote.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">It&#8217;s never been easier to distribute your music as an independent artist. RouteNote will distribute your music globally while you keep 85% of all revenue.<\/a><\/strong><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Image Credit: Good e-Reader Spotify closed the deal for the audiobook platform Findaway in June in a bid to add a third leg to the Spotify audio stool. Findaway is a platform that allows users to create, distribute and monetize their own audiobooks, reports The Verge. In a 2019 announcement, Spotify announced its desire to become the worlds leading audio platform. True to this desire, the company has ventured into podcasts with acuisitions of companies like Anchor and Gimlet. Now, Spotify has entered into a &#8220;definitive agreement&#8221; to acquire Findaway, a leading company in digital audiobook distribution. Spotify yesterday revealed&#8230;<\/p>\n","protected":false},"author":29,"featured_media":92403,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1,11109],"tags":[825],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.4.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Spotify buys audiobook platform Findaway for $123 million - RouteNote Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/routenote.com\/blog\/spotify-buys-findaway-audiobook-service\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Spotify buys audiobook platform Findaway for $123 million - RouteNote Blog\" \/>\n<meta property=\"og:description\" content=\"Image Credit: Good e-Reader Spotify closed the deal for the audiobook platform Findaway in June in a bid to add a third leg to the Spotify audio stool. Findaway is a platform that allows users to create, distribute and monetize their own audiobooks, reports The Verge. In a 2019 announcement, Spotify announced its desire to become the worlds leading audio platform. True to this desire, the company has ventured into podcasts with acuisitions of companies like Anchor and Gimlet. Now, Spotify has entered into a &#8220;definitive agreement&#8221; to acquire Findaway, a leading company in digital audiobook distribution. Spotify yesterday revealed...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/routenote.com\/blog\/spotify-buys-findaway-audiobook-service\/\" \/>\n<meta property=\"og:site_name\" content=\"RouteNote Blog\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-01T09:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-08-01T08:23:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/routenote.com\/blog\/wp-content\/uploads\/2022\/08\/Spotify-buys-audiobook-platform-Findaway-for-123-million-RouteNote-Blog.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Connor Edney\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Organization\",\"@id\":\"https:\/\/routenote.com\/blog\/#organization\",\"name\":\"RouteNote\",\"url\":\"https:\/\/routenote.com\/blog\/\",\"sameAs\":[],\"logo\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/routenote.com\/blog\/#logo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/routenote.com\/blog\/wp-content\/uploads\/2020\/11\/routenote-logo.jpg\",\"contentUrl\":\"https:\/\/routenote.com\/blog\/wp-content\/uploads\/2020\/11\/routenote-logo.jpg\",\"width\":1000,\"height\":1000,\"caption\":\"RouteNote\"},\"image\":{\"@id\":\"https:\/\/routenote.com\/blog\/#logo\"}},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/routenote.com\/blog\/#website\",\"url\":\"https:\/\/routenote.com\/blog\/\",\"name\":\"RouteNote Blog\",\"description\":\"The World of Digital Music - 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