Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizen Alejandro86 for the clue delivery! CTOnews.com, September 9 (Xinhua)-- according to the Wall Street Journal, Spotify is working with some of the largest publishers in the United States on a pilot program to provide free audiobook trials to Premium members. Subscribers can enjoy up to 20 hours of listening time per month and are scheduled to launch in the next few months.

CTOnews.com notes that Spotify bought audiobook platform Findaway for $123 million in 2022 and added about 300000 books last year. Spotify is using free trials to measure customers' interest in listening to audiobooks.

After the acquisition of Findaway, Spotify changed its model and stopped charging a 50 per cent commission, while the Findaway platform charged a 20 per cent royalty, but the company changed its pricing and eliminated the distribution fee for Findaway when users buy audiobooks through Spotify.

Spotify is challenging Amazon's audiobook platform Audible, which accounts for 63 per cent of the audiobook market, according to data disclosed by Wordserated.

Daniel Ek, chief executive of Spotify, said last year: "We believe that many different forms of audiobooks will be a huge opportunity."

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