Spotify, the popular music streaming service, is expanding its horizons by offering a new treat to its users. Starting now, Spotify Premium users in the UK and Australia can enjoy up to 15 hours of free access to audiobooks every month. This exciting feature will soon be available to users in the United States later this year.
Diversifying Revenue Streams: Audiobooks and Podcasts
Spotify is on a mission to explore additional ways of earning revenue, and audiobooks are their latest venture. By providing audiobooks alongside their extensive music library and podcasts, Spotify aims to enhance user experience and offer more value for their premium subscribers. This move also challenges big players in the audiobook industry, including Amazon’s Audible.
Spotify’s Ambitious Goals
Spotify has set ambitious goals for its future. The company plans to reach one billion users by 2030 and achieve an annual revenue of $100 billion. To accomplish this, Spotify is expanding its offerings and exploring high-margin ventures, such as podcasts and audiobooks.
Subscription Details: What Users Can Expect
Spotify Premium subscribers can dive into a vast catalog of over 150,000 audiobooks as part of their existing subscription. Additionally, users have the option to purchase extra 10-hour allocations if they need more listening time. As of now, this feature is available to individual premium account holders or those managing Family or Duo accounts.
A New Chapter for Spotify Premium Users
For Spotify Premium users in the UK and Australia, this new addition opens a world of storytelling and knowledge. As Spotify continues to innovate and expand its offerings, users can expect even more exciting developments in the realm of audio entertainment. Stay tuned for updates as Spotify’s audiobook journey unfolds, promising a richer experience for music and book lovers alike.