Spotify came for your music, then it came for your podcasts. And now it’s coming for your audiobooks.
Everything you NEED to know about Spotify audiobooks
Spotify is continuing its mission to stream all types of audio, especially those that don’t require royalty payments to record labels. In a presentation last week, Spotify CEO Daniel EK outlined the company’s plans to expand into audiobooks. The move will build on Spotify’s acquisition of Findaway, an audiobook platform, last year. That sounds like great news for listeners, but what about authors?
"Spotify, to me, doesn't have a great track record of nurturing creators, so as an author, I would be concerned about the compensation model," author and podcaster Todd Cochrane told Lifewire via email. "How does a platform with a flat monthly fee compensate an author in a way that's comparable to Audible, who is the clear king of audiobooks?"
As detailed in Ek’s presentation, Spotify’s mission is to make all kinds of audio available everywhere. The company’s policy is “ubiquity,” or making it easy to listen to Spotify on your phone, in your car, or even on a speaker with the service built in. It started with music, but now your monthly subscription includes podcasts and Spotify-exclusive audio shows, which Spotify also, somewhat confusingly, calls podcasts.