Spotify continues to add new players to its cast of audio options. If so far the Swedish company had been promoting the podcast, now it is the turn of the audiobook. Spotify has just signed an agreement with the also Swedish company specialized in audiobooks, Storytel.
With this announcement, Storytel’s streaming audiobook library will be available through the Spotify app. According to the press release, this option will be available by the end of 2021. With this, they will add more than 500,000 titles in different languages. 30 specifically, according to the company.
This deal is undoubtedly exciting for both parties. For Storytel, it represents a total expansion of its business. Present in 25 markets, its business was restricted to purchasing cards in those locations. Now, with Spotify, they extend their coverage to 150 countries, reaching 356 million monthly users.
For Spotify, this pact with the audiobook business is even more interesting. It further shores up its position in the growing streaming audio sector. The Swedish multinational has been closing deals over the last few months in order to continue leading the audio market in all its verticals.
While partnering with Facebook to play music and podcasts directly from the social network, Spotify also launched a remuneration system for content creators. Something similar to Podimo, the podcast application that remunerates the leading voices.
At the same time, podcasting is a trend. All the technology companies are trying to take positions in the sector. Apple, a pioneer in a business that it abandoned for a while, is back on the pulse with a renewal of its brand and image. Exclusive podcasts with well-known voices are once again of interest to them. But also for Spotify, which has invested millions, Amazon with its podcast division and Audible or Podimo. These are the new Podcast Wars.
On the audiobook side, the situation is not much different. The same players who are fighting for the podcast pie are also fighting for the audiobook pie. Apple, Amazon, Google Play star in a sector that was undoubtedly inaugurated by Spotify’s new partner. Storytel’s audiobooks opened and fed a monthly subscription market that barely existed and that generated rejection at first by the publishers themselves. Today, it is they who generate thousands of pieces of content.