A PYMNTS Company

Spotify Moves Into Audiobooks With Findaway Buy

 |  November 12, 2021

Spotify has announced plans to acquire the audiobook services and distribution company Findaway for an undisclosed price, reported The Verge.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The company operates multiple businesses, including distributing audiobooks to various platforms and offering audiobook creation services under its business Findaway Voices.

    The company pairs authors with narrators, which could become a new and valuable source of revenue for Spotify.

    It also makes Spotify both a commercial bookseller and a publisher of audiobooks, a title the company has been hesitant to accept for its podcasting efforts.

    “With this acquisition, we’re going to be able to accelerate the addition of an audiobook catalog onto the platform so that users can effectively get all of the audio content that they want all on one platform,” says Nir Zicherman, head of audiobooks at Spotify, in a chat with The Verge.