Spotify might soon have a lot more audiobooks, the popular streaming service has acquired Findaway according to both companies’ announcements. There is no detailed information regarding the deal, but it appears Spotify is pursuing a strategy of developing its own audiobook collection.
Spotify has acquired an audiobook platform Findaway
Findaway has more than 325,000 audiobooks available on its platform, according to the official website of the firm. It has partnerships with the sector leaders such as Amazon or Apple, the platform also develops tools for the creators.
Although it isn’t clear how Spotify would incorporate Findaway’s collection into its own streaming service, the company stated that the acquisition would allow it to “quickly scale its audiobook catalog” and provide new possibilities for authors and publishers.
This is not Spotify’s first step into the world of audiobooks, during the COVID-19 lockdowns, the Sweden-based company gave access to a Harry Potter audiobook. But the acquisition shows that Spotify wants to go much farther in the field.