Spotify has reported that 25% of its paid users in the US, UK, and Australia have engaged with audiobooks as part of their subscriptions. Among these users, 57% are aged 18 to 34, indicating a strong appeal to younger listeners. The company introduced 15 hours of monthly audiobook listening for eligible subscribers last year. Additionally, Spotify paid out a record nine billion dollars in royalties in the previous year.
Spotify paid out nine billion dollars in royalties last year, a new record for the company. @therealrizkhan and Spotify exec @bryanmjohnson take a deep dive into this figure and the “growing diversity” within the music industry. Full interview here: https://t.co/OtfChhjTl2 https://t.co/NAjgVb1YNX
Spotify’s Music-Audiobook Bundle Means a Lower Royalty Rate for Songwriters, but Company Promises Record Payouts https://t.co/nzy4p731xO via @variety
Spotify's Music-Audiobook Bundle Means a Lower Royalty Rate for Songwriters, but Company Promises Record Payouts https://t.co/N1jIcIKeah
Spotify, $SPOT, has said 25% of paid users in the US, UK and Australia have started an audiobook as part of their subscriptions, per Bloomberg. Of those users, 57% are 18 to 34, suggesting the format is especially appealing to younger generations of listeners.
New: Spotify rolled out 15 hours of monthly audiobook listening to subscribers in the US, UK and Australia last year. The company says 25% of these eligible subscribers started an audiobook as part of their plan. That and more data in my story below https://t.co/tXMJYZPJdo
Spotify said one-quarter of paid users in the US, UK and Australia have started an audiobook as part of their subscriptions, a sign of headway in a growing market https://t.co/7aeRALYnbQ