Author Topic: Spotify Buys Findaway  (Read 1428 times)

RBC

Spotify Buys Findaway
« on: November 13, 2021, 08:09:44 PM »
Finally, Spotify should be getting in audiobooks! They're acquiring Findaway which included Findaway Voices etc.

https://techcrunch.com/2021/11/11/spotify-expands-into-audiobooks-with-acquisition-of-findaway/

“With this acquisition, the plan is to accelerate into the audiobooks space by expanding our platform,” said Nir Zicherman, Spotify’s head of Audiobooks. He explained that today, Spotify users tend to go to other platforms to access audiobooks, and it wants to enable that consumption to take place with Spotify’s app itself. Initially, that may see Spotify users leveraging the company’s new Open Access Platform technology (OAP) to authenticate with existing credentials to access audiobooks from Findaway and other audiobook partners, like Storytel.

More broadly, however, OAP offers the flexibility for publishers to determine how their content is sold that works with their own business models, meaning they may introduce a variety of new ways consumers could unlock and listen to audiobook content on Spotify going forward.

The first integrations of OAP are expected to arrive early next year, said Spotify.''

So hopefully this means there will be 381 Million of Spotify users having easy access to audiobooks (even easier than Audible cuz there is no need to download separate app).

Doesn't mean it will make a huge dent in income for indies, but anyway, an upward movement should happen.


Interesting prognosis too:

''According to research estimates, the audiobook industry is expected to grow from $3.3 billion as of 2020 to $15 billion by 2027, which is why Spotify believes Findaway is worth the investment''
 
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PJ Post

Re: Spotify Buys Findaway
« Reply #1 on: November 13, 2021, 10:35:55 PM »
Spotify pays less than a cent per stream: about $0.003 to $0.0084 per stream, with an average payout of $0.004. We'll have to wait and see, but I'm not sure this is good news.

 

RBC

Re: Spotify Buys Findaway
« Reply #2 on: November 13, 2021, 10:55:00 PM »
Spotify pays less than a cent per stream: about $0.003 to $0.0084 per stream, with an average payout of $0.004. We'll have to wait and see, but I'm not sure this is good news.

Well, that's for music, this should be a completely different pay structure. Music streaming is volume business, audiobooks isn't as much.

I doubt anyone would put audiobooks there with that pay otherwise.
 

notthatamanda

Re: Spotify Buys Findaway
« Reply #3 on: November 14, 2021, 12:22:34 AM »
But Spotify is buying Findaway. Whether or not we put our audiobooks on Spotify is a factor of how Spotify decides to handle it. They could decide to leave Findaway as it, run it and add Spotify as box to click and leave us the flexibility to decide based on how much they are paying if we want our audiobooks on Spotify or not. Or they could say they own Findaway now, this is how it is, take it or leave it.

If the Chirp/Findaway/Bookbubs are still free apply for them while you can. Not to be bossy. But they are free so you can't lose if you get one, I don't think.
 
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PJ Post

Re: Spotify Buys Findaway
« Reply #4 on: November 15, 2021, 06:53:21 AM »
Spotify pays less than a cent per stream: about $0.003 to $0.0084 per stream, with an average payout of $0.004. We'll have to wait and see, but I'm not sure this is good news.

Well, that's for music, this should be a completely different pay structure. Music streaming is volume business, audiobooks isn't as much.

I doubt anyone would put audiobooks there with that pay otherwise.

I'm not suggesting audio books will be that cheap, but the music payout does indicate a business tendency/philosophy/preference. If they can find a way to exploit authors in service of an improved stock valuation, I have no doubt they will.
 
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RBC

Re: Spotify Buys Findaway
« Reply #5 on: November 16, 2021, 11:53:02 PM »
Spotify pays less than a cent per stream: about $0.003 to $0.0084 per stream, with an average payout of $0.004. We'll have to wait and see, but I'm not sure this is good news.

Well, that's for music, this should be a completely different pay structure. Music streaming is volume business, audiobooks isn't as much.

I doubt anyone would put audiobooks there with that pay otherwise.

I'm not suggesting audio books will be that cheap, but the music payout does indicate a business tendency/philosophy/preference. If they can find a way to exploit authors in service of an improved stock valuation, I have no doubt they will.

I'm sure they will go for profit but audiobooks and songs are way way too different. One music song stream is not worth much, artists overinflate those because they don't understand it. One audiobook stream is worth more and is a bigger investment. It's a bit like comparing apples to oranges. Thus I'm more optimistic here :)
 

notthatamanda

Re: Spotify Buys Findaway
« Reply #6 on: November 19, 2021, 12:36:36 AM »
From the email from Findaway re: Spotify. No real info on how it will affect authors with audiobooks on Findaway, if we can opt in or not or what the payments will be.

Spotify Audiobooks
Spotify plans to launch audiobooks, but it's still early and the exact details have not yet been announced.

Spotify currently has no plans to offer audiobooks as a singular full-catalog subscription. Just as the Spotify podcast offering differs from the Spotify music offering, the audiobook offering will pursue models that specifically fit listeners' and authors' needs. More details will come closer to a launch.
 
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RBC

Re: Spotify Buys Findaway
« Reply #7 on: November 19, 2021, 12:58:30 AM »
From the email from Findaway re: Spotify. No real info on how it will affect authors with audiobooks on Findaway, if we can opt in or not or what the payments will be.

Spotify Audiobooks
Spotify plans to launch audiobooks, but it's still early and the exact details have not yet been announced.

Spotify currently has no plans to offer audiobooks as a singular full-catalog subscription. Just as the Spotify podcast offering differs from the Spotify music offering, the audiobook offering will pursue models that specifically fit listeners' and authors' needs. More details will come closer to a launch.

Well that sounds like good news. They'd get more profit selling one-off audiobooks so it makes sense not to have subscription.

But we'll see how it plays out of course. Thanks for share!
 

notthatamanda

Re: Spotify Buys Findaway
« Reply #8 on: November 19, 2021, 02:15:02 AM »
You're welcome. I'll be over here being cynical though.  Grin
 
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