See Also:Apple In Trouble As Spotify Chief Canvasses EU To Heighten Regulatory Action Against The iPhone Maker. Terms and If it comes as a surprise that Spotify, home to more than 4.4 million podcasts, is entering the audiobook market, all one has to do is look at the numbers. Spotifys entry prices are competitive against smaller platforms, slightly more expensive than Amazon Inc.s (NASDAQ:AMZN) Audible and well above Apple Inc. (NASDAQ:AAPL) and Alphabet Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG), Patterson noted. Subscription services from Amazons Audible and audiobooks.com are based on credits (1 credit per book). Both services cost $14.95 per month for access to top titles. Apple and Google offer audiobooks for purchase, with popular titles normally priced at $15 or more. Yes, audiobooks will cost extra, even for Premium listeners. Note: When selecting an audiobook, sometimes they'll be listed as podcasts. WebAudiobooks. Spotify, for instance, can use an external link to direct users to sign up for a premium account subscription. Of course, family audiobooks and free audiobooks for kids are perfect for road trips, and budget-minded folks seek out free audiobooks. Monthly subscription fee applies after. Ratings and prices are accurate and items are in stock as of time of publication. You cant buy Spotify audiobooks directly from the mobile app, but if youre away from your laptop, you can use Once youve purchased the book, itll be available across devices logged in to the same account. Currently tapping the locked play button shows Want to listen? Outside of restrictions, audiobooks on Spotify are very expensive. Earlier this year, CEO Daniel Ek told investors that he believes audiobooks will be an area of growth for the company. WebListen to your music offline and ad-free. Spotify Opens Its US Audiobooks Offer: 300,000 Titles. He said: Well learn a lot through this launch and leverage those learnings as we enhance the experience with new features, plan for launches in additional markets, and innovate on the format to benefit listeners, authors, and publishers.. Step 4: Select the Audiobooks card under Browse all. GetReaders DigestsRead Up newsletterfor more humor, cleaning, travel, tech and fun facts all week long. We recommend our users to update the browser. But the concern is that you would get so much less per unit that it would ultimately depress revenues.. Zicherman made it clear that this is just the first iteration of audiobooks on Spotify. Ella is also a big supporter of student media and writes for her universitys newspaper as well as hosting her own show on the radio station. How should you decide which one to use? Spotify wants to make audiobooks the next pillar of its business. Martins Game of Thrones. Step 10: After selecting Buy, you'll be prompted to enter your payment information. Audiobooks will show up on Spotify with a lock icon on the play button, which means they must be purchased in order for you to listen. Step 7: From here, a pop-up will appear informing you that you can't purchase audiobooks directly from the app. Audiobooks are available to browse and purchase for all Spotify Free and Premium members, however purchases can only be made on a web page. Unlike music and podcasts, Spotify's audiobooks aren't free, so you'll need to pay up before you can start listening. Now, Spotify has added audiobooks to the mix of its offerings alongside music and podcasts, opening the door for subscribers to ditch other audiobook players in favor of sticking with one app for all of their audio needs. Unfortunately, Spotify's integration of its audiobooks with the rest of its content leaves a little to be desired. When the program launched on Sept. 20, it featured 300,000 audiobook titles, with more to be added. Once the purchase was made, the title would become available for listening in the app. Listening to audiobooks is a great way to keep up with the most recent releases while not having to commit to sitting down with a physical book. Apple very gently loosened its rules earlier this year, allowing reader apps to link to the web in certain circumstances. Select it. Like music and podcasts, different audiobooks will be grouped together here based on shared attributes such as topic or author. Down 36% From Its High, Is Alphabet Stock a Screaming Buy Right Now? Regardless of whether you're listening to A Song of Ice and Fire or I'm Glad My Mom Died (which is listed on Spotify for $13.99), you'll likely be racking up a large bill if you're an avid audiobook listener. Spotify dont directly say the reason for this additional layer, but in a blog post, they call out Apples App Store rules. Note that for now, audiobooks on Spotify are only available in the United States. Ella is the Head of Content at Freshered and also works a freelance journalist at GRV Media, writing for HITC and Reality Titbit. The presentation cryptically teased businesses X, Y, and Z for the future. Step 2: Select the Search tab at the bottom of the screen. 2022 Vox Media, LLC. At issue seems to be Apples rules around in-app purchases. Can I still access my Spotify Wrapped 2022? Spotify Audiobooks vs. the Competition. To purchase on mobile or tablet, youll need to head to open.spotify.com. © 2022 RouteNote Blog. Spotifys presentation posited that the market is even bigger, worth possibly more than $9 billion, based on a report by Grand View Research. Now, users have to go to Spotifys audiobooks hub in a web browser or through the desktop app in order to make a purchase. Spotify will also be allowing listeners to control the speed of audiobooks by providing a variety of options to speed up or slow the pace of reading. Below are the three titles at the top of the Whats new page in the UK, with prices on Spotify, Apple Books and Audible (Amazon). In terms of audibook pricing, it varies from book to book, but based on a quick look at some of the ones that Spotify is pushing on the landing page of its new audiobook section, there are some easy-to-identify trends most books cost around or over $20. The new feature is being launched with a brand-new user interface that is geared specifically for listening to audiobooks, according to the press release. In Feature Articles by Porter Anderson September 20, 2022 Leave a Comment. On the desktop or mobile app, the process is similar: Tap the search bar and then either look for a specific book or author, or browse the audiobook collection. You cant buy audiobooks in the app. What Happened: Commenting on the development, KeyBanc Capital Markets analyst Justin Patterson reiterated an Overweight rating and a $148 price target for Spotify shares. Earlier this year, CEO Daniel Ek told investors that he believes audiobooks will be an area of growth for the company. Select the green Buy audiobook button. Update October 27th, 5:20PM ET: This story has been updated with comment from an Apple spokesperson. As Spotifys new audiobooks However, the deal is still under review by the Department of Justices antitrust division. create, distribute, and monetize their work, Elon Musk says Tim Cook told him Apple never considered removing Twitter, Twitter will recommend more tweets to everyone, even if you didnt ask for them, LastPass' latest data breach exposed some customer information. If that is the case, it would be a massive change for the industry. The Spotify app is usually updated weekly; this is its first update in over a month. GRV Media Ltd, 18 Mulberry Avenue, Widnes. So what does that mean for the publishing industry? 2022 Vox Media, LLC. Step 1: Open the Spotify app on your phone. In June, Spotify bought audiobook company Upgrade your lifestyleDigital Trends helps readers keep tabs on the fast-paced world of tech with all the latest news, fun product reviews, insightful editorials, and one-of-a-kind sneak peeks. This article first ran in Hot Pod Insider, The Verges audio industry newsletter. library, and in their curated recommendations on the home page. US listeners can find audiobooks on Spotify alongside music and podcasts as a section in search, in their. With the acquisition of Findaway, Spotify plans to make audiobooks the third pillar of its business. Go to the Spotify Web Australian court dismisses suit against Google over personal data use, Registration on or use of this site constitutes acceptance of our. They said: Weve been working to create a seamless audiobooks experience, and well continue to build and innovate on this in the future.. That means Spotify would either have to eat the fee or raise prices either of which would make it challenging to compete with Apples own Apple Books store, which isnt subject to the same cut. If you're looking to discover new audiobooks, continue to the next step. Sign up for Verge Deals to get deals on products we've tested sent to your inbox daily. The Spotify app was rejected for not following the guidelines regarding including explicit in-app communications to direct users outside the app to make digital purchases, Dema said. 77% of retail CFD accounts lose money, Top 5 stories of the week: Google Sheets adds ML, AWS eyes trends, ChatGPT dangers and more, Alphabet, Workday, CrowdStrike among top tech picks for 2023, Cramer's lightning round: Alphabet is not making enough money, S&P 500 Loses Ground This Week Ahead Of Fed Interest Rate Decision: What Investors Need To Know, 7 Semiconductor Stocks to Buy and Hold Forever, 5 Streaming Stocks With Takeover Targets on Their Back. With royalties inching higher, the company is relying on spoken word content like podcasts to turn larger profit margins over time. / A newsletter with news, analysis, and commentary on the growing podcast industry. Your guess is as good as mine as to what those could be. Check your email account for an email from Spotify and open it. Secondly, it will take meaningful audiobook sales to move the needle, Patterson added. You cant buy audiobooks in the app. Independent and self-published authors can find distribution through Spotifys partner Findaway Voices. The analyst currently estimates audiobook sales of over two million units in the fourth quarter. Audiobooks on Spotify expands to more countries, but with no way to purchase on mobile and expensive titles, who is this feature for? All Rights Reserved, By submitting your email, you agree to our. 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Dema said that Apple has no issue with reader apps apps like Spotify and Netflix that offer access to a catalog of content linking users out to websites to sign up for services, or communicating with customers externally about alternative purchase options. He did not respond to a question about why Spotifys emails to users about audiobook purchase options do not comply with that guidance. Audiobook prices range from $3 for shorter works like childrens books, up to about $40 for sagas like George R.R. The audiobook market was worth $1.6 billion in 2021. Instead of it working as a subscription (e.g you pay a set price every month), you will pay for each individual audiobook. One thing to note, though: the Findaway deal has not actually closed yet. If you already subscribe to a competing audiobook subscription like Amazon's Audible, you may find that Spotifys (It is worth noting the figures are not exactly apples to apples: the APA report is based mostly on North America, and the Grand View number is global.) Conducted by Edison Research, the study found that the audiobook market grew by 25 percent in 2021 to $1.6 billion, which would make it slightly larger than the $1.45 billion podcast market that same year. Currently, the feature is only available to US listeners, and is available at an extra cost, even for Premium subscribers. For now, Audiobooks on Spotify can only be purchased in the Spotify Web Player, but you can listen in the app once youve unlocked a title. Head to open.spotify.com, find an audiobook you want to listen to, and follow the steps to check out. Then head back to the app and start listening. Where can I find my unlocked audiobooks? Even if Spotify helps expand the audiobook market with its creator content and ad-supported listening, there are potential downsides for publishers and authors. We continue to find risk/reward compelling, with shares trading at 1.1x 2023E EV/S, he added. / Sign up for Verge Deals to get deals on products we've tested sent to your inbox daily. Spotify said this week that Apple rejected two proposed fixes before it finally allowed this new interface for audiobooks. Independent artists and labels can find free music distribution through RouteNote. Chapters are listed similarly to the individual episodes of a podcast on the app. Apple spokesperson Adam Dema said Apple gave Spotify guidance on how to bring its app into compliance, and that Spotifys update was approved once the changes were made. Have something to tell us about this article? Instead, you'll need to select Get email. Step 9: You'll be redirected to the browser version of Spotify after selecting Buy audiobook. An Editors Pick section highlights everything from bestselling author Karen M. McManuss Nothing More to Tell to self-help titles like You Owe You: Ignite Your Power, Your Purpose, and Your Why by Eric Thomas, PhD. When Spotifys audiobooks feature launched a month ago, users could not buy titles directly in the app, but they could tap a button that would email them a link to purchase the book on the web. After purchasing an audiobook, it will automatically be saved in your library and available to listen whenever you want. Its complicated, according to Michele Cobb, executive director of the Audio Publishers Association (APA). Her interests lie in news and anything culture related including entertainment, musicals, books, and social media. When they launch the audiobooks vertical (which is TBD), it could have huge ramifications not only for Spotifys own business, but for the publishing industry as well. It allows authors to create, distribute, and monetize their work, and with the acquisition, Spotify will snag a key part of the audiobook ecosystem. Finding audiobooks on Spotify is pretty easy as long as you know where to look. We know, its not ideal with no reason, link or instructions on how to purchase. That exception, apparently, does not extend to buying audiobooks. Step 11: With the purchase complete, head back to the Spotify app, and the audiobook should be unlocked on your account. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Sign up to our newsletter and make sure you don't miss a thing! I'm humbled to have had the opportunity to lead the design for the core experience, and for working with an incredible team to make it real.This is just the beginning. Outside of restrictions, audiobooks on Spotify Yes! Both services cost $14.95 per month for access to top titles. Apple and Google offer audiobooks for purchase, with popular titles normally priced at $15 or more. But at the same time, most of Findaways creators are not exactly going to be the next Sally Rooney, and it is unclear how and at what price top-tier books will be made available on Spotify. Earlier this week, the APA released its 2021 stats on the size of the industry. Spotify has a diverse range of audiobooks, including fiction books, nonfiction books, most-anticipated books, romance novels, historical fictionand mystery books. We know, its not ideal. Theres no indication of where you might be able to buy the book. On the desktop app its a little easier, with a direct link to a payment page. Dema did not respond to a question about why Spotifys audiobook feature was approved in the first place if it was not in compliance with the rules. Music is expensive to operate, with mechanical and publishing royalties Open only to users who haven't already tried Premium. 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If you want access to the entire thing, select the green Play button with the lock on the right side of the screen. Step 6: Once you have an audiobook selected, you'll see that it's broken into discrete sections, usually by chapter, allowing you to start listening at whatever point you like. Add it and then complete your purchase. You will be able to purchase books on a web page, even if you are listening in the app. Your email address will not be published. (new Image()).src = 'https://capi.connatix.com/tr/si?token=38cf8a01-c7b4-4a61-a61b-8c0be6528f20&cid=877050e7-52c9-4c33-a20b-d8301a08f96d'; cnxps.cmd.push(function () { cnxps({ playerId: "38cf8a01-c7b4-4a61-a61b-8c0be6528f20" }).render("6ea159e3e44940909b49c98e320201e2"); }); Unfortunately, audiobooks on Spotify are not free, even if you already pay for a premium membership. Audiobooks do not typically come cheap. Yes, audiobooks will cost extra, even for Premium listeners. Instead of it working as a subscription (e.g you pay a set price every month), you will pay for each individual audiobook. Audiobooks will show up on Spotify with a lock icon on the play button, which means they must be purchased in order for you to listen. Millions of new listeners around the globe will be exposed to audiobooks, which could greatly expand the market. But at the same time, most of Findaways creators are not exactly going to be the next Sally Rooney, and it is unclear how and at what price top-tier books will be made available on Spotify. You can listen in the app once you've unlocked a title. Step 3: If you have a specific audiobook in mind, search for it using the search bar at the top of the screen. Once you find a title you like the look of, you can listen to a sample in the app. This will send an email prompting you to make a one-time purchase for the selected audiobook to the email you have associated with your Spotify account. On September 20th, Spotify launched audiobooks on their platform for listeners in the US, allowing users to access more than 300,000 titles available for streaming. If what youre looking for isnt available yet, check back again soon, as Spotify plans to expand its library in the coming weeks and months. The update follows a statement from Spotify on Tuesday in which the audio streamer accused Apple of choking competition with its app rules for audiobook purchasing. How the model will work is not entirely clear, but it appears that at least some of the audiobooks will be free. Please include a monthly audiobook in the premium membership, even if it's a little more expensive than the normal membership. Offer excludes Family and Duo plans. It was first announced in November 2021, with an expected acquisition date before the end of 2021. Apple Music Sing announced adjustable vocals makes Apple Music a fully capable karaoke machine. Price Action: In premarket trading, Spotify shares were rising 1.28% to $90.28, according to Benzinga Pro data. Apple requires that basically all digital purchases, like audiobooks, run through its own checkout system and give the company a 30 percent cut. We are no longer supporting IE (Internet Explorer), 45 Dystopian Books Thatll Change Your Worldview, Do Not Sell My Personal Information CA Residents. Instead, you're only able to find that information either through a browser version of Spotify or in the email that the app sends you when you're looking to make a purchase. She lives and writes in LA. This would add only less than 20 basis points to gross margin / Sign up for Verge Deals to get deals on products we've tested sent to your inbox daily. The audiobook platform is in many ways like Anchor. Ek said the freemium model will be applied to audiobooks, and content and ad business chief Dawn Ostroff said, Were looking at bringing ad monetization into audiobooks.. Whichever you ultimately go with, Spotifys entry into the audiobook world is sure to be a boon to consumers, thanks to its larger collection of titles and different pricing options. Unlike music and podcasts, Spotify's audiobooks aren't free, so you'll need to pay up before you can start listening. The app no longer indicates how you can buy any of the audiobooks in its store, posing a major roadblock for its new business. While it lauched in the US in September, and is now available in more English-speaking markets: the UK, Ireland, Australia and New Zealand, unfortunately Spotifys audiobook feature isnt ready for mass adoption just yet. Skip As mentioned above, audiobooks don't come free with a Spotify account, which means that you'll need to complete the steps above each time you want to have access to a new book. Over 300,000 audiobooks in the same place you already stream music and podcasts sounds great right? How To Buy Audiobooks On The Spotify App. Spotifys first big step into that business is its acquisition of Findaway, which was announced last year. Spotify dont directly say the reason for this additional layer, but in a blog post, they call out Apples App Store rules. Your email address will not be published. {{^disable_secondary_title}} {{#secondary_title}} {{secondary_title}} {{/secondary_title}} {{^secondary_title}} {{title.raw}} {{/secondary_title}} {{/disable_secondary_title}} {{#disable_secondary_title}} {{ title.raw }} {{/disable_secondary_title}}, 2022 GRV Media Ltd. All Rights Reserved. On Wednesday, company executives pitched the audiobooks business to investors as their next target for industry domination. Nir Zicherman, Spotifys Vice President and Global Head of Audiobooks and Gated Content, told For the Record that while adding a new content format to the service is no small feat, Spotify has already done it before with podcasts so are excited to do the same with audiobooks. And just as weve done in podcasting, expect us to play to win., Just as weve done in podcasting, expect us to play to win.. Citing reasons for the deduction, the analyst said the revenue model for audiobooks is entirely transactional at launch. I think the hope is that you would increase the revenue enough so that everyone gets more, Cobb said. Listen to audiobooks by discovering and unlocking titles on Spotify. Instead of it working as a subscription (e.g you pay a set price every month), you will pay for each This would add only less than 20 basis points to gross margin percentage, he added. The project I've been working on launches today in the US: Audiobooks on @Spotify. Audible, part of Amazon, is currently the audiobook giant, but it seems Spotify is coming for the title. Spotify has also introduced a bookmarking feature for audiobooks with means your place in the book will be saved for when you return to the book. Our view is Spotify will adjust pricing and its model as it learns more from initial user behavior, he said. The Spotify you know and love is getting a lot bigger with the addition of a catalog of What does SOS only mean on iOS 16 and how do you turn it off? As the company improves discovery and selection and refines its model over the medium term, the analyst sees an opportunity for the gross margin to exceed 40% and lift consolidated gross margin into the low- to mid-30% range. You will be able to download content for offline listening just as you would with music and podcasts. Required fields are marked *. On mobile, you can browse audiobooks, sorted by categories such as Fantastic first audiobooks, Whats new, Buzzworthy books, etc. This is part of the companys push to become a one-stop shop for all types of audiomusic, podcasts and now, audiobooks. Ek took it a step further, projecting the market could actually be worth as much as $70 billion. It seems as though Spotifys initial purchase flow where the app told you a book was for sale and would email you a link to buy it on the web wasnt fully in line with Apples strict rules. Lets take a look at Spotifys new audiobooks feature, including the cost, how you can access it, and what Spotify has said so far, Despite the announcement, this is just the beginning for Spotifys journey into audiobooks. There are two ways to search for audiobooks on Spotify. Spotify bought audiobook company Findaway, Warner Bros. The message will tell you how much the audiobook costs. Spotify Technology SA (NYSE:SPOT) launched audiobooks in the U.S. last week. Today, Spotify Is the Home for All the Audio You Love. Sure, you can listen to The Michelle Obama Podcast, Living & Learning with Reba McEntire and other popular podcasts exclusively on the streaming service, but you couldnt listen to audiobooks on Spotifyuntil now, that is. Audiobooks currently represent just 6% to 7% of the total book market, Spotify reported in its new business announcementbut that number has been growing by 20% year over year. It makes sense for Spotify to tap into this rapidly growing market as more and more consumers fall in love with audiobooks. Although that's certainly confusing, you should be able to tell the difference quickly, as podcasts are able to be played for free, while audiobooks that you haven't purchased will be locked until you buy them. Skip to step 6 once you've found and selected the book you're looking for. However, once youve purchased the book, you can download it to various devices to listen to even when youre offline. WebFor now, Audiobooks on Spotify can only be purchased on the web. For Spotify, moving into audiobooks is part of its attempt to become less reliant on music. No search just yet. This would save members having to pay Subscription services from Amazons Audible and audiobooks.com are based on credits (1 credit per book). Finding audiobooks on Spotify is pretty easy as long as you know where to look. For now, while you can search for audiobooks on the app, you can only buy them from a web browser. Sign up for Verge Deals to get deals on products we've tested sent to your inbox daily. A newsletter with news, analysis, and commentary on the growing podcast industry. You'll be able to listen to a short sample of the audiobook for free by selecting the Sample bar that stretches across the screen horizontally underneath the audiobook description. PUSH.fm: Promote your music with free digital marketing tools, What is Qobuz and how to upload your music free, Where is iTunes in 2022? Zan Romanoff is the author of three young adult novels, most recently LOOK, which O: The Oprah Magazine called "one the LGBTQ books that will change the literary landscape. Her nonfiction has appeared in print and online for BuzzFeed, The LA Times and The Washington Post, among other outlets. It looks like Spotify will offer 50% royalties on audiobooks sold through them, which is the same revenue split that traditional audiobook retailers like Barnes and Noble Audiobooks currently represent just 6% to 7% of the total book market, Spotify reported in its new business announcementbut that number has been growing by Weve been testing, researching, and listening to figure out how to create the most seamless experience on Spotify, Zicherman said, our hope is that users who find audiobooks in their apps starting today feel that the user experience is obviousthat audiobooks fit in perfectly with how they already use Spotify.. Now when you go to make a purchase, the app displays a mostly empty screen saying, Want to listen? The analyst currently estimates audiobook sales of over two million units in the fourth quarter. Find an audiobook that you want to listen to and select it. This page should look similar to the in-app version, but now instead of a green Play button on the right side of the screen, you'll see that it's been replaced with a green Buy button. September 20, 2022. It is worth noting that Apple also sells individual audiobooks through its Books app, which can be purchased in-app. In June, Spotify bought audiobook company Findaway for $123 million. Audiobooks could be immaterial to Spotifys performance into the year-end and likely in 2023, too, Patterson said in a note. An update for Spotifys iOS app released Thursday had a big change for its audiobooks vertical and not for the better. Apple and Google offer audiobooks for purchase, with popular titles normally priced at $15 or more. If you like to review books, you will also have the opportunity to rate the audiobook after listening to it. Read more in our FAQs. Step 5: In the Audiobook section of the Spotify app, you'll be able to discover new books based on curated lists. Audiobooks are already fully integrated into the app, but since Spotify doesn't make much of an effort to distinguish different types of content, it can be a little tricky to find them amongst the sea of music and podcasts that the app also offers. All Rights Reserved, By submitting your email, you agree to our. CEO Daniel Ek says it could be a $70 billion opportunity. Digital Trends Media Group may earn a commission when you buy through links on our sites. All rights reserved. Yes, audiobooks will cost extra, even for Premium listeners. To the delight of talking-book fans everywhere, the streaming audio giant announced in mid-September that it would begin offering more than 300,000 audiobook titles for purchase on the platform. Step 8: While the Spotify app won't let you make purchases directly through it, you can still pay for the audiobook on your phone. pic.twitter.com/qIBCWgYd6i. Smaller books tend to fall between $15 and $20, but there are a handful of outliers on both sides of that scale. That said, you're welcome to use a computer for the following steps. Spotifys move into audiobooks is an extension of its goal to move beyond music. We believe that audiobooks, in their many different forms, will be a massive opportunity, Spotify CEO Daniel Ek said. If it isn't, you may have to close the app and open it again to have access. Plus500. Spotify also doesn't tell you the cost of each book upfront in the app. People are busier than ever and appreciate the opportunity to hear celebrities and authors narrate some of the best books, rather than reading them. We are no longer supporting IE (Internet Explorer) as we strive to provide site experiences for browsers that support new web standards and security practices. The rating feature will show the rating of audiobooks publicly, so you can browse and see what is popular before buying and listening. Its fitting, then, that the executive overseeing audiobooks at Spotify is Nir Zicherman, co-founder of Anchor. Every editorial product is independently selected, though we may be compensated or receive an affiliate commission if you buy something through our links. Popular titles like The Lord of the Rings: The Fellowship of the Ring or Michelle Obama's Becoming cost $25.90 and $23.90, respectively, while other big hits like A Game of Thrones: A Song of Ice and Fire: Book 1 and Harry Potter and the Sorcerer's Stone cost $36.90 and $32.90, respectively. Explore. Bizarrely enough, you aren't able to purchase audiobooks directly through the app, so you'll need to have a computer nearby to buy and activate them for your account. In its quest to expand beyond the clunky and expensive music industry, Spotify is not stopping at audiobooks. 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