Over 25% of Spotify users in the US, UK, and Australia listen to audiobooks

Spotify has announced that a quarter of its subscribers in the US, UK and Australia have switched to audiobooks, demonstrating interest in this book format.

Here's What We Know

Since October last year, Spotify has been offering its subscribers the opportunity to listen to audiobooks for up to 15 hours a month as a strategy to attract new customers. This feature is available in six markets, including Canada and Ireland.

According to Spotify, about 57% of users who have started listening to audiobooks are aged 18 to 34. This indicates that the younger generation is actively using this format of entertainment.

In addition, the company noted an increase in the number of hours of listening to audiobooks after the launch of the feature, which allows users to purchase additional time if they have exhausted their monthly limit. According to a Spotify spokesperson, such purchases have "more than doubled" since the first quarter of this year compared to the same period last year.

The company wants to expand the number of authors and books to draw more attention to audiobooks among users. It also plans to increase cooperation with publishers.

Source: Bloomberg