Spotify and Findaway announced in the present day that Findaway Voices, an audiobook distributor for unbiased authors, is eliminating its 20% distribution payment for audiobooks bought on Spotify. The streaming service acquired digital audiobook distributor Findaway again in November 2021.
Findaway says the change signifies that Spotify now gives the very best royalty authors could make when promoting their audiobooks with Findaway Voices. The transfer sees Spotify courting unbiased authors to its platform with the attract of upper earnings.
“We’re excited to announce that beginning in Might, there shall be no 20% Findaway Voices distribution payment for audiobook royalties with Spotify,” the corporate wrote in a blog post. “Findaway Voices pricing construction for audiobook distribution is a quite simple 80/20 share, the place you retain 80% of your royalties. Our standard 80/20 pricing will stay the identical for all different companions—besides Spotify, the place we not cost a 20% distribution payment. When your audiobook is bought on Spotify now you obtain all the 50% of the listing value you set. Authors can discover a new viewers on Spotify who just lately introduced that its world month-to-month energetic listeners at the moment are 515 million robust.”
With this replace, Spotify is making its platform extra interesting for authors. Spotify says it’s at the start of its journey to help unbiased authors, and that it has plans to assist authors increase their attain, maximize income and construct a powerful audiobooks enterprise, and notes that in the present day’s information is a part of this objective.
Over the previous few years, Spotify has been working to increase past music. The streaming service has invested tons of of thousands and thousands to construct out its podcast enterprise, and has been gearing as much as tackle the audiobooks trade. Final September, Spotify launched support for audiobooks for customers in the US. The preliminary launch included 300,000 titles.
Just like different audiobook apps, Spotify gives a normal set of options, together with the flexibility to obtain titles for offline listening, fee titles, modify the playback pace and pay attention throughout units.
Spotify expanded the audiobooks service to the UK, Eire, Australia and New Zealand final November, after which brought it to Canada in March. On the time, Spotify mentioned its catalog has grown to 350,000 titles. The corporate famous that it’s “seeing optimistic engagement,” with out sharing any kind of metrics about what that will appear to be.
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