Spotify is locking horns with Amazon’s Audible, with the launch of its audiobook service within the United States.

Spotify customers within the nation could have entry to over 300,000 audiobook titles, the Swedish agency mentioned in a weblog on Tuesday.

Users will be capable to browse the catalog on the Spotify app and buy by the web site, it added, just like the acquisition of Spotify subscription.

The audiobooks market was estimated at $4.8 billion (roughly Rs. 38,300 crore) in 2021 and was anticipated to develop at about 14 % compound annual development charge to $9.3 billion by 2026, in keeping with media consultancy Omdia.

Spotify has charted an aggressive growth path because it appears to complement its earnings from music streaming with different revenue-generating codecs akin to podcasts, on which it has spent greater than $1 billion (roughly Rs. 8,000 crore) so as to add well-liked names akin to Joe Rogan to its roster.

Last month, Spotify started testing a service that may enable it to promote live performance tickets on to followers. Concert tickets can be offered by way of the Spotify app and a brand new web site, in keeping with a report. Spotify’s web site had reportedly revealed that it will promote tickets on behalf of third events, which might embrace venues and occasion promoters, amongst others.

At the time, Spotify’s web site for promoting live performance tickets was restricted to a collection of US-based concert events. These included concert events for artists like Limbeck, Tokimonsta, and Annie DiRusso. Buyers can be required to create a Spotify account with the intention to purchase tickets, in keeping with the report. The music streaming service had additionally partnered with Ticketmaster, Eventbrite, and See Tickets to promote tickets by way of its newest Live Event Feed, in keeping with report by TechCrunch.

© Thomson Reuters 2022