(Pocket-lint) - Spotify has made it abundantly clear that it is targeting the audiobook market in a major way, as part of its announcements for its 2022 investors' day.
The discussion comes on the back of Spotify's still-in-progress acquisition of Findaway, a platform that lets creators distribute their own audiobooks directly, but it sounds like its ambitions run higher than just that.
Interestingly, various talking heads from Spotify confirmed that the model in mind is still "Freemium", like its basic music streaming, so users could theoretically access books with ad breaks without paying.
That's pretty much the opposite of how things work on an existing platform like Audible, but could be an interesting disruption in a market full of surprisingly expensive audiobooks.
Part of the allure for Spotify is that audiobooks apparently account for half of the overall book market in terms of revenue, so there's certainly a slice of the pie to be carved out if it can stick the landing.
You can read a lot more detail from Spotify about the initiative thanks to its post with the update, and it's surprisingly frank and technical. How long it takes for Spotify to actually get some books in front of people will remain to be seen.