Spotify Announces Acquisition of Audiobook Leader Findaway
Together, Spotify and Findaway will accelerate Spotify's entry into the audiobook space and continue to innovate the industry, working to remove current limitations and unlock better economic tools for creators.
Findaway's technology infrastructure will enable Spotify to quickly scale its audiobook catalog and innovate on the experience for consumers, simultaneously providing new avenues for publishers and authors to reach audiences around the globe.
“Together with Spotify we have the opportunity to innovate and democratize the audiobook ecosystem,” said Findaway Founder & CEO Mitch Kroll. “We founded Findaway with the recognition of the power of the spoken word through audiobooks and the unique opportunity to empower storytellers and connect them with listeners. We look forward to combining our leading technology tools and world-class team with the reach of Spotify’s platform to provide an enhanced audio experience for creators, publishers and listeners around the world.”
"[Findaway] Voices currently allows creators to distribute broadly,” said Nir Zicherman, head of audiobooks at Spotify, in a chat with The Verge. “and that is a very important part of the offering and something that we plan to keep and to continue supporting because we think that it’s part of what makes the platform so powerful from a creator standpoint.”