Spotify Partnership With Syorytel, Audiobooks Are Coming In Some Countries

[RAMROD 117,057]

Swedish audiobook streaming group Storytel (STORYb.ST) has partnered with Spotify (SPOT.N) to allow its subscribers to listen to its library of audiobooks on Spotify from later this year, sending its shares up 12%.

 

Storytel offers listening and reading of more than 500,000 titles across 25 markets and competes with the likes of Amazon's (AMZN.O) Audible.

 

"We think this is a great partnership and a way to get access to more potential audiobook listeners around the world," CEO Jonas Tellander told Reuters. "We are growing at about 30% annually and we are hoping that this will contribute a lot to that."

Storytel has books in 30 languages but is restricted to the country a subscriber is in and the kind of credit cards they use. Spotify is available in more than 150 countries and have 356 million total monthly active users.

 

Storytel, which has roughly 1.6 million subscribers, is working to make its books available in different countries as it has worldwide rights for most of the audiobooks in several languages, Tellander said.

 

However, to access the audiobooks, Spotify subscribers would still need a Storytel subscription.

 

Source:

https://www.reuters.com/technology/storytel-signs-audiobooks-partnership-with-spotify-2021-05-20/

 

 

 

Well..., 

[Magic Mike 2,770]

3 minutes ago, RAMROD said:

However, to access the audiobooks, Spotify subscribers would still need a Storytel subscription.

 

[Lady Adga 8,664]

"However, to access the audiobooks, Spotify subscribers would still need a Storytel subscription".

[RAMROD 117,057]

1 hour ago, Magic Mike said:

 

12 minutes ago, VenusHooker said:

"However, to access the audiobooks, Spotify subscribers would still need a Storytel subscription".

 

IKR, not sure what is the point of this partnership so far