Spotify invests over $1M to grow its catalog of non-English audiobooks

Spotify Declaration On Friday, it is planned to invest € 1 million – or about $ 1.1 million to increase the audiobook production in the language other than English and the Dutch.

The investment indicates that Spotify is interested in the title of more non-English in its limited library because it tries to compete with major players like Shrutimdhu $ 8.7 Billion Global Audiobooks MarketThe

Adoption in France and the Netherlands is especially slow, which is why Spotify is starting with these languages.

According to the company, less than 3% of the French language book in French language book audio format with only 20,000 audio books in France compared to about 750,000 physical titles. In the Netherlands, about 15,000 Dutch audioboxes are found outside a physical library titled 209,000.

Organization Opened This is its audiobook service in France and Benelux regions last October.

Slow adoption by believing spotify can probably be attributed to high production expenditure, which can prevent publishers from converting their written tasks into audio formats.

The agency has stressed, despite the promise of working with human descriptors, spotify recently Agenlab As an expensive solution to encourage authors to reveal AI-Acquisified content. However, the use of AI description raised concerns among the publishing community.