Spotify is continuing its trend of rewarding its users for engaging with the service. By eliminating the distribution fee for audiobooks purchased on Spotify, Findaway Voices is providing independent authors with an opportunity to get their books more attention.
Spotify is seeing increased success in courting independent authors to its platform with the allure of higher earnings. The change means that the company now offers audiobooks authors can make up to 95% royalty on sales through Findaway Voices. Previously, this figure was set at 70%. While independent authors may see a small increase in earnings as a result of this shift, Spotify remains primarily focused on drawing large-scale publisher-affiliated authors onto its platform.
The decision by Spotify to no longer charge a distribution fee for audiobooks will be a welcome change for authors who have been struggling to earn a profit from their work. Previously, authors who wanted their books to be available on Spotify had to pay an additional 20% distribution fee, which made it difficult for them to make any real money from the platform. With the removal of this fee, authors will be able to focus more of their attention on promoting their work and generating greater word-of-mouth buzz online.
Spotify has been making moves to support authors, and today’s news includes plans to make its platform more appealing for them. With enhancements like the addition of author presence on song playlists and improved tools for monetization, Spotify says it is at the beginning of its journey to becoming a powerful supporter of independent authors.
Since its inception, Spotify has been dedicated to providing its users with an ever-expanding selection of music and podcasts. In September of last year, the streaming service launched a partnership with Audible to provide audiobooks for US users. The initial launch included 300,000 titles. Audiobooklistening is expected to grow significantly in the coming years as Spotify looks to establish itself as the go-to streaming service for audiobooks.
Spotify is a popular audio app that enables users to listen to music offline and across devices. The app has a standard set of features, including the ability to rate titles, adjust playback speed and listen across devices.
Spotify’s audiobooks service grew rapidly in 2018, with the company announcing that it had expanded to the United Kingdom, Ireland, Australia and New Zealand last November. It then came to Canada in March. So far, Spotify has not released any metrics about its engagement with audiobooks on its platform, but it seems that users are enjoying the option.