SPOT - Spotify Set to Deepen Audiobook Ambitions: Free Trials for Paying Subscribers | Benzinga
To diversify its offerings, Spotify Technology S.A. (NYSE: SPOT) plans to introduce a monthly pilot program that offers up to 20 hours of free audiobooks to its paying subscribers.
The company is collaborating with major U.S. publishers on this initiative, which aims to compete with incumbent audiobook platform Audible and assess customer interest in audiobooks, the Wall Street Journal reports. Spotify, looking to bolster its profitability, is eyeing the growing audiobook market alongside its core music streaming business.
This move follows Spotify's recent premium individual plan price hike to $10.99 monthly in