Spotify has announced that It will be acquiring audiobook and distribution company Findaway. There is no mention of the acquiring fee by the music streaming company actually.
Findaway is known for handling multiple businesses including distributing audiobooks to other platforms, and audiobook creation. Also, the company provide authors looking for narrators for their work.
Head of audiobooks at Spotify Nir Zicherman, in an interview with The Verge, said
“With this acquisition, we’re going to be able to accelerate the addition of an audiobook catalog onto the platform so that users can effectively get all of the audio content that they want all on one platform,”
At another time, Spotify told TheVerge it will be adding AirPlay 2 support to its iOS app. Despite the delay, the company is “working to make a reality”. Spotify had a poor relationship with the Apple company.
The streaming company has previously accused Apple of Antitrust and Anti-competitive claims. A Spotify community forum initially claimed that Spotify won’t support AirPlay 2. This is because of “audio driver compatibility issues” for iOS.
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However, the streaming company has dismissed those claims and will be supporting the casting system. Apple’s AirPlay is the company’s proprietary version of Chromecast. It’s Siri connectivity, voice control, and sync of its products across speakers, televisions, and streaming services.
It makes sense for Spotify to support Apple’s Airplay 2 considering the bulk of its customers on the platform. Airplay is growing big, not supporting the cast feature would be uneconomical since Spotify supports others.
The recent acquisition of Findaway by Spotify provides another source of revenue for the music streaming platform. Podcasting, audiobook creation is in high demand and that is an opportunity the company is diving into.
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