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Stain declared Friday, 1 million Eurovay or about 1.1 million Eurovay – or 1.1 million dollars, starting from English and Dutch to increase the production of audiobook in other languages.
Investment indicates that Spotify has more English titles in limited library $ 8.7 billion global audiobooks market.
It has been especially slow to adopt in France and the Netherlands, so Spotify starts from these languages.
According to the company, at least 3% of French-speaking books exist in an audio format, only 20,000 audio in France compared to 750,000 physical titles. In the Netherlands, about 15,000 Dutch audiobiKitabi extract from a physical library consisting of 209,000 headlines.
Company has initiated Audiobook service in France and Benelux region in early October.
Spotify believes that slow acceptants can be attributed to high-cost costs, which make the publishers write written works into sound formats.
Despite the company, which stresses the commitment to work with human narrators, the recent spotify Onelabs As an effective solution to encourage authors to publish the narrated content of the AI. However, the use of the AI narration raised concerns within the Publishing Community.
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