Spotify Takes On Amazon's Audible, To Let Premium Users Listen To 15 Hours Of Audio Books
Portfolio Pulse from Ananya Gairola
Spotify Technology SA (NYSE:SPOT) has introduced a new feature for its Premium subscribers, offering access to up to 15 hours of audiobooks each month. The service, initially launched in the U.S. in September 2022, will be available in the U.K. and Australia, with a U.S. launch scheduled later this year. The move is seen as a challenge to Amazon Inc.'s (NASDAQ:AMZN) Audible, which uses a credit system for audiobook access.
October 04, 2023 | 3:46 am
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POSITIVE IMPACT
Spotify's new audiobook feature could attract more Premium subscribers, potentially boosting its revenue.
The introduction of audiobooks could make Spotify's Premium subscription more attractive to potential subscribers, potentially leading to an increase in revenue.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Spotify's new audiobook feature could pose a challenge to Amazon's Audible.
Spotify's new feature could attract some of Audible's customers, potentially impacting Amazon's revenue from its audiobook service.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70