Spotify closed the deal to acquire audiobook distributor Findaway, touting a “substantial market opportunity” in audiobooks. The company operates AudioEngine, a business-to-business audiobooks marketplace, and self-publishing platform Findaway Voices. According to Spotify, Findaway’s technology gives the company access to the growing audiobooks market — which Spotify execs said is expected to grow from $3.3 billion today to $15 billion by 2027.
Source: Spotify Closes Acquisition of Findaway, Mounting Challenge to Audible in Audiobooks