From Music Business Worldwide · · 1m 40s
Spotify Audiobooks Hits $100M Revenue
Spotify's audiobooks add-on now generates over $100 million annually as it expands to 180 markets.
In brief
Spotify's audiobooks add-on now generates over $100 million annually as it expands to 180 markets. Spotify's Audiobooks+ add-on has reached $100 million in annual recurring revenue and will expand to 180 markets by late 2026. Originally reported by Music Business Worldwide.
Spotify's Audiobooks+ Revenue Milestone
Spotify's audiobooks add-on, Audiobooks+, has passed USD $100 million in annual recurring revenue just over a year after its launch.
Expansion to 180 Markets by 2026
Spotify plans to take audiobooks from 22 markets to more than 180 by the end of 2026, including Japan, India, South Korea, Indonesia, and Brazil.
750 Million Users Reach
Spotify said more than 750 million people will be able to stream or buy books once the rollout is complete.
1 Million Subscribers
Audiobooks+ has more than 1 million subscribers, a milestone Spotify first reported in May.
Premium Users Pay More
Spotify has pointed to Audiobooks+ as the first payoff from a strategy to get its most engaged users to pay more through add-ons.
US Market Share
Co-CEO Alex Norström said Spotify had taken roughly 20% of the US audiobooks market within a couple of years.
Listening Growth
Monthly audiobook listeners grew by nearly 40% over the past year, while listening hours rose by more than 30%.
Market Access
In markets across Africa and Asia, as well as Argentina, Audiobooks+ will be the primary way to access audiobooks.
12 Hours Monthly
In new markets, eligible Premium subscribers will get 12 hours of listening a month as part of their plan.
In short
Spotify's Audiobooks+ add-on has reached $100 million in annual recurring revenue and will expand to 180 markets by late 2026.
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