Today, Spotify and Findaway Voices, an independent author audiobook distributor, eliminated their 20% distribution charge for Spotify audiobooks. Instead, the streaming service bought digital audiobook distributor Findaway in November 2021.
Spotify now gives the highest royalties for Findaway Voices audiobooks, according to Findaway. In addition, Spotify lures freelance authors with increased revenue.
“We’re excited to announce that starting in May, there will be no 20% Findaway Voices distribution fee for audiobook royalties with Spotify,” the business noted in a blog post. “Findaway Voices audiobook distribution pricing is a simple 80/20 share, where you keep 80% of your royalties. Except for Spotify, we will keep our 80/20 price.
Spotify pays you 50% of the list price for your audiobook. Spotify reached 515 million monthly active users, giving authors a new audience.
Spotify’s upgrade attracts authors. Today’s news is part of Spotify’s goal to assist independent writers in growing their reach, income, and audiobook business.
Spotify has been expanding beyond music for years. The streaming service has spent hundreds of millions on podcasts and is ready to challenge audiobooks. Spotify added US audiobook support in September. Three hundred thousand titles launched.
Like other audiobook applications, Spotify lets you rate, download, alter playing speed, and listen across devices.
Spotify added audiobooks to the UK, Ireland, Australia, and New Zealand in November and Canada in March. Spotify claimed 350,000 titles at the time. The corporation reported “positive engagement” without providing measurements.