In 2022, I attended the Frankfurt Book Fair again, and there was once more a lot of new and interesting things to see, and there will be a few articles about it. Because of my musical activities, I've taken some time for this particular article, as I believe something similar to what's happening in the music industry is developing here.
When I visited the Frankfurt Book Fair in October 2022, Spotify's entry into the audiobook market was omnipresent. Okay, audio and Spotify go together, sure, but audiobooks as a streaming service...?
Why is Spotify pushing into the audiobook market?
There are many reasons why Spotify might be interested in the audiobook market. One possible reason is that the audiobook market has grown significantly in recent years, with many people viewing audiobooks as a convenient way to listen to books. By entering the audiobook market, Spotify could have the opportunity to tap into a new revenue stream and expand its offerings for users. It's also possible that Spotify is trying to position itself in a segment less affected by competition from other music streaming services. However, I can't say for sure why Spotify is specifically pushing into the audiobook market, as I have no information about Spotify's strategies and objectives.
Does Spotify have similar copyright issues with audiobooks as it once did with music?
It's possible that Spotify faces similar copyright issues with audiobooks as it does with music. In both cases, Spotify needs to acquire the rights to the content it offers from the creators or their representatives. This can sometimes be difficult, especially when negotiating licenses with various creators and publishers. It's also possible that copyright compliance issues arise when users upload or share audiobooks they don't own or have permission to use. Spotify may have implemented measures to ensure copyright compliance for the audiobooks it offers, but I have no information on whether it has any specific problems in this area.
An audiobook, also known as a listening book, is a recording of a book available on a medium such as CD, MP3, or digital file. Often read by professional narrators or actors, audiobooks offer a convenient way to enjoy books while engaging in other activities, such as driving or exercising. They can be purchased in various ways, including libraries, bookstores, or online platforms like Audible or Spotify. It's possible that Spotify added audiobooks to its service to expand its offerings for users and perhaps also to tap into a new revenue stream.
"THE PLAYLIST" mini-series on Netflix - Spotify and the copyright issue
The Netflix miniseries "The Playlist" tells the origin story of Spotify. But it's not just that; each episode tells the same story, but from a different perspective. I couldn't help but think of this series when I became aware of Spotify's ambitions in the audiobook sector. What was originally intended as a platform for artists/musicians and music lovers, facilitating direct contact with the artist and direct payment, was quickly overtaken by reality and copyright issues. These rights belonged to the record labels, and this marked the beginning of what we all so readily use for a small fee.
It would be a shame if publishers made the same mistakes as the music industry, which, while able to reduce many of its costs per release through digitization and generate more revenue through digital markets, continues to pay mere pittances per stream in this model, even though streaming is supposed to improve everything, including for independent artists.
It remains to be seen whether more of the profits will eventually go to the creators, because under the current model, only two parties really profit: Spotify through advertising revenue and the copyright holders...
