Spotify Introduces Feature for Purchasing Printed Books Through Its App
In a surprising development, Spotify, the audio streaming giant, has unveiled a new feature that enables users to purchase printed books directly through its app, in partnership with Bookshop.org, an online book retail platform.
This initiative marks a significant expansion for the company, moving beyond its established presence in audiobooks to compete more effectively with streaming services offered by major tech players like Apple and Amazon.
Spotify launched its audiobook service two years ago, experiencing notable growth in this sector, with a reported 36% increase in new listeners and a 37% rise in listening hours compared to the previous year, according to Reuters data.
The printed book purchasing feature is set to launch in the spring of next year in the United States and the United Kingdom. Bookshop.org will handle pricing, inventory, and order fulfillment, while Spotify will earn a commission on each in-app purchase.
This announcement comes at a time when printed book sales are slowing globally, as more consumers shift towards e-books and other digital formats.
In a related move, Spotify has increased the price of its premium subscription by one dollar, bringing it to $12.99 in the U.S. markets, as well as in Estonia and Latvia.
Despite a recent 4.5% drop in the company’s stock, it has seen an overall increase of approximately 30% over the past year.
With this initiative, Spotify appears to be broadening its scope beyond music, podcasts, and audiobooks, aiming to create a more comprehensive and interactive user experience, positioning itself as a digital hub for both audio and reading enthusiasts.
