Spotify Invested IDR 19 Billion To Support Audiobook Writers And Publishers

Spotify invests in audiobook features (photo: dock. Spotify)

JAKARTA Spotify will invest 1 million euros or IDR 19.069 billion to increase audiobook production. This time, Spotify's focus is on delivering audiobooks in French and Dutch.

Through this investment, Spotify wants to develop a market for writers and audiobook publishers on its platform. They will also increase catalogs and user experience on audiobook pages so that more users will be interested in using their features.

Our goal is to help create long-term value for the publishing industry and build new revenue streams for partners. To do so, we have to attract a new audience while maintaining existing book enthusiasts," said Jéreremy Amsellem, European Partnership Manager and Audiobook License.

The most important thing for Spotify is to deliver good audiobooks with more language support. This music streaming platform deliberately targets audiobooks in French because the audiobook format currently available is still below 3 percent.

"This is a great opportunity to help publishers and writers find new readers," added Jéremy. This low production rate occurs due to the huge costs required to produce the books or audio.

Therefore, Spotify offers Voice Digital Narrative services as part of the investment. Publishers can overcome cost barriers using this Artificial Intelligence (AI)-powered service in their book description section.

If the title or other parts are narrated using AI, Spotify will add a description, "This audiobook is narrated by digital sound." In addition, for authors' welfare, all audiobooks can be broadcast on other platforms even though they are funded by the company.