Before music and podcast app Spotify introduced audiobooks, audiobook service Audible first branched out into podcasts. Yet another streaming service is now entering the audiobook market. To complement its spoken word roster of podcasts and talk live radio streams, the live-streaming audio provider TuneIn, the world’s leading live-streaming audio service, has launched an audiobook library.
More than 120,000 audiobooks will be made available to TuneIn Premium users at no extra cost, unlike Spotify, which charges listeners for access to audiobooks on a per-title basis. Users will have unrestricted access to the library with no restrictions on the number of audiobooks they can listen to to or further payments required.
Listeners worldwide can choose the ideal audiobook companions for their daily routines thanks to TuneIn’s extensive audiobook library, which includes works in many different genres and languages. The collection consists of one audiobook for every mood and activity, whether getting ready with Eckhart Tolle energizing them in the background, travelling to fantastic new worlds with Tamara Pierce, or resting at the end of the day with blockbusters from Linda Sue Park and Rob Delaney. The library on TuneIn will keep growing over the following months, so the initial offering of audiobooks is just the beginning.
Non-premium users of TuneIn will have free access to ad-supported recordings of a small number of great literature, the company claims. They will also have access to five-minute audiobook excerpts of any book in the library. The objective is to get people to subscribe to TuneIn Premium with only those teases.
CEO Richard Stern stated in the announcement that audiobooks are going through a time of “unprecedented popularity and growth.” He also mentioned that adding them will significantly increase the value of their premium listeners’ spoken-word offerings on the platform. Their listeners may get all they want for one affordable price without any hidden fees, from sports discussions to sports memoirs or true crime podcasts to a good mystery. Fans will find it cheap and grow their assortment in the coming months.
In September, Spotify debuted its audiobook service, offering its American users access to 300,000 titles. Each audiobook will have different pricing, which Spotify and the publishers will determine together. After purchasing Findaway in November 2021, Spotify plans to join the audiobook providers.
Nir Zicherman, Vice President and Global Head of Audiobooks and Gated Content at Spotify, stated at the launch that although audiobooks only account for 6%–7% of the book industry, the category is expanding by 20% annually. Additionally, some analysts predict that by 2027, the audiobook market will increase from $3.3 billion to $15 billion.
CEO Daniel Ek stated on an investor conference call in January, “It’s early days for audiobooks.” And that they’re, We’re observing some positive indicators. Although there is a noticeable rise, they still need to be where they want to be and where they think the category can go. Fundamentally, they believe there is a vast market opportunity for audiobooks and that only some consumers are active participants.