Owen Smith’s Post

At today's Spotify Investor Day I shared an update on our books business and how we're expanding access to more readers, building new tools for authors, and continuing to reimagine how books are discovered and experienced on Spotify. Here are a few highlights: • Audiobooks+ has now reached one million subscribers, on track for $100M in annualised recurring revenue this July. • We're expanding Audiobooks+ with new higher-hour plans, alongside upcoming Family and Student offerings. • Page Match continues to be one of Spotify’s strongest launches, driving an uplift in audiobook listening of up to 55% over a month, and people are finishing books twice as fast when using the feature. • Listening hours are up 60% year over year. • We're Introducing new discovery experiences like Prompted Playlists for audiobooks. Check out the For The Record post for all the updates from Spotify’s Investor Day.