Spotify intends to invest in audio books as a third leg in its business, in addition to music and podcasts, writes The Verge.
Earlier this week, Spotify’s founder Daniel Ek presented the new strategy for investors.
“We believe that audiobooks, in all their various forms, are a great opportunity,” he told investors.
Last year, Spotify announced that it intended to buy the audiobook platform Findaway, which is seen as a first step towards the audiobook investment. However, the purchase is not complete yet, according to The Verge.
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