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Streaming company Storytel has signed a deal to acquire Audiobooks.com from owner KKR for $135m, extending its reach into the English language audio market
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- Title
- Storytel extends into English language market with $135m Audiobooks deal
- Published
- Nov 12 2021
- Word count
- 442 words
Interesting. Between this, the recent news that Spotify is entering the audiobook market, and the introduction of Audible Premium Plus last year (which offers streaming of a limited selection of audiobooks), I wonder if the audiobook market is about to phase out the credit model and plunge into on-demand streaming.
People have been speculating about “Netflix for audiobooks” for years, and there are interesting pros/cons to the idea. Hopefully the credit model will stick around as an alternate plan for those who prefer it. Above all, whatever happens, I hope the streaming and publishing companies don’t strike a deal that ends up screwing over authors, narrators, editors, etc. though.
Glad to see the market is starting to make moves against the Audible hegemony! Still, I don't really fancy using Spotify for audiobooks either, much as I refuse to use them for podcasts. Can't wait for my homepage to be full of extra rows of books I might like in addition to podcasts I won't listen to.
My current model for audiobook listenership is piracy, but only of books I have already purchased and read. Depending how the landscape starts to shift in the next few years, I might jump on a streaming service to 'read' more. As a musician, I know how pitiful the income from streaming can be, so I think it'll be worth checking which services offer authors and narrators (to name but two in the legions in charge of audiobooks) the best returns.