tech
Spotify tries to win indie authors by cutting audiobook fees
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TL;DR
- Spotify-owned Findaway Voices will remove its 20% royalty fee for audiobooks sold on Spotify.
- This change aims to make Spotify more attractive to independent authors compared to Audible.
- Previously, authors faced a 50% cut by the sales platform and a 20% cut by Findaway.
- Audible, a major competitor, reportedly takes up to 75% of retail sales, leading to author dissatisfaction.
- Spotify's audiobook business is still developing, with current purchasing restricted to its web version and noted as a poor user experience by CEO Daniel Ek.
- Spotify does not currently require exclusivity contracts with authors, unlike Audible.
- Spotify plans to introduce more features to support independent authors in the future.