tech
Spotify launches an ElevenLabs-powered audiobook creation tool
Spotify is releasing new audiobook plans later this year
TL;DR
- Spotify introduced an AI tool for self-publishing audiobooks using ElevenLabs technology.
- The feature will launch in beta in June, initially supporting English.
- Authors using the tool will not be bound by exclusive contracts.
- Spotify is expanding its "Spotify for Authors" platform to include 10 new languages.
- The company will expand its Audiobook+ plans with higher listening limits and new options for students and families.
- Spotify has over a million Audiobook+ subscriptions and is projected to generate $100 million in annualized recurring revenue.
- A new natural language feature for audiobook discovery will be introduced.
- Prompt-based playlist creation for audiobooks will be expanded.
- Spotify has significantly increased its focus on audiobooks, growing its catalog to 700,000 titles.
- Listening hours for audiobooks have increased by 60% year-on-year.