Spotify launches publishing program, takes aim at Audible

Spotify is banking on its audiobook arm getting bigger by going smaller. The company late last week announced a new short story publishing program targeted at independent authors who may not be able to afford to record and produce audiobooks on their own.

How it works: After Spotify selects a story for audiobook publishing from its new online submission form, the company will handle the production and distribution of the work to other major audiobook retailers. Authors are paid both an advance and royalties based on the success of the title.

But not just any story will do. The platform is specifically looking for short stories across three genres: romance, mystery or thriller, and sci-fi or fantasy (or a combination of the three). The audiobooks have to be in English, and authors should have the rights for the stories they submit for consideration.

• The requests come after witnessing the overwhelming success of titles like fantasy romance A Court of Thorns & Roses, 2024’s top audiobook on Spotify.

Big picture: Last year was Spotify’s first full year with audiobooks on the platform, and 25% of its 263 million premium subscribers interacted with the new feature, per the company. With the launch of the new publishing program, Spotify hopes to better compete with Audible, America’s largest audiobook producer and retailer. The Amazon-owned platform offers its subscribers access to Audible Originals and exclusives, which tend to be shorter books and stories.