Spotify launches AI-powered audiobook creation tool to compete with Audible
Here's what it means for you.
Spotify's new tool empowers authors to self-publish audiobooks, enhancing competition in the digital publishing landscape.
What happened
Spotify introduced a new AI-powered tool for self-publishing audiobooks, leveraging ElevenLabs technology.
The Context
- Spotify has over 1 million subscriptions to its Audiobook+ service, projected to reach $100 million in annual recurring revenue.
- The new tool allows authors to publish their audiobooks on multiple platforms, not just Spotify.
- ElevenLabs is emerging as a key player in the audiobook space, challenging existing giants like Audible.
Takeaway
The introduction of AI tools for audiobook creation may reshape the publishing landscape and enhance accessibility for authors.
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The AI-Voice Startup Angling to Give Audiobooks Their Viral Moment
ElevenLabs is positioning itself as a strong competitor in the audiobook market, aiming to rival established platforms like Spotify and Audible. The startup is leveraging its advanced AI voice technology to enhance audiobook offerings, which could re...
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Spotify says it has 1M+ subscriptions to Audiobook+, which is on track for $100M in ARR, and unveils an ElevenLabs-powered audiobook self-publishing tool (Ivan Mehta/TechCrunch)
Spotify has announced that it has surpassed 1 million subscriptions to its Audiobook+ service, which is projected to generate $100 million in annual recurring revenue (ARR). The company also introduced an AI-powered self-publishing tool for audiobook...
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Spotify launches an ElevenLabs-powered audiobook creation tool
Spotify has launched a new audiobook creation tool powered by ElevenLabs, allowing authors to generate audiobooks without being bound to exclusive contracts, enabling them to publish their works freely across various platforms.