It's doubtful that Apple will just ignore this move. Spotify is only letting users purchase audiobooks from a web browser. This circumvents Apple's hefty take rate for purchases made from within an iOS app. Speaking of audiobook downloads, we can't forget about Apple. But it will still be interesting to see how Amazon responds. Spotify's audiobooks are purchased individually, so this may attract different sets of users. However, it also creates new competitive challenges against top technology companies, including Amazon and Apple.įor Amazon, it offers an audiobook subscription service, and its Audible platform dominates the market. ![]() Therefore, this does provide the company with a new growth opportunity. ![]() Management is excited because the audiobook industry is growing 20% annually. Looking ahead to how it can gain and retain new users, Spotify launched audiobooks in the U.S. In a statement, the company appears to reference Russia’s new law that punishes. All of this said, it seems like Spotify stock was down in September mostly because the market had a rough month. After carefully considering our options and the current circumstances, we have come to the difficult decision to fully suspend our service in Russia. Spotify is suspending its services in Russia as the country’s invasion of Ukraine continues into its second month.
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