How Audiobooks Could Drive Spotify's Future Growth

Spotify's Audiobooks Strategy: A Game-Changer for Future Growth

Audiobooks aren't just a side business for Spotify, they're a future growth driver. Spotify (NYSE: SPOT) has grown its business primarily on premium music subscriptions, which have grown to hundreds of millions of users.

To scale up further, the company needs a new growth driver, and it may have found it with audiobooks. In this video, Travis Hoium explains how this could drive listening hours, advertising, and more bundles for Spotify.

*Stock prices used were end-of-day prices of April 26, 2024. The video was published on April 28, 2024.

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*Stock Advisor returns as of April 22, 2024Travis Hoium has positions in Spotify Technology. The Motley Fool has positions in and recommends Spotify Technology. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.