Spotify ups audiobook ante with purchase of Findaway - NewsBreak

Swedish music streaming giant Spotify announced Thursday its latest purchase in its quest to diversify, with the takeover of audiobook distributor Findaway. Launched in 2005, Findaway bills itself as having the largest catalogue of audiobooks in the world, and works as a wholesaler with major companies such as Apple, Google and Amazon's Audible. The company, based in Solon, Ohio, also provides audio content for production and editing services. Global audio book sales are expected to reach $4.8 billion in 2021 and double to $9.3 billion by 2026, according to research firm Omdia.