Spotify to let users buy physical books on app through Bookshop.org partnership [Yahoo! Finance Canada]
News Corporation - Class B (NWS)
US:NASDAQ Investor Relations:
investors.newscorp.com/investor-relations
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Source: Yahoo! Finance Canada
The ?company is doubling down on new features to better compete with rival streaming services from tech ?giants such as Apple and Amazon. Since launching audiobooks two years ago, Audiobooks in Premium has expanded to 22 global markets and its English-language catalog has grown to more than 500,000 titles, Spotify said. Its new listeners were up 36% ?from a year earlier ?and listening hours grew 37%, it added. Spotify said the physical book purchasing feature will begin rolling out later this spring ?for users in the U.S. and the UK, with Bookshop.org handling pricing, inventory and fulfillment. Spotify will receive an affiliate fee for purchases made inside its app. The company's move comes ?at a time when physical book sales are sluggish because more users are ?increasingly turning to e-books and other sources on the internet. News Corp, which owns HarperCollins, said last year that book publishing orders were slowing from both readers and retailers. Baker & Taylor, a nea
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