Spotify CEO On Audiobook Push & The Future Of Generative AI In Audio Advertising – “A Thousand” Tailored Ads By One Voice Actor
deadline.comSpotify gave an early peek at its two-week-old Audiobook rollout with chief executive Daniel Ek telling investors, “It’s early days, but we feel good.” “We just believe it is going to be a great product that will open up more authors to more consumers.
And what we have seen is that when we enter a business, it gets bigger,” he said on a call after strong third quarter financials that included a swing to profitability as users weathered price hikes pretty well and despite investment in the audiobook launch.
CFO Paul Vogel called the quarter an “inflection point” for the company which now expects to be consistently profitable. The stock is up 10% today.
Audiobooks on Spotify, announced early this month, has launched in a few markets including the UK and will roll out to the U.S.
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