Spotify launches an ElevenLabs-powered audiobook creation tool

In a bold move to enhance its audiobook offerings, Spotify has unveiled a cutting-edge AI tool for self-publishing audiobooks powered by ElevenLabs. The announcement was made during Spotify's Investor Day event, revealing that this innovative feature will enter beta testing in June, available exclusively through invites and initially supporting only the English language. This AI-driven audiobook creation tool offers authors the flexibility to publish their works without being tied to exclusive contracts, allowing them to distribute their audiobooks across various platforms. This development builds upon Spotify's ongoing collaboration with ElevenLabs, which previously enabled authors to submit audiobooks created using ElevenLabs' voice AI technology. Spotify's existing partnerships with platforms like Google Play Books, which facilitates digitally narrated content, underscore its commitment to providing diverse audio experiences. The introduction of ElevenLabs' advanced voice models, known for their human-like expressiveness, is expected to elevate the quality of audiobooks available on Spotify. In addition to the new audiobook creation tool, Spotify is broadening its “Spotify for Authors” platform to include support for ten additional languages, such as French, German, and Spanish. Furthermore, the company plans to enhance its Audiobook+ service this year, although specific pricing details have yet to be disclosed. With over a million Audiobook+ subscriptions and projections of reaching $100 million in annual recurring revenue, Spotify is clearly making significant strides in the audiobook market. The platform is also introducing a natural language feature that allows users to ask questions for better audiobook discovery and is expanding its prompt-based playlist capabilities to include audiobooks. Spotify's focus on audiobooks has intensified in recent years, resulting in a catalog that has grown to 700,000 titles. The company has invested in non-English titles, enabled in-app purchases, and launched audiobook charts, leading to a reported 60% increase in listening hours year-on-year. Notably, more than half of Spotify's audiobook listeners have joined in the past year, indicating a rapidly growing interest in this audio format.