Authors Express Concern Over Spotify’s Expansion into Audiobooks and Potential Impact on Their earnings

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Tech News Summary:

  • Spotify’s expansion into audiobooks is causing concern among American authors who fear they will be shortchanged and not fairly compensated for their work.
  • The Coalition of Concerned Creators, organized by Bradley Tusk, is demanding more transparency from Spotify about how authors will be paid. They are worried that authors will only be paid if their entire book is listened to, rather than receiving a full royalty payment for each partial listen.
  • Macmillan Publishers Inc has a compensation model where authors receive a full royalty credit for each unit listened too as long as they collectively achieve a complete listen of their work. However, not all book publishers on Spotify use the same compensation model.

In a surprising move, Spotify has announced its expansion into the audiobook market, aiming to compete with industry giants like Audible. While this move could potentially shake up the audiobook industry, it has left authors feeling shortchanged and worried about their pay.

Many authors have expressed concerns about Spotify’s plans to offer audiobooks, citing the company’s controversial history with compensating musicians for their music streaming. Authors fear that they will not receive fair compensation for their work, especially as Spotify has been known for paying minimal royalties to artists.

Additionally, authors are worried about the impact this expansion will have on the audiobook market as a whole. With its large user base, Spotify has the potential to dominate the audiobook industry, which could lead to less competition and lower pay rates for authors.

In response to these concerns, Spotify has stated that it will work closely with publishers and authors to ensure fair compensation for their work. However, many in the industry remain skeptical, pointing to Spotify’s track record in the music industry.

As Spotify prepares to enter the audiobook market, authors and publishers are left with a sense of unease and uncertainty about what this expansion will mean for the industry. While the move has the potential to reach a larger audience, it also raises questions about fair compensation and the future of the audiobook market. Only time will tell how Spotify’s entry into the audiobook industry will impact authors and their livelihoods.

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