HarperCollins' CEO Brian Murray highlighted that audiobooks are now outselling e-books, providing crucial revenue to offset falling e-book sales. This emphasizes the growing demand for audio content.
Murray praised Spotify's entry into audiobooks as particularly smart, leveraging its existing listener base to attract occasional audiobook users without commitment, which has resulted in successful incremental growth.
Discussing AI's impact, Murray noted that the publishing industry is entering a fascinating phase, though he refrained from detailing specific licensing agreements under NDA, calling the progress early.
Murray asserted that while Audible has monetized core audiobook listeners, Spotify's model has tapped into casual users, offering them a sample without full commitment. This flexibility has proven beneficial.
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