This makes for a significant development considering that Findaway happens to be the largest wholesale distributor of audiobooks in the world and will provide Spotify a huge foothold in the audiobook segment. The process is already underway at Spotify, something exemplified by the recent acquisition of Findaway. Towards that, Spotify CFO Paul Vogel said they have earmarked a budget of $3.5 billion which they intend to spend in enhancing its podcast and audiobook offerings. Spotify is increasingly turning to audiobooks and podcasts to achieve its future growth targets.
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