Spotify Takes Its "Own Your Ear" Strategy to Audiobooks

Every acquisition or partnership Spotify (NYSE: SPOT) makes should be looked at through the lens of its long-term strategy to expand its audio products. Put simply, Spotify wants to "own your ear," and it's spending big to do just that.

The strategy started with music, expanded into podcasting, and now includes audiobooks. Last week's announcement that Spotify is acquiring Findaway, a leader in digital audiobook distribution, for an undisclosed sum fits that strategy perfectly, and Spotify's wide distribution and monetization model could make this a big win for investors.

Image source: Getty Images.

Source Fool.com