Spotify-owned audiobook platform Findaway Voices has announced that it will no longer take a 20% cut of royalties for titles sold on its DIY Voices platform, but only if the sales are made on Spotify. This decision comes after Spotify's acquisition of Findaway last year for $123 million in a bid to strengthen its position in the audiobook market.

In a company blog post published on Monday, Findaway stated that it would "pass on cost-saving efficiencies" from its integration with the streaming service. This move is expected to benefit both authors and narrators, as they will now receive a larger share of the revenue generated from their audiobook sales on Spotify.

The audiobook industry has been experiencing rapid growth in recent years, with more consumers opting for this format to consume books. The integration of Findaway into Spotify's ecosystem is a strategic move that aims to capitalize on this growing market while also providing better revenue opportunities for creators involved in the production of audiobooks.

This change in royalty distribution comes as a welcome move for authors and narrators who have been looking for better revenue-sharing models in the audiobook industry. In addition, it is likely to encourage more creators to join the Findaway Voices platform as the potential for earning more from their work increases.

In conclusion, Findaway Voices' decision to eliminate the 20% royalty cut for audiobook sales on Spotify is a positive development for authors and narrators. This move not only helps creators earn more from their work but also strengthens Spotify's position in the growing audiobook market. As the industry continues to evolve, it is essential for platforms like Findaway Voices to adapt and provide better opportunities for creators and consumers alike.

What are your thoughts on Findaway Voices eliminating the 20% royalty cut for audiobook sales on Spotify? Let us know in the comments below.