Spotify to offer more than 150,000 audiobooks as part of premium plan

Streaming service Spotify Technology
SPOT,
-2.28%
on Tuesday said it would make more than 150,000 audiobooks available to its Spotify Premium subscribers. The company said those audiobooks would be available to premium subscribers in the U.K. and Australia on Wednesday, and begin offering them to those users in the U.S. later this year. Spotify will offer premium individual subscribers and plan managers for Family and Duo accounts 15 hours of listening a month, with the option to buy an extra 10-hour installment during that period if needed. The company made the announcement as it tries to expand into other areas of audio, but as steady profits remain elusive. Spotify announced that users would be able to buy audiobooks on the platform last year. Shares were up 0.1% after hours.