Spotify Technology's (SPOT) audiobooks format is gaining ground after launching two years ago, with the number of users growing 36% and listening hours rising 37% in the past year, the company said in an emailed statement to MT Newswires Tuesday.

More than half of the listeners are under 35, according to the company.

Spotify said it has expanded into 14 global markets and tripled its audiobook catalog to more than 500,000 titles in the US, Canada, UK, Ireland, Australia, and New Zealand.

Some publishers, including News Corp (NWS) subsidiary HarperCollins, Bloomsbury Publishing, and Lagardere, have credited Spotify for the recent growth in US audiobook sales, which grew 13% year over year in 2024, according to a Bloomberg report Tuesday.

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