Spotify Technology SA (NYSE:SPOT) launched Spotify for Authors, a new set of tools for authors and publishers who distribute their audiobooks on its platform.

Much like Spotify for Artists and Spotify for Creators, Spotify for Authors will help writers and publishers track insights and analytics about their audiobooks and catalogs' consumption on the service and access a set of promotional tools.

For publishers, Spotify for Authors expands on the catalog management and royalty reporting currently offered in Passport.

Also Read: Manchester United Q1 Earnings: Revenue Falls 8.9% As Broadcasting Takes A Hit, Cost Cuts Stay On Track, Reaffirms 2025 Guidance

It provides insights and analytics to help them better understand their audiences and catalog consumption on Spotify. The platform also provides promotional tools to help publishers enhance their presence on Spotify and expand their listener bases.

For authors invited by publishers, Spotify for Authors offers direct access to industry-leading insights, growth, and promotional tools to help them grow their listeners and catalogs. These include aggregated age and gender demographics, redemption codes to share royalty-free copies of titles with reviewers, superfans, and collaborators, promo cards to generate professional and shareable social assets, and early access to author profiles.

Spotify stock surged 155% year-to-date.

The company reported third-quarter sales of $3.99 billion (versus $3.65 billion a year ago), which missed the analyst consensus estimate of $4.02 billion. EPS of $1.46 missed the analyst consensus estimate of $1.76.

The company reported monthly average user (MAU) net additions of 14 million. Premium subscribers grew 12% to 252 million.

Investors can gain exposure to Spotify through Global X Social Media ETF (NASDAQ:SOCL) and First Trust International Equity Opportunities ETF (NASDAQ:FPXI).

Price Action: SPOT stock was flat at $481.38 at the last check on Tuesday.

Also Read:

• Microsoft Service Disruption Hits Outlook And Teams, Thousands Report Issues

Photo by esthermm on Shutterstock.