When it comes to audio, Spotify has podcasts and music but it will now be expanding into the world of audiobooks.

On Thursday Spotify announced that it had entered into a definitive agreement to acquire Findaway, a global audiobook distributor. The value of the acquisition was not disclosed and it is still subject to regulatory approval.

“It’s Spotify’s ambition to be the destination for all things audio both for listeners and creators. The acquisition of Findaway will accelerate Spotify’s presence in the audiobook space and will help us more quickly meet that ambition,” chief research and development officer at Spotify, Gustav Söderström, said in a press release.

“We’re excited to combine Findaway’s team, best-in-class technology platform, and robust audiobook catalog with Spotify’s expertise to revolutionise the audiobook space as we did with music and podcasts,” added Söderström.

Likely more excited than Spotify are its users although we need to be a bit cautious here. The reason for our caution is that we don’t know how Spotify will incorporate audiobooks into its platform.

We suspect that Spotify will rely on a subscription model but we would put money on the idea that this will be an additional cost over and above the current Spotify subscription. For example, Audible Premium Plus which includes one book from the new releases and best sellers categories costs $14.95 or R228 depending on the exchange rate.

There may be books included in the regular Spotify subscription but we’re going to have to wait to see how audiobooks are implemented into the platform.