HarperCollins CEO Discusses Audiobooks, AI, and Spotify
HarperCollins CEO, Brian Murray, addressed the UBS Global Media and Communications Conference, highlighting the growth of audiobooks and the impact of AI on publishing. Audiobooks are now outselling e-books, offsetting declines in the latter. Murray praised Spotify's entry into the audiobook market, noting its success in attracting occasional listeners with its 15 hours of free listening included with Premium subscriptions. AI auto-dubbing could further expand the reach of audiobooks.
HarperCollins operates on a consumption-based model with Spotify, similar to its Audible deal, paying royalties per listen. This model offers greater transparency for authors compared to music streaming. Spotify is currently testing expanding audiobook access to all family plan members. The company is also expanding audiobooks to more global markets, creating further growth opportunities. For more on tech developments, see Apple Notes' AI boost.
Murray also discussed the potential of AI in publishing, acknowledging both opportunities and risks. While concerned about the potential influx of lower-quality AI-generated content, he believes high-quality content will prevail. HarperCollins is exploring AI for internal use in marketing and sales to improve productivity. AI could also enable audiobook creation for smaller markets and expand book translations. Looking ahead, the company envisions using AI to adapt books into film and television scripts, potentially streamlining the adaptation process. Check out Apple news for more on tech advancements.