12:35 PM EDT, 04/16/2024 (MT Newswires) -- Spotify Technology's ( SPOT ) 25% paid subscribers in the US, UK and Australia are trying audiobooks with 57% of those users between 18 to 34 years of age, Bloomberg News reported Tuesday.

The company currently offers 15 hours of audiobook listening per month in six markets and users can purchase additional hours after their monthly limits are exhausted, according to the report.

Additional audiobook listening hours purchases have "more than doubled" in the first quarter compared to the fourth quarter of 2023, the report added.

Spotify ( SPOT ) plans to expand its audiobook offerings with new tools and an author-focused dashboard, alongside existing promotional features, the report said.

Spotify ( SPOT ) did not immediately respond to MT Newswires' request for comment.

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