It looks like Google is coming into audible books market to challenge existing players. Currently, Google play is popular for Mobile apps, Books, Movies, TV Shows, Games etc. but now, it is ready to sell audiobooks on Google play store.
Company has started advertising through a banner on Books segment of Google play store. 9to5Google first reported this saying that audio book store is not live yet as clicking on banner shows 404 error. It is not confirmed that when will it be live but it is sure that Google is coming in this market segment.
The banner displayed in selected countries announcing a 50% off on first purchase.
Audiobooks are the fastest growing market in digital publishing industry and in 2017, this was over $2.5 billion dollars in sales for audiobooks. According to Good E Reader —
Audiobooks are the fastest growing segment in the digital publishing industry. The United States continues to be the biggest market for the audio format and in 2017; there was over $2.5 billion dollars in sales, which is a slight increase from the $2.1 billion generated in 2016. Michelle Cobb of the Audiobook Publishers Association stated, “26% of the US population has listened to an audiobook in the last 12 months.
This move by Google is significant because it will challenge many players like Amazon audible, audiobooks.com etc.