Spotify has introduced a paid subscription plan focused on audiobooks in the US. For $9.99 per month, the Audiobooks Access Tier allows users to listen to 15 hours worth of audiobooks. Music and podcasts remain ad-supported, like a free account. (That’s one dollar per month less than Spotify’s Premium plan, which includes 15 hours of audiobooks along with ad-free music and other features.) “Spotify offers several subscription plans tailored to fit a variety of users’ preferences and will continue to invest in giving our listeners more options to cater to their unique needs,” the company said in a release.
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Pearson Sales Down for 2023, But Profits Rebound
Pearson released their full results for 2023, reporting sales of £3.67 billion, down 4.3 percent from £3.84 billion in 2022, “reflecting business performance, portfolio changes and currency movements.” Operating profit was £498 million, up from £271 million, due to “increased trading profits” and the cost savings from restructuring, and was “partially offset by a net loss related to acquisitions and disposals.” This sheds light on the company’s trading update issued in January, which noted that sales were up 5 percent—for select divisions, excluding virtual learning and those under strategic review. Higher Education continued to fall, in line with expectations, down […]
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Obituary: Ken Fund
Ken Fund, 65, former COO of The Quarto Group, died on February 22. Fund joined Quarto in 1999 as president and chief executive officer of subsidiary Rockport Publishers before heading the company’s US division for many years. He became COO in 2016 and joined the board as an executive director in 2018. The company writes: “Ken was a compassionate boss, valiant leader, and inspiring mentor, and felt like family to many at Quarto. Known for his business acumen and wicked sense of humor, Ken was passionate about his work and always willing to offer his opinion and guidance. Outside of […]