Aspiro Music: Aspiro Develops New Streaming Service for Audiobooks - Signs First Deal in Norway

STOCKHOLM--(BUSINESS WIRE)--

Aspiro Music has signed an agreement with Norwegian book publisher Cappelen Damm for the development and launch of a new streaming service for audiobooks. The service is scheduled for release in the Norwegian market this fall.

With Aspiro’s service, users will be able to listen to a selection of Cappelen Damm books on PC, Mac and mobile. Aspiro will develop a customized streaming service that allows the reader to bring their books with them and to listen wherever they are.

"This represents a strong modernization of audiobooks, which we believe will appeal to both old and new users. The service will make our audiobooks available in a whole new way and we look forward to launching a subscription solution that will be perceived as an attractive improvement to book listeners,” said Øisten Wahl, director at Cappelen Damm.

Audiobooks on mobile phones also allow users to listen to books on the go. Using bookmarks, they can easily start listening on the computer at home, and continue later on the mobile, where they left off. Streaming technology also makes it unnecessary to download files or to do any work to keep the 'library' in order.

“We are delighted to have signed an exclusive agreement with Cappelen Damm in Norway," says Gunnar Sellæg, CEO of Aspiro. "Audiobooks are a very interesting and growing market and therefore we will also offer our streaming service throughout Europe to publishers, audiobook clubs and other retailers, who want to distribute their books via online streaming.”

According to industry statistics from the Norwegian Publishers Association the estimated Norwegian market for audiobooks 2008 was 261 million kroner with a growth of 38 percent. Audio Publishers Association (APA) estimates that the world market for audiobooks in 2008 was about $ 1 billion, based on trade from consumers and libraries worldwide.

About Aspiro

Aspiro has unique positioning as the world’s only provider of complete white label TV and music streaming services for partners that want to put their own branding on the service. As the northern European market leader in mobile entertainment, Aspiro has over ten years’ experience in mobile technology and retail, delivering services to partners worldwide like T-Mobile, Telefonica O2, Telenor, 3, TeliaSonera, Tele2, the BBC, Aftonbladet, mBlox, TVNorge, Entel and VG. Aspiro is listed on Nasdaq OMX Nordic Exchange Stockholm and has a local presence in all the Nordic and Baltic countries, as well as the US. Sales in 2009 were SEK 441 m and the company has some 150 employees.

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