Friday Five: Key Publishing Trends, Google's Defeat, and AI Highlights

Welcome to this week's edition of Friday Five, where we bring you current industry news and trends. This week, we explore how audiobooks are boosting Shopify's sales, Google's staggering defeat in its antitrust search lawsuit, The Washington Post’s approach to engaging both deeply invested and casual readers, a groundbreaking AI partnership between Wiley and Oxford University Press, and Gannett's sudden decision to drop their print subscription trials.

Audio books help boost Spotify’s sales

Spotify's stock has risen, and the company is now profitable. Co-founder and CEO Daniel Ek attributes this growth primarily to the favorable cost structure of audiobooks. To capitalize on this, Spotify plans to significantly invest more in audiobooks, aiming to diversify its content and drive additional growth. This strategy aims to attract new users and strengthen its position in the digital media market. Read more on Axios.

Judge Rules Google Violated U.S. Antitrust Laws with Search Practices

In a significant court setback, Google has been found liable in an antitrust lawsuit concerning its search dominance. The court found that Google’s practices in the search engine market were anti-competitive and harmed consumers. This decision has the potential to reshape how millions of Americans get information online and could upend decades of the company’s dominance. Read more on CNN.

How The Washington Post Caters to Both Political Enthusiasts and Casual Readers

The Washington Post is tailoring its content to serve both deeply engaged political readers and casual news consumers. This strategy helps them balance their coverage and appeal to a broad audience, offering a mix of in-depth political analysis for enthusiasts and more accessible news summaries for casual readers. Read more on INMA.

Wiley and Oxford University Press Form AI Partnerships to Enhance Publishing

Two prominent academic publishers have confirmed new AI partnerships, aimed at enhancing their publishing capabilities. Both parties are committed to ensuring that authors and societies benefit from these agreements through fair compensation and rights protections. OUP states “We are actively working with companies developing large language models (LLMs) to explore options for both their responsible development and usage. This is not only to improve research outcomes, but to champion the vital role that researchers have in an AI-enabled world.” Read more on The Bookseller.

Gannett to End Print Subscription Trials Amid Declining Revenue

Gannett, an American media holding company with ownership of various newspapers, will soon end its seven-day and six-day print subscription trials. This move is attributed to declining print revenue and a need to optimize costs. The company intends to cut back on print editions for trial subscribers while focusing more on digital offerings and adjusting its print strategy to align with changing consumer habits. Read more on Poynter.