Audible: Turning Up the Volume
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Audible is an aggregator of premium, spoken content. For example, you can listen to the latest Stephen King thriller by downloading the novel from the Audible site and transferring this to a handheld device.
The Audible solution is geared for the 84 million people who drive to work each day or 50 million people who exercise regularly and so on. With Audible, people can add excitement to these mundane activities. The content is diverse: Wall Street Journal, Forbes, the Nightly Business Report, Garrison Keillor's monologues from A Prairie Home Companion and so on.
Interestingly enough, Amazon.com has recently invested in Audible (5 percent of the company). Audible is the exclusive provider of premium spoken content.
Additionally, Audible recently made a digital audiobook distribution agreement with Simon & Schuster, a leading audiobook publisher. Through the deal, Audible gets exclusive rights to such best-sellers as "Beating the Street" by Peter Lynch, "The Roaring 2000s" by Harry Dent and "Bag of Bones" by Stephen King.
But critical to Audible has been the hiring of a new CEO. He is Tom Baxter, who has a great track record. He was the former CEO of Comcast Cable. From 1989 to 1998, he increased the subscriber count from a few hundred thousand to 4.5 million. When he took the reigns of Audible, he compared the company to the cable industry -- before the industry skyrocketed in the early eighties. With him at the helm and the broad content offerings and distribution agreements, Audible could be another chance to ride the growth of a new, fast-growing industry.
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