MUMBAI: eMusic has announced the arrival of worlds' first audiobooks format. It will provide more than a thousand downloadable audiobook titles in the universally compatible MP3 format without any restrictions.

The digital audiobooks market is currently the fast-growing segment of the book publishing industry. According to Piper Jaffray & Co., the worldwide market for digital audiobooks and other spoken word is expected to grow 45% in revenue from $138.6 million in 2006 to $274.4 million in 2008. Nearly 49 percent of eMusic subscribers have also expressed their interest in audiobooks.
"With the launch of eMusic audiobooks, our company is now a multi-product digital entertainment retailer. As we expand our offerings, we will continue our focus on customers over the age of 25, and continue to offer them an inexpensive, low-risk way to explore great entertainment they wouldn't find otherwise," says eMusic President and CEO David Pakman.

"We expect that our sales will help to dramatically accelerate the audiobooks market. For the first time, thousands of audiobooks from major publishers will be sold in the universally compatible MP3 format, delivering far more convenience and flexibility to the consumer than ever before. Finally, consumers can listen to their audiobooks on any device they like."

eMusic will offer major audiobooks publishers including Blackstone Audio, Hachette, Naxos Audiobooks, Penguin and Random House, with hundreds more to be added each week. The catalogue comprises fiction and non-fiction classics, bestsellers and new releases, including notable books narrated by well-known voices such as: Michael Ondaatje's The English Patient, read by Ralph Fiennes; Shakespeare's Hamlet, read by Sir John Gielgud; Nicola Kraus' The Nanny Diaries, to name a few.