Exclusive financial advisor to Spotify USA Inc.

KPMG Corporate Finance LLC acted as exclusive financial advisor to Spotify USA Inc.

KPMG Corporate Finance LLC is pleased to announce the sale of Playaway Products LLC (Playaway), a subsidiary of Spotify USA Inc. (Spotify), to Penguin Random House Audio, a division of Penguin Random House LLC.

KPMG Corporate Finance acted as exclusive financial advisor to Spotify on the sale of Playaway, formerly a division of Findaway World LLC, which was acquired by Spotify in June 2022.

“Penguin Random House is the right strategic partner for Playaway Products. It was immediately apparent from the first conversations with the audio team that our cultures and vision align perfectly. I’m eager to enter this new chapter together with our whole team, along with our customers and partners,” said Gene LaMarca, CEO, Playaway Products.

Playaway Products LLC revolutionized the business of audiobooks in 2005 with Playaway, a pre-loaded audiobook player. Since then, Playaway Products has expanded into a portfolio of innovative technology solutions that continue to transform the way the world's best audiobook, app, eBook, and video content is circulated in more than 40,000 libraries, schools, and military installations. Playaway Products' mission is to make digital content accessible to everyone, promote literacy, and bridge the digital divide.

KPMG’s deep industry expertise and relationships with both financial and strategic buyers, track record of delivering results, as well as our extensive middle-market dealmaking and corporate divestiture experience, led to our success.

About Spotify

Spotify is the world’s most popular audio streaming subscription service with a community of more than 381 million Monthly Active Users and 172 million Premium Subscribers. With a presence in 178 markets, and more than 70 million tracks including 3.2 million podcast titles, it has transformed the way people access and enjoy music and podcasts.

About Penguin Random House Audio

Penguin Random House Audio is the premier publisher in the audiobook industry, dedicated to producing top-quality fiction and nonfiction audiobooks written and read by the best in the business. Penguin Random House, the world’s largest trade book publisher, is dedicated to its mission to ignite a universal passion for reading by creating books for everyone.

KPMG Corporate Finance

The global Corporate Finance practice of KPMG International’s network of independent member firms was ranked #1 as the top M&A middle-market adviser globally by Refinitiv, based on number of completed transactions, for the past 20 years.

Trust KPMG Corporate Finance LLC with your next transaction.

Roderick (Roddy) Moon

Roderick (Roddy) Moon

Managing Director, KPMG Corporate Finance LLC

+1 617-548-4904

Corporate finance services, including Financing, Debt Advisory, and Valuation Services, are not performed by all KPMG member firms and are not offered by member firms in certain jurisdictions due to legal or regulatory constraints. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. 
The information contained in this communication may not be representative of the experience of other clients and does not constitute a recommendation, offer, or solicitation to buy, sell or hold any security of any issuer. Past performance does not guarantee future results.
©2023 KPMG Corporate Finance LLC, a Delaware limited liability company. Member FINRA/SIPC. KPMG Corporate Finance LLC is a subsidiary of KPMG LLP, a Delaware limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. KPMG Corporate Finance LLC is not engaged in the practice of public accountancy. All rights reserved. The KPMG name and logo are registered trademarks or trademarks of KPMG International.