Innovative digital content platform and ebookstore Legible Inc. [CSE:READ] [OTCQB: LEBGF] [FSE: D0T] has partnered up with Faurecia Aptoide Automotive to provide its infotainment app in cars worldwide.
The Canada and Frankfurt-listed Legible has extensive partnerships with four of the big five book publishers and has a library of over 2 million ebooks and audiobooks.
One of its hallmarks is that it provides both ebooks and audiobooks allowing readers to switch smoothly between reading a book and listening to it on a device. The partnership with Fauracia Aptoide will now make the audiobooks also available in cars.
A fast-growing market helped by 5G
Market research pegs the growth of the in-car entertainment market at between 7.5% and 11.6% per year, forecasting that it will expand from around $16.4 billion this year to $28.3 billion in the next five years. In-car entertainment is a wider umbrella which not only covers audio entertainment but also video and other services, but its rate of growth is a good indicator of what to expect from in-car infotainment market over the coming years.
The widespread introduction of 5G supports an increase in demand for all types of digital entertainment as it will provide better connectivity and a smoother experience. At the current rate approximately one third of the global population is expected to have access to 5G by 2025.
Kaleeg Hainsworth, CEO at Legible will be speaking at the upcoming Armchair Trader: Beyond the Channel professional investor event in London on 30 November. Sophisticated investors can register for a ticket to attend here.
Expansion plans
Automotive apps provider Faurecia Aptoide delivered its apps to close to 3 million users this year and is aiming to expand this number to 20 million by 2025. A market leader, Faurecia has a growing apps portfolio of over 250 apps and an established partnership with 14 different car brands. Legible is the first company to provide Faurecia Aptoide with an app that provides both eBooks and audiobooks.
A key feature of their partnership will be the integration of Legible’s vast digital library into Faurecia’s in-car infotainment app store, allowing car owners to access their favourite books and audiobooks. The interface is safe and user-friendly, ensuring minimal driver distraction. Users will be able to access the vast collection both when driving and offline. The integration will provide personalized recommendations based on user preferences and reading habits.
Stan Lee scoop
Legible scored a major scoop this year when it partnered up with Kartoon Studios [NYSE: TOON], the controlling partner of Stan Lee Universe LLC to launch STAN LEE COMICS. The collaboration will allow Legible to release a series of digital and print comic books based on never released stories and characters created by Stan Lee, the legendary creator of Marvel Comics. Legible plans to develop approximately 12 original comic book series and distribute them across its publishing and reading platform.
Legible’s extensive partnerships encompass four of the Big 5 publishers and the world’s largest eBook distributor, enabling it to seamlessly deliver over 2 million eBooks and audiobooks, effectively transforming any smart device into a library and an ebookstore.
At the heart of Legible’s innovation lies its LibrarianAI, an AI-powered assistant, enhancing the reading experience. Legible’s publishing division is revolutionizing the industry by crafting proprietary AI-enriched multimedia books.
