Audible is an American online audiobook and podcast service that allows users to purchase and stream audiobooks and other forms of spoken word content. This content can be purchased individually or under a subscription model where the user receives “credits” that can be redeemed for content monthly and receive access to a curated on-demand library of content. Audible is the United States’ largest audiobook producer and retailer. The service is owned by Audible, a wholly-owned subsidiary of Amazon.com, Inc., headquartered in Newark, New Jersey.

The company’s first product was an eponymous portable media player known as the Audible Player; released in 1997, the device contained around four megabytes of on-board flash memory storage, which could hold up to two hours of audio. To use, consumers would go online to the official Audible website, download the audiobook, and put it onto the player.

In 2005, the service released “Audible Air”, which allowed users to download audiobooks directly to PDAs and smartphones. Its content would update automatically, downloading chapters as required that would then delete themselves after they had been listened to.] In 2006, the company released its A-List collection, which had famous works read by Anne Hathaway and Annette Bening.

On January 31, 2008, Amazon announced they would purchase Audible for about $300 million. In April of that year, Audible began producing exclusive science fiction and fantasy audiobooks under its “Audible Frontiers” imprint.

Today, Audible has 80,000 hours of audio programs from 270 content partners that include leading audiobook publishers, broadcasters, entertainers, magazine and newspaper publishers, and business information providers. The company has worked out-licensing deals with more than 225 content partners, allowing it to avoid the copyright complications that ensnared the music industry’s relationship with the Web. Audible offers spoken versions of periodicals such as the Wall Street Journal in addition to a range of books and some original content produced for Audible.com.

According to en.wikipedia.org; referenceforbusiness.com. Source of photo: internet