Audiobook gross sales have been the fastest-growing section in digital publishing for the previous 5 years. In 2023, audiobook gross sales have been up 14.9%, reaching $864.0 million in income. Nonetheless, 2024 is about to be a banner 12 months, as the primary ten months of 2024 generated $883.4 million in income. The worldwide audiobook market is about to develop to $35.05 billion by 2030.
Audiobooks have gotten extra mainstream. 38 % of American adults listened to an audiobook in 2024, up from the 35% reported in 2023. This rise indicators a rise in total consumption as effectively. Of probably the most avid audiobook listeners, those that have listened to an audiobook within the final 12 months, the common audiobook consumed was 6.8 titles within the 12 months, up from 6.3 in 2023. Of the broader group of those that had ever listened to an audiobook, the common was 4.8 audiobooks listened to within the final 12 months, up from the 4.0 common in 2023.
One important driving issue of audiobook gross sales has been subscription-based content material, akin to Audible, Scribd, Kobo, and Spotify. Subscriptions to audiobook providers proceed to develop, with 63% of those that listened within the final 12 months at the moment subscribing to not less than one service. This share is up from the 62% reported in 2023.
Fast Details
- In 2023, the U.S. accounted for over 44% audiobook market.
- There are 200,000 audiobooks on Audible.
- Piracy can be a priority for the business. 47% of those that listened to an audiobook final 12 months say they received one at no cost by YouTube or one other file-sharing web site.
- The variety of UK audiobook downloads elevated by 17% between 2022 and 2023, in accordance with knowledge from the Publishers Affiliation.
- Audiobook income rose 24% throughout the identical interval to £206m in 2023, reflecting a rise in audiobook downloads from 50m to 59m, the commerce physique stated.
- The European audiobook market is estimated to be value greater than $850 million and is projected to develop 18.6 % yearly.
- Most popular System to take heed to audiobooks; Smartphones, laptops and tablets.
- Spotify has stated that it has paid audiobook publishers “tens of tens of millions” since permitting customers 15 hours of audiobook listening in its Premium subscription bundle final autumn.
- Audiobooks are usually 28 MB or 10 hours lengthy.
Audible and AI
- Audible holds a 63.4% market share of the audiobook market in america.
- Audible is the business chief in producing income, incomes twice as a lot per audiobook bought as the remainder of the business. Nonetheless, Audible solely publishes 13.5% of the whole audiobooks every year.
- In 2024 Audible launched Digital Voice: A generic voice that may narrate books on Audible
- Additionally they unveiled AI voice replicas: Created by inviting skilled narrators to coach AI on their voices
- As of Could 2024, over 40,000 books on Audible are marked as having been created with AI.
- Audible’s aim is so as to add extra audiobooks to the service shortly and cheaply. Nonetheless, the initiative has raised purple flags for human narrators.
Michael Kozlowski is the editor-in-chief at Good e-Reader and has written about audiobooks and e-readers for the previous fifteen years. Newspapers and web sites such because the CBC, CNET, Engadget, Huffington Put up and the New York Occasions have picked up his articles. He Lives in Vancouver, British Columbia, Canada.
