In recent years, there has been a huge surge in audiobook popularity, and the audiobook industry has made listening to new reading. As more and more people look for easy ways to fit reading into their busy lives, audiobooks have become a convenient and accessible option.
Also, with dynamic narration techniques and lifelike quality of recordings, these books are the new rising trend of literature and anecdote sharing. Voiceovers are no longer just a medium of telling stories but added enhancers that absorb and transport listeners to different realms of experiences. It leaves room for every listener to add their personal touch of creativity in perceiving the stories, making them more relatable and amusing.
Audiobooks in The Rise of Pandemic
The pandemic led people to resort to the digital way of life, including audiobooks and ebooks. Life back then became limited to the virtual world within gadgets. With no access to physical libraries and bookstores, bibliophiles found audiobooks a way of delightful amusement along with popular ebooks apps. In fact, the whole education system had to be established over the Internet, making educational audiobooks one of the most sought-after mediums of online learning.
This rage of narrating and listening to books is likely to grow more and more in the times ahead. According to a report by Grand View Research, “The global audiobooks market size was valued at USD 5,364.9 million in 2022 and is expected to expand at a CAGR of 26.3% from 2023 to 2030.”
As the audiobook industry continues to grow, more publishers and authors are recognizing the potential of this format. Many new books are being released simultaneously in audiobook format alongside print and ebook versions.
Audio in the New-Age Tech
The evolution of technology is undeniably one of the main reasons for people’s increased interest in audiobooks. The smartphone era has played a significant role in this. From winding down in your living room to killing boredom as you hit the showers, you can listen to your favourite novel or show instantly. There’s no restriction of movement or action to keep you away from this auditory entertainment source.
So, the ease of exploring, storing, and accessing countless vocal stories with just a tap is a significant factor in the widespread buzz of audiobooks. According to the retail sales monitoring service Nielsen – about 27 million audiobooks were purchased in the UK last year. It was more than four times as many sold just a decade ago. A report by BeyondWords on the consumption of audiobooks in the US stated that 47% of the population subscribed to audio sources in 2022.
Another factor contributing to the popularity of audiobooks is the increasing number of high-quality narrators and productions. Audiobooks are no longer limited to dry, monotone readings. Many audiobooks now feature top actors, comedians, and other celebrities as narrators, adding a new level of entertainment to the life of book lovers.
Tech Giants in Audiobook Industry
The demand for audiobooks is leading many of the world’s tech giants to invest heavily in the industry. While Audible, owned by Amazon, remains the biggest audiobook platform, Spotify launched its own service last year, offering more than 300,000 titles. Spotify sells audiobooks in Canada, UK, Australia, and many other countries. Moreover, Apple and Google have started to offer authors the chance to use AI narrators. These days, thousands of AI-narrated books are available on Google Play Books and Apple Books with new features.
Overall, the audiobook boom has made listening to new reading. Also, with audiobooks, there’s a company with you all the time, no matter where you go and what you do. You can effortlessly listen to your favorite story, novel, or book while walking or traveling.
Navkiran Dhaliwal is a seasoned content writer with 10+ years of experience. When she's not writing, she can be found cooking up a storm or spending time with her dog, Rain.
