The audiobook segment is on a roll with publishers reporting the tenth straight year of continuous double-digit growth. As per data revealed in an Audio Publishers Association’s Sales Survey conducted by InterQ, the segment grew by a healthy 25 percent in 2021 to record revenues of $1.6 billion. There have also been about 76,000 audiobooks published in 2021, which marks a 6 percent rise compared to the preceding year.
The survey also revealed science fiction and fantasy titles were among the most sought after, followed closely by mystery, thrillers, and suspense stories. Romance and fiction made up a close third while revenue from audiobooks for children and young adults too witnessed growth in revenue.
Meanwhile, the Audio Publishers Association 2022 Consumer Survey conducted by Edison Research also offered some interesting insights into the audiobook industry. As the survey revealed, it is now 45 percent of American adults 18 years or older, compared to 44 percent in 2020, claim to have listened to an audiobook at least once in their life. Similarly, there has been a corresponding increase in audiobook subscriptions as well, with 41 percent stating they have subscribed to at least one audiobook streaming service.
Also, while 54 percent of those who are habitual listeners of audiobooks are found to be below 45 years of age, a whopping 70 percent of those seem to agree on one thing, that audiobooks are great for relaxation. In what perhaps marks the biggest jump in audiobook userbase, 61 percent of parents say their children have taken to listening to audiobooks compared to 35 percent in 2020. Further, respondents to the survey have shown a general preference for professional narrators compared to authors reading out their own books.
The survey by Edison Research also revealed a 106 percent increase in the overall share of time spent listening to audiobooks compared to what it was in 2017. Also, daily audiobook consumption too has increased by 94 percent since 2017. Further, audiobook listeners have been found to spend more time, about 2 hours or more on average listening to audiobooks than any other audio form.
You can have more details on the survey here.
With a keen interest in tech, I make it a point to keep myself updated on the latest developments in the world of technology and gadgets. That includes smartphones or tablet devices but stretches to even AI and self-driven automobiles as well, the latter being my latest fad. Besides writing, I like watching videos, reading, listening to music, or experimenting with different recipes. Motion picture is another aspect that interests me a lot and maybe I’ll make a film sometime in the future.