Image credit: geekwire
Audiobooks have been prospering in the book industry for the past many years now. In 2020, audiobooks accounted for about ⅙th of the books sold that year. Additionally, its global worth stood at USD 5 billion in 2022. So they are, undoubtedly, one of the fastest-growing domains of the book publishing world. That’s why, whether it’s online platforms or traditional bookstores, both are integrating audiobooks into their book offerings.
Bookshops are now partnering with Libro.fm to offer audiobooks to their customers. These audiobooks will be available both individually and through credit models to give these stores an edge amidst the competition. Libro.fm is a social purpose corporation that allows readers/listeners to access their favorite audiobooks through local bookstores. With their services, the company aims to leverage the local economy and offer jobs while making a difference in the community.
Libro.fm was discovered back in 2014, and it has over 2,200 bookstore partners that are updated hourly to see over 400,000 DRM-free digital audiobooks.
Whenever readers associate with any bookstore through their Libro.fm account to buy a book, the profits are shared with the bookstore. This includes the profits related to monthly memberships, credit bundles, individual purchases, and audiobook gifts.
Co-Founder and CEO of Libro.fm, Mark Pearson, highlighted the fact that despite having just 18 employees in both the US and UK, the company has “experienced firsthand the impact of large corporations on their business, just like many independent bookshops have.” He believes that there is irreplaceable value of conventional and independent bookshops in the community, and that’s why they aim to expand globally. With their expansion, Pearson said that the Libro.fm wants to “provide readers, authors, and publishers with new ways to help their local bookshops thrive via audiobooks, all while making reading more accessible.”
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.