Audiobook downloads in the UK between 2022 and 2023 have increased by 17 percent, The Guardian reported citing data from the Publishers Association. The total number of audiobooks downloaded during the period has jumped from 50 million to 59 million during the period. This has contributed to a 24 percent growth in revenue to £206m in 2023. Total publishing revenue in 2023 made it past the £7bn mark for the first time ever.
“It’s fair to say that audio is now a really serious part of the publishing portfolio,” said the chief executive at the Publishers Association, Dan Conway. “Audiobooks have established themselves as a major route to market for consumers of books in this country.”
Data from the Publishers Association further revealed the value of the consumer export market witnessed an 8 percent growth in 2023 to £918m. The top three markets where books from the UK have been exported include Australia, the US, and Germany. Demand for fiction titles saw an 8 percent jump to attain a value of £907m during the period.
“Within that, it’s science-fiction, crime, fantasy, and also romance that are doing well as genres. Richard Osman has obviously had a very good year, and also the likes of Colleen Hoover who was a BookTok sensation”, said Conway.
Similarly, demand for consumer non-fiction titles grew by 5 percent, which in value terms stands at £1.1bn. Within this category, royal biographies have done particularly well thanks to the stupendous success of titles such as Spare by Prince Harry. This provided readers with a rare peek into the inside of the royal family while demand for the book remains strong and steady.
Conway also stated the publishing industry has been growing over the past five years and believes the growth momentum will remain steady for next year as well. However, rising costs continue to be a concern for publishers who are grappling with ways to balance input costs while maintaining profitability.
With a keen interest in tech, I make it a point to keep myself updated on the latest developments in technology and gadgets. That includes smartphones or tablet devices but stretches to even AI and self-driven automobiles, the latter being my latest fad. Besides writing, I like watching videos, reading, listening to music, or experimenting with different recipes. The motion picture is another aspect that interests me a lot, and I'll likely make a film sometime in the future.