The book market is rapidly growing. And no, this is not about the rise of new authors. It is about how new technologies are elevating the reader experience. Among these is the introduction of audiobooks.
If you have spent so much of your time writing an e-book, why not take another step and publish it as an audiobook as well? Publishing an audio format of your book can help you unlock an additional sales channel for your book.
From access to a wider audience to a worry-free life associated with no inventory costs, an audiobook is changing the game for authors.
This guide will help you identify the strong position an audiobook has in the publishing industry. Keep reading to learn some of the most amazing facts about audiobook publishing!
Is there a platform to publish these books?
Of course! Here is a list of some of the major publishing platforms for audiobooks:
- Amazon ACX program
- Kobo
- Overdrive
- Audiobooks.com
- Scribd
- Findaway voices by spotify
If you have a top-notch manuscript that deserves to be a part of the audiobook format, don’t stop yourself! Begin your journey with professional audiobook publishing services and get connected with a seasoned narrator to convert your words into a compelling narrative.
The Crazy Stats!
The audiobook market is rapidly growing. Within the next 5 years, the audiobook market is all set to have 1.8 bn users worldwide! The revenue is projected to reach a total of US$ 9.84bn this year. So what made this format so popular?
Well, it all started with the massive transformation that happened during COVID. Bored and at-home users found ways to escape the negativities associated with pandemic-related news.
As a result, an audiobook provided a reliable solution to escape from reality. They helped people dive into a world of storytelling that takes them far away from the frightening environment.
And this is why the usage of audiobooks witnessed significant peaks between 2019 and 2020.
The Market Of Audio Books- What Is Going On?
Audio books are significantly thriving in the global market. Consumers are rapidly shifting to formats that offer them convenience.
Publishing platforms, such as Kindle Direct Publishing services, can be used to publish e-books, while authors can publish audiobooks through Amazon ACX.
In this way, reading enthusiasts can seamlessly transition between the e-book format and professionally narrated stories, depending on their mood.
And of course, who would not like to have free hands and just listen to something that keeps them distracted from their inner thoughts?
Both genres- fiction and nonfiction continue to take over the world of audiobooks. However, certain types are not recommended to be converted into these formats.
How-to guides, cookbooks, and reference books, basically something that has technical jargon or is full of instructions, are a less suitable option. Their less narrative nature makes it difficult to convey the message through audio.
However, common genres such as mystery, horror, and romance are more preferred for an audiobook format. Imagine someone travelling, running on a treadmill, or just trying to sleep, a good audiobook will set a calm and peaceful environment.
Unlike technical books, which require attention, these genres allow the readers to enjoy the books while creating a captivating experience.
What About The Target Audience For These Books?
So, before you plan to publish your book in an audio format, of course, you would want to know about the audience.
Is there any demand for it? Of course there is! The groundbreaking stats must have given you the idea of how audiobooks are booming in the industry.
But who is the target audience? What are the needs of these people? Let us tell you.
- Fifty percent of the audio market is dominated by people under 50 years of age.
- The majority of the listeners come from urban areas.
- In the US, individuals with higher household incomes were reported to be more engaged in listening to audiobooks compared to those with lower incomes.
- About 55% of the audiobook audience is made up of women!
Going beyond stats, people are now choosing audiobooks for certain reasons. Here is why:
- Audio books act as a feasible option for busy individuals. People can easily carry out their day-to-day tasks while ticking off their to-do lists.
- Children with weak listening skills are shifting to this format to improve their skills.
- People who struggle to sleep peacefully play an audiobook and give rest to their brains.
- The rise of health-conscious customers somehow impacts every industry. People are now making well-informed decisions before making purchase decisions. The use of audiobooks helps reduce the strain on eyes and offers a healthy alternative for book lovers.
- People with visual impairments or conditions such as dyslexia can make the most out of these books. Audio books allow them to connect with a narrator and have a soothing experience despite their limited reading abilities.
How Much Time Does an Audiobook Take?
This is another interesting fact about an audiobook. The average rate it takes to complete an audiobook is 11 hours. Completing the production of 1 hour of this audio takes about four to six hours in total.
The Top Audio Book Genres- What Do People Love Listening To The Most?
The genre of literature and fiction has taken over the industry, with approximately 5 million sales generated.
Next comes the mystery, thriller, and suspense genre. It seems that a large number of people enjoy being enveloped by curiosity, excitement, and anticipation while someone else tells the story!
The rest of the order goes as follows:
- Science fiction and fantasy.
- Romance
- Business and Money
- Children’s Literature
- Biographies and Memoires
Where Does An Audiobook Fit Into The Everyday Life Of An Individual?
People are busy and life goes on… But what about book lovers? An audiobook is like a companion that sticks with them everywhere. Let’s take a look at how it seamlessly integrates into the daily routines of people.
More than 70% of individuals play audiobooks while travelling. To spend the hours without getting bored, people make the most out of these books while engaging their selves in them.
The rest of the story comes to about 30% of people who are at home. Audiobooks provide a great company to individuals who have responsibilities of completing boring, repetitive tasks in their daily routines.
A smaller percentage of people have also mentioned enjoying audiobooks during various life tasks. These include workout sessions, shopping, and even during their office hours. In short, audiobooks have taken a strong place in the hearts of people.
These engaging experiences of storytelling help listeners to actively participate in their daily tasks while immersing in fascinating literary experiences.
Wrapping Up:
The audiobook market is flourishing. And nothing is going to stop it anytime soon. As an author, this format introduces you to an extra revenue source and helps in getting recognized by a new audience.
So in this dynamic world, where readers focus on multitasking, an audiobook is your chance to invite people to enjoy a fresh and immersive narration of your story while they carry out their daily tasks.
