Audiobook Publishing in the US - Industry Market Research Report

All Ears: The Move to Digital Media is Driving Growth in Audiobook Demand

The Audiobook Publishing industry has exhibited strong growth as consumer demand for audiobooks has flourished. The simultaneous rise of the digital audiobook format and accelerated smartphone usage has made audiobooks more accessible to a broader audience than ever before. Shifting media consumption habits among consumers have primarily been in favor of audiobooks. Stoked by the increasing popularity of podcasts and online radio shows, consumers have turned to audiobooks as a convenient form of entertainment and education. Audiobook sales underwent significant expansion during the pandemic, even as sales of print books declined, as consumers following social-distancing measures flocked to digital media consumption. Overall, increased accessibility and shifting consumer preferences have resulted in outsized growth. Audiobook publishing revenue is estimated to increase an annualized 8.3% to $1.6 billion over the five years to 2023, including 5.6% growth in 2023 alone, as profit labors to 3.2%. Establishments in this industry primarily edit and design audiobooks. Additionally, industry operators engage in marketing activities and handle distribution agreements with wholesalers, brick-and-mortar and online stores. This industry excludes work completed by authors or disc manufacturers. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.