Audiobooks have become increasingly popular in recent years, with sales reaching new heights and the global market expected to grow significantly. According to statistics from various sources, audiobook sales reached US$1.2 billion in the United States alone in 2020 – a 17% increase from 2019. The global audiobook market is projected to expand at a compound annual growth rate of 24.4%, while nearly 60,000 new titles were produced last year across all genres including Mystery/Thriller/Suspense which makes up 42% of total U.S sales according to AudioFile Magazine’s 2021 Trends report.
The United States accounted for 52.8% of the global share in 2020 and 20% of American adults listen to at least one audiobook each year as estimated by Audiobook Publishers Association (APA). Over 50 percent of listeners are under 45 years old and 32 percent between 25-34; many choose this format because they can multitask while listening – an advantage that was cited by over half (52%) respondents surveyed back 2016 according Audible’s research findings reported on Marketplace website . Subscription services like Audible account for 41 %of all audio book sale whereas nonfiction & self help genre accounts 33%. Women purchased 51 5 %of books sold compared 48 5 %by men ,according Expertclick news release . As per Statista data ,Audible holds 43 7 %market share among other retailers selling audio books . Furthermore most people prefer 10-20 hours long audios as revealed through survey conducted by Digital Reader blog post published November 2019
In conclusion it is evident that there has been tremendous growth within the industry since its inception due largely increased accessibility via digital platforms such smartphones tablets computers etc., making them more accessible than ever before
This statistic is a testament to the growing popularity of audiobooks, indicating that more and more people are turning to this medium for their entertainment and educational needs. It is a clear indication that audiobooks are becoming an increasingly important part of the publishing industry, and that the demand for them is only increasing. This statistic is an important piece of information for anyone interested in the audiobook industry, as it provides a snapshot of the current state of the market.
The global audiobook market is expected to grow at a CAGR (compound annual growth rate) of 24.4% between 2021 and 2028.
This statistic is a powerful indicator of the potential of the audiobook market. It suggests that the audiobook market is on an upward trajectory, with a projected growth rate of 24.4% over the next seven years. This is an exciting prospect for audiobook publishers, retailers, and consumers alike, as it indicates that the audiobook industry is likely to continue to expand and become increasingly profitable.
Audiobook Sales Statistics Overview
In 2019, there were nearly 60,000 new audiobook titles produced.
This statistic is a testament to the growing popularity of audiobooks. It shows that more and more people are turning to audiobooks as a way to enjoy their favorite stories and authors. This is a clear indication that audiobook sales are on the rise, and that the industry is continuing to grow and expand.
Mystery/Thriller/Suspense makes up 42% of audiobook sales, making it the most popular genre in the United States.
This statistic is significant in understanding the audiobook market in the United States, as it reveals that Mystery/Thriller/Suspense is the most popular genre among audiobook consumers. This indicates that there is a large demand for this type of content, and that publishers and authors should consider creating more of this type of material to meet the needs of their audience. Furthermore, this statistic can be used to inform marketing strategies, as it provides insight into the preferences of audiobook listeners.
The United States accounted for 52.8% of the global audiobook market share in 2020.
This statistic is a testament to the immense popularity of audiobooks in the United States. It highlights the fact that the US is the largest consumer of audiobooks in the world, and that the audiobook market is thriving in the country. This statistic is a great indicator of the potential for growth in the audiobook industry, and it is an important piece of information for anyone interested in the audiobook market.
In 2016, 52% of the audiobook listeners said that they chose to listen to audiobooks rather than reading print books or ebooks because they can multitask while listening.
This statistic is a powerful indicator of the appeal of audiobooks. It suggests that audiobooks are attractive to people who want to make the most of their time by multitasking while they consume content. This could be a major factor in the increasing popularity of audiobooks, and it is something that should be taken into account when discussing audiobook sales statistics.
Subscription services like Audible account for 41% of all audiobook sales.
This statistic is a testament to the power of subscription services in the audiobook market. It shows that a significant portion of audiobook sales are driven by subscription services, indicating that they are an important factor in the success of the audiobook industry.
The Canadian audiobook market was valued at CAD 17.05 million in 2020 and is expected to grow at a CAGR of 26.1%.
This statistic is a testament to the booming audiobook market in Canada. It shows that the industry is growing at an impressive rate of 26.1%, indicating that audiobooks are becoming increasingly popular among Canadians. This is an important piece of information for anyone interested in the audiobook industry, as it provides insight into the current state of the market and its potential for future growth.
The Australian audiobook market, which is relatively smaller, was valued at AUD 58 million in 2020.
This statistic is a testament to the growing popularity of audiobooks in Australia. It shows that despite the smaller size of the market, it is still a lucrative industry with a significant value. This highlights the potential for further growth in the Australian audiobook market, and serves as an encouraging sign for those interested in investing in the industry.
Smartphone usage accounts for 56% of audiobook listening, followed by computers at 26%, and tablets at 14%.
This statistic is a telling indication of the current state of audiobook listening habits. It reveals that smartphones are the primary device used for audiobook listening, with computers and tablets trailing behind. This information is important for understanding the current trends in audiobook sales and can be used to inform decisions about how to best market and distribute audiobooks.
Audiobook listeners cite the quality of the narrator as the third most important factor for their choice of an audiobook.
This statistic is a valuable insight into the preferences of audiobook listeners, highlighting the importance of the narrator’s quality in their decision-making process. It is a key factor to consider when discussing audiobook sales statistics, as it provides an indication of what listeners are looking for in an audiobook and how they make their purchasing decisions.
As of 2019, 57% of audiobook listeners said they listen to audiobooks on their daily commute to work.
This statistic is a testament to the convenience of audiobooks, as it shows that a majority of audiobook listeners are taking advantage of their daily commute to work to listen to audiobooks. This indicates that audiobooks are becoming increasingly popular as a way to make the most of one’s time, and that they are becoming an increasingly popular form of entertainment. This is an important statistic to consider when discussing audiobook sales statistics, as it shows that audiobooks are becoming an increasingly popular form of entertainment.
In 2019, women purchased 51.5% of the audiobooks sold while men purchased 48.5%.
This statistic is a telling indication of the impact women have had on the audiobook market. It shows that women are not only interested in audiobooks, but are actively purchasing them in large numbers. This is an important statistic to consider when discussing the success of audiobooks, as it demonstrates that women are a key demographic in the audiobook industry.
As of 2021, Audible is the largest audiobook retailer, capturing 43.7% of the market.
This statistic is a testament to the success of Audible in the audiobook market. It shows that the company has been able to capture a significant portion of the market, making it the largest audiobook retailer. This is an important point to consider when discussing audiobook sales statistics, as it demonstrates the power of Audible in the industry.
According to a 2019 survey, most listeners prefer audiobooks that are 10-20 hours long.
This statistic is a valuable insight into the preferences of audiobook listeners, providing a useful guide for those looking to capitalize on the growing audiobook market. Knowing that most listeners prefer audiobooks that are 10-20 hours long can help publishers and authors create content that is tailored to the needs of their target audience.
Conclusion
The audiobook market is growing rapidly, with sales reaching US$1.2 billion in the United States alone in 2020 and expected to grow at a CAGR of 24.4% globally between 2021 and 2028. Mystery/Thriller/Suspense makes up 42% of audiobook sales, making it the most popular genre in the United States while non-fiction and self-help genres account for 33%. The majority of listeners are under 45 years old, with over 50%, choosing to listen rather than read due to their ability to multitask while listening. Subscription services like Audible make up 41% of all audiobooks sold, followed by smartphone usage accounting for 56%. Women purchased 51.5% of all books sold compared to men’s 48.5%, according to 2019 data; however this could be changing as Audible captures 43.7 %of the market share as per 2021 statistics . Most listeners prefer 10-20 hour long titles when selecting an audio book which can be attributed partly due its narrator quality being cited as one third important factor when choosing an audio book Overall these stats show that there is great potential for growth within this industry both domestically and internationally
References
0. – https://www.publishersweekly.com
1. – https://www.marketplace.org
2. – https://www.apnews.com
3. – https://www.forbes.com
4. – https://www.mordorintelligence.com
5. – https://www.expertclick.com
6. – https://www.the-digital-reader.com
7. – https://www.audiofilemagazine.com
8. – https://www.publishingperspectives.com
9. – https://www.goodereader.com
10. – https://www.globenewswire.com
11. – https://www.marketwatch.com
12. – https://www.statista.com
13. – https://www.authorimprints.com
