Purpose Publishing
  • About
    • Why Choose Us
  • Pricing
    • Black and White Packages
    • Color Book Packages
    • Additional Services
    • Compare Us
  • Products
  • Books
  • Events
  • Contact
  • Blog
  • Author Book Orders
  • Schedule A Meeting
  • AUTHORity Acdemy

The Audiobook Market is Growing and Shaking Things Up

5/21/2020

0 Comments

 
The Audiobook Market is Growing and Shaking Things Up
Audiobooks is the fastest growing segment in the publishing industry right now. For traditional publisher’s audiobook sales mitigated declines in e-book sales, and trade publishers are bullish on audiobooks going into 2020. Audible (owned by Amazon) still has the lion’s share of the audiobook marketing but others are trying to make inroads. 2020 may well be the year when we see new and existing players disrupt the established order.
 
Audiobooks.com was acquired by a media group in 2017, Apple’s exclusivity agreement with Audible ended last year and more players are getting into the mix with Kobo launching their own audiobook subscription service in late 2017. This gives indie authors more control and more opportunity to launch into the audiobook industry.  Digital audiobooks will remain the fastest growth area in publishing with sales increasing 30% to 40% or more. The dynamics—ease of access for consumers, lifestyle habits, increased market competition, new selling models—have all synced up to create significant staying power. It should surprise nobody when the market size of audiobooks surpasses eBooks in a few years.
 
In 2020, we expect to see independent authors empowered to capitalize on this explosive growth. Indies will take advantage of wide distribution (domestic, international, and public library), realize the advantages at key retailers of setting prices to meet consumer demand, and benefit from more discovery tools created to connect authors with their audiences outside traditional audiobook credit models.”
 
What this means for you: Producing an audiobook runs into the thousands of dollars or requires giving up significant royalties and is still a significant investment for authors. New authors who find the price tag too steep are best off focusing on building their catalog of e-books first. Authors who are looking to invest in their publishing business should definitely have audiobook expansion on their list for 2020. All authors should keep an eye on the market and look to support audiobook retailers and production companies that are author friendly.
 
Do you have a book already? Have sales slowed? Consider breathing new life into it with an Audiobook format. It’s easy and affordable! We can help. www.PurposePublishing.com
​
Picture
0 Comments



Leave a Reply.

    Categories

    All
    Announcements
    Coaching
    Creating
    Editing
    Promoting
    Tools
    Writing

    Archives

    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    January 2019
    December 2018
    November 2018
    October 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015

    Categories

    All
    Announcements
    Coaching
    Creating
    Editing
    Promoting
    Tools
    Writing

    RSS Feed

Powered by Create your own unique website with customizable templates.