The amount of success you will experience in the audiobook market, depends on many different factors, such as the genre of audiobook you intend to publish as well as how you will market you audiobook to the audience.
If we look at successful audiobook producers, Audible probably comes to the front of mind, and rightfully so. They have a portfolio of over 325,000 audio titles available for purchase and in 2016 they reported that over 2 billion hours of content had been downloaded, up from 1 billion hours just two years earlier. Based on these numbers, it is clear to see that the audiobook industry is not only thriving in its present state, but will also continue to experience growth – a growth that you as an audiobook publisher or producer can help contribute to.
Today, more people than ever are listening to audiobooks. Research from Nielsen’s & Consumers survey shows that 5.5 million people bought or listened to an audiobook in 2016, making audiobooks one of the fastest growing areas of publishing. When looking at the publishing numbers in 2011, audiobook publishers reported publishing almost triple that number in 2016 (a dramatic increase over 5 years).
Additionally, the numbers show that the audiobook industry is evolving. More platforms are recognizing the market potential. For instance, Spotify announced that they will be releasing audiobooks, demonstrating how the industry is constantly evolving. Marketplaces are growing in order to keep up with the demands of consumers, who are seeking more content and genres of books to be available via audiobook format.
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