Audiobooks and Where They Are Heading

This is a field that needs monumental attention. In the past year, audiobooks have grown big time! It is estimated that 26% of the American public has listened to an audiobook in the last 12 months. In fact, it has turned into a 2.5 billion dollar industry. In the last several years this industry has increased production of audiobooks by 29%. However, this is not just in America. New Zealand’s market has increased by 40%. Sweden’s market has gone from a growth of 30% to 40% as companies meet the demand of audiobook purchases. This field is going to keep increasing and companies are beginning to acknowledge this. This is a booming market! You need to pay attention to it!

Amazon and Itunes signed an exclusive deal that eliminated publishers from placing their audiobooks on their platforms. They had a monopoly until a German publisher sued them and the UK demanded that the tie between two countries be broken globally. Yes, big companies know that this industry is going to continue growing.

I market audiobooks and ebooks. In my experience, I have found very few people who understand how to do this properly. Although social media can be successful, other websites that deliver books book excerpts, advertise your listing, or use email lists have a lot of potentials. Many times, using ebook platforms that offer these type of advertisements are much more successful. On my developing website (from our parent company www.mynarrationstation.com) I discuss in depth calculations of these websites and our experiences with paid advertising.

All companies are excelling in audiobook sales. A company named New Corp said that audiobook sales rose 47%. What is truly remarkable is that they released a book that sold 490,00 copies. BUT GUESS WHAT! The audiobook version sold over 470,000 copies.

Libraries are huge sources of ebooks. They report that there is a 300% increase in the number of loaned books (We are talking about the Overdrive service libraries use). Why such a large increase? Audiobooks can cost from 25 dollars to 49 dollars and people find it much easier to borrow a book for free. Overdrive predicts monumental sales for 2018.

The Advertisement and production of ebooks is clearly a lucrative field. If you have an audiobook what platform would I suggest? I agree that ACX is a very good starting place. However, I encourage you to look at audiobook.com. They are Amazon’s (ACX) biggest competitor and they put a lot of value in their customers— especially the narrators.

Kind Regards,

Max

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