Audiobooks 2020 – the fastest growing segment of publishing.

The market for audiobooks is red hot and represents the fastest growing segment of the publishing industry. According to audiobook revenue in 2018 grew 24.5% over the prior year to $940 million and similar growth continued into 2019. And the sales continue to trend upward for 2020. All book formats are getting a healthy lift do the covid pandemic which has caused people to stay inside and entertain themselves or learn something new.

Foundation to the growth in audio book sales are ever growing number of computers, smartphones, and tablets in use around the world. Consumers can easily purchase and instantly listen to their favorite books almost anywhere. You can see this growing trend for yourself as most top selling books are now being created as audiobooks in addition to eBook and paperback formats. This is true both self-published as well as traditionally published books.

Interestingly, Amazon has seen this interest in audiobooks and purchased Audible a few years ago. They also own ACX (Audio Creation Exchange), which is the major distributor of audiobooks to Amazon, Audible, and iTunes, the three big platforms for audiobook sales. And while ACX is an option for distribution for indie authors, more and more distribution options are becoming available, each with their own unique features. Additional subscription-based platforms are also coming online, increasing the demand for more content.

Audiobooks as a medium offer unique production opportunity as opposed to paperback books or eBooks as they can bring the written word to life via voice and sound effects furthering the opportunity for creative production and expression. Often actors are chosen to narrate audiobooks helping to add interest and depth. And many authors have become involved in the auditioning and selection of voice talent.

What’s more, some people prefer audiobooks because they can’t read or don’t like to read. They are also popular with people on the move and a great alternative to screen time.

At Let’s Write Books, Inc. we are excited about audiobooks because the digital platform enables us to easily repurpose the content of books while tapping into more channels of distribution, which means more people are exposed to a book resulting in more sales and royalty payments for an author.

For 2020, the Let’s Write Books, Inc. audiobook program builds on our extensive experience converting books to audiobooks. Like most other aspects of the publishing journey it is best when you have an experienced guide. Whether you would like us to handle the entire project, advice on how to find a studio to record yourself, or just want to explore the many options available for producing and distributing audiobooks, we can help.