Over the last decade, audiobook listening has often been referred to as the silent revolution.
In Australia, the audiobook market continues to grow.
Some suggest the surge in popularity comes off the back of the rise in podcasts.
However, other figures suggest that throughout the pandemic, a huge market demand for audiobooks can be attributed to the families trying to balance education and entertainment for children while working from home.
Today, Audible’s children’s content has become more popular than ever, and there’s no shortage of stories, with over 50,000 children’s titles on Audible alone, including Harry Potter, Fantastic Mr Fox and The Enchanted Wood.
Audible continues to dominate the audiobook market and is now moving into the original audiobook market, which means they will produce an audio book first, without the need for a traditional print version.
The global audiobook market size was valued at USD 2.67 billion in 2019 and is expected to expand at a compound annual growth rate of 24.4% from 2020 to 2027.
But audiobooks aren’t exactly new. The term refers to any authored print book vocalised through a variety of technologies, from records to cassettes and CDs, which you may remember from your childhood.
But, there is no questioning the fact that digitally downloaded, or streamed audiobooks have added a new dimension to this heritage technology.