Audiobooks continue to take the book market by storm, with a projected revenue of over $5.38 billion.
This is likely to increase by 26.4% yearly, resulting in $35.05 billion in revenue in 2030.
In fact, audiobooks are the fastest-growing book format in the US in terms of revenue, production and sales growth.
Books have long been a valued companion for knowledge, learning, empathy and creativity. However, the rising trend of audiobooks clearly demonstrates that people more often, prefer to listen rather than read.
In fact, Amazon’s Audible makes up 4.2% of Amazon’s book publishing revenue and creates 10,000 book titles yearly.
With the continued rise in audiobook and e-book formats, how long will it be before the audiobook replaces traditional reading entirely?