With the audiobook market booming, many authors might be wondering whether their books should be published in this format.
The short answer? Yes. The long answer? Also yes. While of course there are many factors to consider—such as being self vs. traditionally published, costs, and more—audiobook creation is not only easier than ever, but also the potential payoff is huge; in 2023, U.S. audiobook sales hit $2 billion dollars, and they have been steadily growing year over year. In fact, the global audiobook market is projected to reach $35 billion by 2030!
Accessibility
Audiobooks were first invented in the 1930s by The American Foundation for the Blind and the Library of Congress. From the start, audiobooks were about making stories more accessible. In the ‘80s, publishers began opening audio publishing divisions.
Audiobooks are not only important for those who are visually impaired or have other disabilities that prevent them from reading physical or ebooks, but for readers who have a hard time fitting physical reading into their routines. Audiobooks enable more space for reading, especially with young children or long commutes. By creating an audiobook version of your book, you automatically increase the odds of reaching more readers.
Reach
Speaking of reach, 52% of U.S. adults have listened to an audiobook. That’s nearly 149 million people! And that number only continues to grow. Even if you think your book isn’t a good “fit” for audio, 53% of audiobook listeners with children have their kids read on audio and all genres are popular:
“Fiction remains the top category among audiobook consumers for the third consecutive year, accounting for 64% of sales revenue. The fastest-growing categories include history/biography/memoir, with 22% growth; health and fitness, with 20% growth; religious/faith-based titles, with 17% growth; and romance, with 14% growth.”
Publishers Weekly
In Europe, the market is expected to grow by 18.6% every year until 2025. More and more people are turning to audiobooks, and by tapping into the market, there’s a likelihood that you’ll see the benefits.
Resources
With a booming market comes the creation and availability of tools to help authors create an audiobook version of their book. If you are a traditionally published author, make sure to speak with your publisher about audiobooks and what plan they have.
If you’re self-published, the task might seem more daunting, especially if you don’t have experience with audiobook production. There are many audiobook creation systems available these days to help authors along every step of the process, from finding professional narrators or voice actors, to marketing and promotion.
While many authors immediately think of Amazon’s Audiobook Creation Exchange (ACX) or Spotify’s Findaway, there are plenty of independently-owned alternatives available. You can learn more about resources for creating an audiobook in our guide.
And once your audiobook is created, check out our resources for audiobook promotion!
As the audiobook market continues to grow, so will the available resources. We at Libro.fm are committed to not only independent bookshops, but also to authors and readers, as we all play a role in the reading ecosystem. We want reading to be as accessible as possible and audiobooks play an incredibly important role in that mission.