Publishing Industry Market Update; Vol. 3, Issue 7

Audiobooks Stay White-Hot 

The Audio Publishers Association reported double-digit revenue growth for an astonishing 10th consecutive year.  2021 audiobook sales saw an increase of 25% over 2020 – a year that was itself up 12% over the prior year.  The genre leading the way: romance, with a 75% increase in revenues for 2021.  No editorialization on such a figure will be provided by Market Update at this time. 

The number of audio titles produced in 2021 was also up—6% over the title count in 2020—for a total of 74,000 titles released in audio.  

More stats (because that’s what we do here): 

• 41% of audiobook listeners subscribe to at least one membership service (up from 38% in 2020).
• 61% of parents say their children (17 and younger) listen to audiobooks, up from 49% a year ago.

Not sure how to feel about that last figure, as it could indicate a decrease in literacy.   Perhaps it’s time to employ a centuries-old parenting mantra: “Do as I say, and not as I do.”

Bookstores Bounce Back

Continuing a welcome trend, bookstore sales continue to rise.  Q1 of 2021 saw bookstore revenues up 16% over the prior year. But that number is down 8.5% from Q1 of pre-pandemic 2019.  So, we aren’t quite there yet. But looking ahead, we already have April numbers, and our bookstore friends outperformed last April by 31%, helped by a late Easter. That big April puts bookstores 19.4% over 2021 for the first 4 months of this year.

Also important, as has been the trend for the last several quarters, the retail bookstore segment’s 16% jump continues to outpace overall retail, which saw only a 12.3% increase in Q1.

Weekly Numbers—June 2022

Here are the weekly results for June:

          Week ended June 11, 2022: Down 5.3%

          Week ended June 18, 2022: Down 4.8%

          Week ended June 25, 2022: Down 9.4%

TAKE ACTION:  ACU 2022-23 Enrollment Opening Soon

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The enrollment period for the 2022-23 Author Coaching University term is not open yet, but you can join our waitlist and be one of the FIRST to know when the application window opens for the next session!

Not sure about Author Coaching University? Watch a recent recording of the ACU cohort session now. Not only will it provide you an idea of what YOU can experience in this amazing community, but we hope you will take advantage of the FREE content you will hear with its discussion, questions, and tips.