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Saturday, June 10, 2017

Should More Authors and Publishers Release Audiobooks?



Should more authors and publishers issue an audiobook version of their books?

According to the sales reported for audiobooks the answer is a resounding yes.

The Audio Publishing Association says sales revenue from audiobooks rose by 18.2%, from 2015 to 2016. Sales totaled 2.1 billion dollars.

Unit sales rose dramatically – by 33.9%- to 89.5 million. Ssales reported were based on 20 audiobook publishers. The number of titles from these publishers is booming.  There were 43.1% more audiobooks published last year than in 2015, topping 50,000 for the first time ever.

Digital downloads take the lion's share, accounting for 82.4% of all audiobook sales -- up from 76.8% a year ago.

But there’s room to grow.  76% of Americans didn’t listen to a single audiobook in 2016, according to a study by Edison Research.  The market is far from saturated.

Audiobooks add another sales channel for authors.  The content already exists – why not do an audiobook?  People consume books in all formats and fashions.  To meet the demand of consumers, authors and publishers should issue audiobooks for new books and even some backlist titles.

Given the popularity of podcasts, it’s no surprise that audiobooks are growing.  Further, with the ability of consumers to easily download an audiobook to any device, 24-7, you can see why audiobooks are growing.  They offer an element of theater – you don’t have to watch or read, just listen.  Audiobooks are perfect for vacations, travel time, exercise, and when running errands.  Sometimes we need to restores eyes and music or radio talk shows don’t captivate u like audiobooks.

Audible.com, owned by Amazon, appears to dominate the audiobook market.  The most popular audiobook genres in 2016, according to goodereader.com, were mystery, thriller, romance, and fantasy/science fiction.

So where do you go produce an audiobook?  Check out:

Infinity Publishing
Dog Ear Publishing
CD Baby
eBookit
Audiobook Creation Exchange.

Online distribution outlets include:

Overdrive
Downpour
Big Happy Family

PW estimates an audiobook could be produced, recorded, proofed and mastered for around $3,500.

Another growth area would be translated audiobooks. Why not do one in Spanish, Chinese or some other popular language?  You can then sell your audiobook overseas or to Americans who prefer non-English content.

Audio is the new Wild West. It will become saturated at some point, but right now it’s ripe with opportunity.


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Brian Feinblum’s views, opinions, and ideas expressed in this blog are his alone and not that of his employer. You can follow him on Twitter @theprexpert and email him at brianfeinblum@gmail.com. He feels more important when discussed in the third-person. This is copyrighted by BookMarketingBuzzBlog 2017©. Born and raised in Brooklyn, now resides in Westchester. Named one of the best book marketing blogs by Book Baby http://blog.bookbaby.com/2013/09/the-best-book-marketing-blogs 

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