U.S. Audiobook Sales Surge to $2 Billion in 2024
The audiobook market in the United States continues to soar, with revenue reaching an impressive $2 billion in 2023, marking a 9% increase from the previous year. This data comes from the Audio Publishers Association’s annual sales survey, conducted by Toluna Harris Interactive and featuring insights from 27 major publishers such as Audible, Hachette Audio, and Penguin Random House.
According to the latest consumer survey by Edison Research for the APA, a staggering 52% of U.S. adults, nearly 149 million Americans, have indulged in audiobooks. The survey also revealed that 38% of American adults listened to audiobooks in the past year, showcasing a notable rise from the previous year’s 35%.
Audiobook enthusiasts are showing a growing appetite for content, with the most dedicated listeners consuming an average of 6.8 titles in 2023, up from 6.3 in 2022. On a broader scale, the average number of audiobooks enjoyed by individuals last year was 4.8, an increase from 4.0 in the preceding year.
Notably, audiobooks are gaining traction among children, with 53% of parents who listen to audiobooks stating that their kids also partake in this form of entertainment. Many parents appreciate audiobooks as a healthy alternative to screen time for their children.
The survey also highlighted the rise in subscriptions to audiobook services, with 63% of recent listeners currently subscribed to at least one service, a slight increase from the previous year’s 62%. Furthermore, 46% of audiobook consumers reported borrowing digital audiobooks from libraries in the last year.
In terms of content preferences, fiction continues to dominate the audiobook market, accounting for 64% of sales revenue. However, categories such as history/biography/memoir, health and fitness, religious/faith-based titles, and romance are experiencing significant growth.
Despite the industry’s success, piracy remains a pressing issue, with 47% of respondents admitting to obtaining audiobooks for free through platforms like YouTube or file-sharing websites. As the audiobook market continues to expand, combating piracy will be a key challenge for publishers and distributors alike.