Audiobook sales have finally surpassed e-books
Digital book sales in the United States have been strong since the summer. In August 2024, e-book revenues were up 6.1%, generating 90.4 million dollars. Year-to-date e-book revenues were up 3.5% compared to the first eight months of 2023, for $687.4 million. It is good to know that people are reading digitally again, whether on their Kindle, Kobo, Nook e-readers or through various apps for smartphones and tablets.
Audiobook sales in the digital format continue to be the fastest-growing segment in digital publishing. Audiobooks have surpassed e-book sales for August and the first eight months of the year for the first time. The Digital Audio format was up 38.8% for August, coming in at $93.9 million in revenue. Physical Audio was down 54.8%, coming in at $600 thousand. Year-to-date digital audiobook sales were up 26.8%, reaching $707.1 million in revenue. Physical Audio was down 29.2%, coming in at $5.8 million.
In terms of physical paper format revenues during August, in the Trade (Consumer Books) category, Hardback revenues were up 17.1%, coming in at $297.4 million; Paperbacks were up 6.7%, with $302.0 million in revenue; Mass Market was down 35.8% to $8.6 million; and Special Bindings were up 3.6%, with $21.5 million in revenue. Year-to-date Hardback revenues were up 8.0%, coming in at $2.0 billion; Paperbacks were up 5.9%, with $2.1 billion in revenue; Mass Market was down 18.1% to $81.9 million; and Special Bindings were up 6.0%, with $133.0 million in revenue.
This data comes from the Association of American Publishers (AAP) StatShot, which reports publishing houses’ monthly and yearly revenues from U.S. sales to bookstores, wholesalers, direct-to-consumer, online retailers, and other channels. StatShot draws revenue data from approximately 1,280 publishers, although participation may fluctuate slightly from report to report.
Michael Kozlowski is the editor-in-chief at Good e-Reader and has written about audiobooks and e-readers for the past fifteen years. Newspapers and websites such as the CBC, CNET, Engadget, Huffington Post and the New York Times have picked up his articles. He Lives in Vancouver, British Columbia, Canada.
