The low cost of audiobooks allowed them to remain in high demand during the recession
Los Angeles, CA (PRWEB) July 26, 2013
In recent years, the Audiobook Publishing industry has significantly benefited from rising product downloads as consumers have been quick to adopt new technologies. In the five years to 2013, revenue for the Audiobook Publishing industry is estimated to expand at an annualized rate of 12.0% to $1.6 billion, including an expected 9.0% increase in 2013. Increasingly pervasive internet-connected mobile devices, which have a direct effect on industry demand, are estimated to boost the percentage of services conducted online to 9.8% in 2013, representing an annualized growth of 8.9% since 2008. “Because audiobooks are relatively cheap discretionary purchases that consumers can afford on tight budgets, the industry has been able to grow during the recession, despite consumers’ low disposable income,” says IBISWorld industry analyst Agata Kaczanowska.
The Audiobook Publishing industry has been facing an increasingly competitive environment because of the availability of alternative online content and expanded options for consumer entertainment. “This competition has been increasingly fierce because low digital-distribution costs and expanding profitability have attracted numerous new entrants,” says Kaczanowska. As a result, the industry has a low level of market share concentration and is highly fragmented. Additionally, many e-book publishers are now involved in audiobook publishing. This reflects consumer interest surveys, such as one published in 2011 by the Audio Publishers Association, which indicated that about one-half of recent audiobook buyers are interested in integration with e-books. As a result, the number of audiobook publishers is estimated to rise at an annualized rate of 17.0% to 628 businesses during the five years to 2013.
In the five years to 2018, rising disposable income will support revenue growth as the rate of technological change slows and new entrants continue to enter the industry. The percentage of services conducted online is projected to expand significantly over the next five years. Meanwhile, disposable incomes are also estimated to increase during the period. Consequently, the Audiobook Publishing Industry is expected to experience substantial revenue growth in the five years to 2018.
For more information, visit IBISWorld’s Audiobook Publishing in the US industry report page.
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IBISWorld industry Report Key Topics
This industry designs, edits and markets audiobooks. Major sales channels include traditional brick-and-mortar and online stores. The industry does not include authors or disk manufacturers.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
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