The low cost of audiobooks allowed them to remain in high demand during the recession
New York, NY (PRWEB) August 04, 2014
In recent years, audiobook publishers have benefited significantly from rising digital sales, as consumers have been quick to adopt new technologies. In the five years to 2014, revenue for the Audiobook Publishing industry is estimated to grow at an annualized rate. The growing acceptance of broadband internet-connected mobile devices is allowing consumers to purchase industry products instantly and conveniently. This has a direct and positive effect on industry demand. Because audiobooks are relatively inexpensive discretionary purchases, the industry has been able to grow during the five-year period despite lackluster disposable income growth.
According to IBISWorld Industry Analyst Edward Rivera, “Gradually, the Audiobook Publishing industry has become more competitive because of the availability of alternative online content and expanded options for consumer entertainment.” Within the industry, competition has been increasingly fierce as low digital distribution costs and expanding profitability attract numerous new entrants. In particular, many e-book publishers are becoming involved in audiobook publishing. This reflects consumer interest surveys, such as one published in 2013 by the Audio Publishers Association, which indicated that about one-third of consumer respondents reporting that they were interested in integration with e-books or other book bundles. As a result, the number of audiobook publishers is estimated to rise at an annualized rate over the five years to 2014.
In the five years to 2019, rising disposable income and decreasing leisure time will support revenue growth as the rate of product penetration slows and new entrants continue to enter the industry. The number of mobile connections is projected to expand at an annualized rate during the five years to 2019, a large drop from the annualized growth over the five years to 2014. Meanwhile, per capita disposable income is forecast to rise at an annualized rate during the period as more people return to work. “The increase in workers will result in increased commuters who listen to industry products and increased demand for those looking to multitask amid decreasing leisure time,” says Rivera. Consequently, revenue for the Audiobook Publishing industry is forecast to grow at an average annual rate in the five years to 2019.
For more information, visit IBISWorld’s Audiobook Publishing in the US industry report page.
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IBISWorld industry Report Key Topics
Establishments in this industry primarily edit and design audiobooks. Additionally, industry operators engage in marketing activities and handle distribution agreements with wholesalers, brick-and-mortar and online stores. This industry excludes work completed by 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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