Audiobook Publishing in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: May 2024
NAICS OD4396Revenue
$2.1bn
Past 5-Year Growth
Profit
$XX.Xm
Employees
4,829
Businesses
184
Wages
$XXX.Xm
Audiobook Publishing in the US industry analysis
The Audiobook Publishing industry has grown enormously as the need for audiobooks has flourished. Audiobooks have skyrocketed in popularity since the widespread adoption of smartphones. Shifting media consumption habits among consumers have primarily been in favor of audiobooks. Stoked by the increasing popularity of podcasts and online radio shows, consumers have turned to audiobooks as a convenient form of entertainment and education. <br />Audiobook sales boomed during the COVID-19 pandemic even as sales of print books declined, as consumers following social-distancing measures flocked to digital media consumption. Overall, increased accessibility and shifting consumer preferences have resulted in outsized growth. Audiobooks have become a staple of passive media consumption, perfect for long drives or study sessions. The industry has expanded exponentially across the board with revenue expected to balloon at a CAGR of 3.5% to $2.1 billion through the end of 2024, including an expected 3.0% growth in 2024 alone. <br />The number of mobile internet connections and e-commerce sales reflects audiobook sales, with both experiencing rapid growth thanks to consumers' increasing propensity to shop online. Consumers find value in subscription-based audiobook services because of the convenience and flexibility such services provide. For example, Audible Inc. has been at the forefront of the industry regarding audiobook sales and publishing activity. Overall, rising consumer preference for subscription-based services (e.g. Netflix, Spotify, Amazon Prime) has bolstered the audiobook publishing industry. The pandemic accelerated these trends as consumers with higher spending power increased their usage of subscription-based services for digital entertainment.<br />The Audiobook Publishing industry is expected to continue growing, albeit slower. Gradual market acceptance will be the primary factor resulting in slowed growth. The industry has room to expand as publishers increasingly invest in audiobook publishing and incentivize print readers to switch to audiobooks through early digital releases. Revenue is expected to hike at a CAGR of 2.8% through the end of 2029 to reach $2.4 billion.
Trends and Insights
- Increases in per capita disposable income and internet use have created perfect conditions for expanding the audiobook publishing industry. Industry enterprises have capitalized on increased publishing activity to expand their catalogs and expand into more markets.
- The growth of digital audiobook publishing has enabled the industry to better capture the young adult demographic market. The pandemic boosted digital publications, as many individuals with more spare time increased their consumption of digital media products.
- Audiobook publishers leverage proximity to key downstream markets in metropolitan hubs like California and New York. These areas have burgeoning media sectors, which provide the requisite talent pool and greater access to potential authors.
- Audiobook publishers compete heavily on price. To expand their customer bases, they must remain price competitive with other publishers in this industry.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 3.5 % over the past five years, to reach an estimated $2.1bn in 2024.
Trends and Insights
Improving consumer conditions and technologies have compensated for intensified competition
- New technologies are making audiobooks increasingly convenient and easy to consume; spurring industry growth.
- Additional trends and insights available with purchase
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Industry enterprise navigate shifting economic conditions
- Rising disposable income and leisure time will bolster revenue for the audiobook publishing industry. Growth in disposable income will encourage consumers to spend more on discretionary purchases, such as audiobooks.
Biggest companies in the Audiobook Publishing in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Audible Inc. | 512.0 | 35.1 | 6.9 | |
Penguin Random House Audio | 373.7 | 47.3 | 12.7 |
To view the market share and analysis for all 2 top companies in this industry, view purchase options.
Products & Services Segmentation
Audiobook Publishing in the US
Products & Services
Industry revenue is measured across several distinct product and services lines, including Digital audiobooks - fiction, Digital audiobooks - nonfiction and CD audiobooks. Digital audiobooks - fiction is the largest segment of the Audiobook Publishing in the US.
Trends and Insights
Digital downloads undergo a demand surge
- Collectively, digital downloads dominate the Audiobook Publishing industry. This segment is representative of consumers downloading or streaming audiobooks through relevant marketplaces or platforms. Digital downloads are estimated to account for over 97.9% of industry revenue in 2024, with more than half of that attributed to fiction titles.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- There are no industries to display.
Complementors
- Recordable Media Manufacturing in the US
- Magazine & Periodical Publishing in the US
- Book Publishing in the US
- Software Publishing in the US
International industries
- Book Publishing in Canada
- Book Publishing in Australia
- Magazine and Book Publishing in New Zealand
- Book Publishing in the UK
- Audiobook Publishing in the UK
Table of Contents
About this industry
Industry definition
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 disc manufacturers.
What's included in this industry?
Editing, designing and marketing CD audiobooksEditing, designing and marketing digital audiobooks (fiction)Editing, designing and marketing digital audiobooks (nonfiction)Editing, designing and marketing other audiobooksCompanies
Audible Inc.Penguin Random House AudioPurchase this report to view all 2 major companies in this industry.
Related Terms
E-BOOKMP3 CDSMARTPHONEIndustry Code
NAICS 51113 - Audiobook Publishing in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Increases in per capita disposable income and internet use have created perfect conditions for expanding the audiobook publishing industry. Industry enterprises have capitali...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
The growth of digital audiobook publishing has enabled the industry to better capture the young adult demographic market. The pandemic boosted digital publications, as many i...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Audiobook publishers leverage proximity to key downstream markets in metropolitan hubs like California and New York. These areas have burgeoning media sectors, which provide ...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Audiobook publishers compete heavily on price. To expand their customer bases, they must remain price competitive with other publishers in this industry.
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Audible now operates a theater division that has commissioned new work from 55 playwrights and presented 25 performances at New York's Minetta Lane Theater. Audible continues...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Audible Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Penguin Random House Audio's performance by revenue, market share and profit margin from 2018 through 2024
Detailed analysis
- Description and key data for Audible Inc., and factors influencing its performance in the industry
- Description and key data for Penguin Random House Audio, and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Publishers have been able to capitalize on expanding per capita disposable income and time spent on leisure. These trends have shrunk slightly since their height during the C...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Profitability has been pressured by intense price competition and the industry-wide switch to prioritizing digital publishing over CDs. CD product price increases could previ...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
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Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Audiobook Publishing in the US industry in United States in 2024?
The market size of the Audiobook Publishing in the US industry in United States is $2.1bn in 2024.
How many businesses are there in the Audiobook Publishing in the US industry in 2024?
There are 184 businesses in the Audiobook Publishing in the US industry in United States, which has grown at a CAGR of 11.0 % between 2019 and 2024.
Has the Audiobook Publishing in the US industry in United States grown or declined over the past 5 years?
The market size of the Audiobook Publishing in the US industry in United States has been growing at a CAGR of 3.5 % between 2019 and 2024.
What is the forecast growth of the Audiobook Publishing in the US industry in United States over the next 5 years?
Over the next five years, the Audiobook Publishing in the US industry in United States is expected to grow.
What are the biggest companies in the Audiobook Publishing in the US market in United States?
The biggest companies operating in the Audiobook Publishing market in United States are Audible Inc. and Penguin Random House Audio
What does the Audiobook Publishing in the US in United States include?
Editing, designing and marketing CD audiobooks and Editing, designing and marketing digital audiobooks (fiction) are part of the Audiobook Publishing in the US industry.
Which companies have the highest market share in the Audiobook Publishing in the US in United States?
The company holding the most market share in United States is Audible Inc..
How competitive is the Audiobook Publishing in the US industry in United States?
The level of competition is high and increasing in the Audiobook Publishing in the US industry in United States.
