The global audiobook services market is anticipated to grow at a considerable CAGR of 20.5% during the forecast period (2023–2030). The key factor behind this growth is the increasing number of audiobook listeners. According to an annual survey conducted by the Audio Publishers Association (APA), a non-profit trade organization in America, 56% of audiobook listeners were under the age of 45 in 2021, a 52% rise from 2020. According to the survey, over 71,000 audiobooks were published in 2020, with the number of youngsters under the age of 17 listening to audiobooks rising from 35% to 49%. As per the same source, a survey conducted in January-February 2022 reported that since 2017, the share of time spent listening to audiobooks has increased by 106% among Americans aged 13 and older.
Another factor that is accelerating the market’s growth is the increase in subscription-based audiobook services, new audiobook platform launches, and expansions by key market players. For instance, in March 2023, Telmore, a subsidiary of Nuuday, announced the debut of the second version of its Telmore Play service, which includes a variety of streaming services for the price of a mobile subscription. The new launch is intended to address consumer demand for a more flexible entertainment offering while also being at the forefront of a continually developing market. Telmore Play will offer an audio and e-book service, as well as the music streaming service Telmore Musik, in addition to the five main streaming services for films and series. Additionally, in March 2023, Libro.fm, a digital audiobook platform that contributes a percentage of each audiobook sale to a customer-selected small bookshop, announced that it will debut its audiobook service in the UK, Australia, and New Zealand in July 2023. The North American employee-owned firm will work directly with commercial publishers such as Penguin Random House UK, Simon & Schuster UK, Pan Macmillan, and Hachette UK, as well as indie publishers such as Boldwood, Faber & Faber, and Naxos.
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Market Coverage
- The Market Number Available for – 2022-2030
- Base year- 2022
- Forecast period- 2023-2030
Segment Covered-
- By Genre
- By Preferred Device
- By Service Type
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Amazon.com, Inc. (Audible), Blackstone Audio, Inc., Brilliance Publishing, Dreamscape Media, LLC, Hachette Book Group, Inc., and others.
Audiobook Services Market Report Segment
By Genre
- Fiction
- Non-Fiction
By Preferred Device
- Smartphones
- Laptops and Tablets
- Personal Digital Assistants
By Service Type
- One-time Download
- Subscription-Based
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Audiobook Services Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- com, Inc. (Audible)
- Blackstone Audio, Inc.
- Brilliance Publishing
- Dreamscape Media, LLC
- Hachette Book Group, Inc.
- Harlequin Enterprises ULC
- HarperCollins Publishers LLC
- Macmillan
- Novel Audio Inc.
- Oasis Family Media
- Penguin Random House LLC
- Podium Publishing ULC
- Recorded Books, Inc.
- Scribd, Inc.
- Simon & Schuster, Inc.
- W F Howes Ltd.
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