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UNLOCKING POTENTIAL: PART 1
THE IMPACT OF AUDIOBOOKS AND SOME KEY STATS
Since the last statistics were released in 2023, the audiobook industry had been experiencing significant growth for several years, and there are indications that this growth trend would continue.
It is very clear that Audiobooks are the fastest-growing format in the publishing industry and will be the driving force behind the growth of book publishing over the next decade. Even during the pandemic year, when print books were leading the industry’s growth, audiobooks still grew by over 10%.
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KEY AUDIOBOOK STATS
1. The global audiobook market is worth over $5.3 billion and is projected to reach $35 billion in 2030. Audiobook market will grow by 26.4% every year over the next 7 years, while the book publishing market will grow by 1.9%.
2. Audiobook revenue surpassed ebook revenue in 2019, and the gap is still growing
3. Audiobook revenue accounted for around 3.8% of the book publishing revenue in 2022 and was projected to rise to 4.73% in 2023.
4. In 2027, the audiobook share in the global publishing market will reach over 10% for the first time.
5. By 2030, the projections show that audiobooks will account for over 21.3% of the global book publishing revenue.
6. A 2023 survey indicates 53% of adults say they’ve listened to an audiobook (up from 45% in 2022)
IN SUMMARY
Based on what we know, it’s reasonable to expect that the growth of the audiobook industry would continue based on the trends observed in recent years. Factors such as the increasing popularity of smartphones, smart speakers, and subscription-based streaming services, as well as the convenience and accessibility of audiobook formats, suggest that the demand for audiobooks will likely remain strong.
Our next email will explore the Growth Factors that have been supporting this continued trend. Contact us today to get your audiobook started.
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877.411.4446
Let us walk you through the process and bring your book to life.
Welcome to Phase 3 Studios, the leading destination for crafting high quality audiobooks for self-publishers. With over fifteen years of experience, our nationwide network of studios provides an inspiring and comfortable atmosphere for nurturing a creative performance.
At Phase 3 Studios, we take the reins of the entire process, seamlessly guiding your audiobook journey from discovering exceptional voice talent, recording, editing, mastering and ultimately, distribution. Our distribution capability includes platforms like Audible, Apple Books, Spotify, Google and many others.
We’ve had the honor of working with multiple New York Times best-selling authors, affirming the trust they place in Phase 3 Studios—a testament to the quality of our services. The opportunity is yours to get started—reach out to us and let’s start the realization of your audiobook dream today!
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How long does it take to create an audiobook?
When we produce an audiobook, we work as efficiently as possible to ensure both a smooth and timely production. For an average six-hour audiobook, production time is typically between 6 and 8 weeks from first day of record. This would include recording, editing, proofing, mastering, QC approvals and submission to distributor platforms. The timeline can also be affected by factors such as casting, talent availability, studio availability and any other unforeseen delays.
I don’t have the funds to do this at the moment. Is there another way or payment options?
As with all business ventures, an initial investment is required and producing an audiobook is no different. Standard payment terms are 50% at the start and the balance due prior to distribution. We do accept credit cards such as Visa and Mastercard, and other payment types including Venmo and PayPal.
Plus, the sooner you get started, the sooner you will be able to recoup your investment and start making money with your audiobook.
CONTACT US NOW TO GET STARTED.
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PRO SOUND RECORDING STUDIO
We provide top quality talent and gear to make your project the best it can be.
NATIONWIDE STUDIO NETWORK
We have studios located across the country for easy access to professional recording.
PUBLISHER APPROVED STUDIO
Top publishers trust us to deliver a quality experience for the author and quality book delivered on-time.
Endless Possibilities. Guaranteed Smoothness.
Three decade’s experience working with some of the biggest names in the entertainment industry, over hundreds of projects. Meticulous attention to detail and an artisan-like approach to our craft set Phase 3 Studios apart. We bring all of that to your audiobook project, no matter how large or small, executed with our signature “guaranteed smoothness”, for award-winning results on your project.
Whatever your audiobook needs may be, Phase 3 Studios has got you covered. We are committed to delivering excellence and exceeding your expectations. Don’t hesitate – give us a call today to embark on your audiobook journey with us!
