Audio books are all the rage these days. The pandemic has brought to light e-books and audiobooks that have emerged as a contactless way to access new reading media. However, while the e-book craze seems to have waned somewhat, the demand for audiobooks continues to be stable and strong.
As the pandemic eases a bit and bookstores around the world resume operations, shoppers can browse and buy books as before. Major publishers like Simon & Schuster and Harpercollins have reported revenue growth for the last quarter. All of this has come at the expense of e-book sales which appear to have lost a lot of momentum in 2021.
In contrast, audiobooks have seen double-digit growth over the past few years and also don’t appear to be slowing down for the foreseeable future. In fact, market research analysts predict that “the global audiobook market is poised to grow at a compound annual growth rate of 24.4% from 2020 to 2027 to reach $ 14.99 billion. here 2027 “. Companies are also consolidating their activities to be able to gain maximum traction in the market. The recent acquisition of Audiobook.com by Storytel or the acquisition of Spotify by Findaway, the largest audiobook wholesaler, is proof enough of this.
All of this is an interesting development. Readers seem to prefer physical books and audiobooks but not e-books, at least not as far as e-book proponents might initially have predicted. On the contrary, what is good to see is that the three formats coexist and that neither causes the extinction of the other. However, the fact that printed books are still in demand surprised many, given that many of the factors that made audiobooks flourish can also be experienced through modern e-readers.
Perhaps it is this feeling of touching real paper, the smell of it, or the deep romanticism associated with real books that continues to keep him in demand. EBooks read through eReader devices offer many conveniences, including text-to-speech or read-aloud functionality, though none of it comes close to real voice actors telling a story in an audiobook. Maybe it’s that human touch that makes audiobooks click as compared to the text-to-speech feature which is much more mechanical in comparison.
What remains to be seen, however, is whether audiobooks will ever surpass the popularity of e-books.
With a keen interest in technology, I make a point of keeping up to date with the latest developments in the world of tech and gadgets. This includes smartphones or tablets, but even extends to AI and self-driving cars, the latter being my latest fad. Besides writing, I like to watch videos, read, listen to music or experiment with different recipes. Cinema is another aspect that interests me a lot and maybe I will make a film in the future.