UK audiobook revenue up by almost a third last year

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"UK Audiobook Revenue Increases by 31% in 2024"

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The popularity of audiobooks in the UK has surged significantly, with a reported 31% increase in revenue from 2023 to 2024, reaching a record £268 million, according to the Publishers Association (PA). This trend reflects a growing demand for audiobooks as they seamlessly integrate into the busy lifestyles of many individuals. Debbie Hicks, creative director at The Reading Agency charity, emphasized that audiobooks make reading more accessible, particularly for those with dyslexia or visual impairments, as well as for people who find it challenging to dedicate time to traditional reading. The ability to multitask while listening—whether during commutes, workouts, or household chores—has made audiobooks particularly appealing to younger audiences. Dan Conway, the PA's chief executive, noted that the rise in audiobook popularity parallels the growth of podcasts, indicating a broader trend toward audio content consumption. Publishers have responded by investing in high-quality productions, featuring renowned narrators and innovative recording techniques, which have contributed to the genre's success.

The PA's findings also highlighted a significant rise in fiction revenue, which increased by 18% and surpassed £1 billion for the first time, driven primarily by the popularity of fantasy and romance genres. While the revenue from consumer nonfiction saw a 4% decline, it still aligned closely with fiction at £1.1 billion each. Digital revenue, which includes audiobooks and ebooks, rose by 17% to £566 million, showcasing the increasing consumer preference for digital formats. Platforms like Spotify and Audible have reported substantial growth in listening hours and membership, indicating a strong crossover appeal from music and podcasts to audiobooks. The advancements in audiobook production have made the listening experience more immersive and engaging, attracting individuals who may not typically consider themselves readers. Despite the rapid growth of the audiobook market, print remains the dominant format, accounting for 78% of consumer revenue, though it has experienced a modest rise of 2%. Overall, the UK audiobook industry is thriving, providing diverse content that resonates with a wide audience and encourages a new generation to embrace the joys of reading.

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Whether it’s plugging in to Benedict Cumberbatch reading Austen while doing the washing up or listening to Meryl Streep narrate Nora Ephron’s Heartburn on the way to work, the UK is increasingly getting into audiobooks.

Audiobook revenue generated by UK publishers rose by 31% between 2023 and 2024, with income from audiobooks reaching a record £268m last year, according to the Publishers Association (PA), the body representing UK publishers.

“We’re seeing a real demand for audiobooks given the unique way they fit into our increasingly busy lives,” said Debbie Hicks, creative director at The Reading Agency charity. “Audiobooks make reading more accessible, whether that’s for people with dyslexia or visual impairments, or simply those who struggle to find time to sit down with a traditional book.”

Many listeners value “the ability to multitask” that comes with audiobooks, added Hicks. “You can listen to audiobooks while commuting, exercising or doing chores. For young adults especially, audiobooks are a natural fit with how they live and read.”

Audiobooks have “soared in popularity over the past 10 years”, said Dan Conway, chief executive at the PA. “The same is true of podcasts, so clearly audio content in general is hugely on the rise.”

“Publishers have invested more and more in producing high-quality content that grabs attention,” he added. “Some of the most successful audiobooks of the past few years have offered listeners the opportunity to hear world-renowned figures deliver their stories themselves. We have also seen full cast productions, high-profile casting and innovative recording techniques.”

Tina, who runs the book-themed Instagram account@tbretcand listened to more than 100 audiobooks last year, said that her life is “busier than ever”, so audiobooks allow her to “enjoy myself while doing the many life tasks that come with being a working mom of two”. Audiobook production has also “come a long way, and sometimes listening to a story brings an even better experience than reading a book with your eyes”, she said.

The PA also reported fiction revenue rising 18% between 2023 and 2024, surpassing £1bn for the first time. “Fiction growth has been driven by fantasy and romance,” said Conway. “The desire for escapism in these tumultuous times may be a factor in the recent success of these genres.”

While revenue for consumer nonfiction – which excludes academic and education books – saw a 4% decrease, this fall brought the category in line with fiction, with both bringing in £1.1bn each in 2024. Revenue from children’s books remained static at £413m.

Digital revenue – encompassing audiobooks and ebooks – rose 17% between 2023 and 2024 in the consumer market, to £566m.

“It’s fantastic to see fiction, audiobooks and digital thrived in 2024,” added Conway. “Clearly publishers have been giving book lovers what they want with engaging content in a range of formats.”

The digital revenue figure includes earnings through subscriptions such as Spotify’s Premium, which allows 15 hours of audiobook listening per month.

Spotify saw a 35% rise in listening hours between January 2024 and January 2025. “Whether it’s during a commute, at the gym, or taking a walk, audiobooks open up storytelling in those in-between moments”, said Duncan Bruce, director of audiobook partnerships and licensing.

“We’ve also removed the friction for people to try an audiobook for the first time, placing it in the centre of one of the world’s most used apps. We’ve seen strong crossover from music and podcasts, with fans discovering audiobooks through artists like Blink-182, Britney Spears and Bob Dylan, and podcasters including Louis Theroux and Steven Bartlett, proving audiobooks have the power to spark a whole new love of reading.”

Audiobooks are “helping to engage people who don’t usually consider themselves readers,” agreed The Reading Agency’s Hicks. They are “a gateway into the joy of reading for many who might otherwise feel excluded”.

Like Spotify, Audible has seen “substantial increases in membership and listening hours, including a 22% rise in our kids’ content offerings, as well as huge uptick in engagement and appetite across genres like romance and LitRPG [literary role-playing games]”, said its chief content officer Rachel Ghiazza.

“Advances in production have made the audiobook experience increasingly immersive and accessible,” she added. “Though substantial progress has been made, the audiobook sector remains an emerging and rapidly evolving space.”

The PA also reported print revenue experiencing a 2% rise in the consumer market across 2023 and 2024, to £2bn. “While digital has been growing faster it’s important to remember that print is still by far the preferred medium in the consumer market, accounting for 78% of revenue,” it said.

The export market for consumer, academic and education books saw a 3% increase to £4.5bn last year – this constituted 63% of the publishing industry’s overall revenue.

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Source: The Guardian