Contrary to popular belief, books are not dead. An average person still reads about 12 books a year. However, the preferred format has changed. For instance, more are using audiobooks.
Here’s why authors should consider embracing the same format for their work:
1. The Market for Audiobooks Is Getting Bigger
Audiobooks are fairly new, so their sales are not comparable to those of e-books and even printed books. However, the latest statistics reveal that more are using it.
According to Pew Research, one in five Americans “read” audiobooks. Meanwhile, many experts already call this segment the fastest growing in the publishing industry. In 2019 alone, it earned over $1 billion, an increase of more than 15 percent compared to the previous year.
2. It Can Be Used in Many Ways
The beauty of audiobooks is how they can be used. Many authors are finding new ways to present their stories to the world while still getting paid. And while some go the traditional route and sell audiobooks on iTunes or Audible, others prefer letting their fans decide how they want to get it. Getting your story narrated by an actor or narrator brings an extra layer of charm to your story.
Here are other ways people are using audiobooks:
- YouTube reading: Some authors prefer using YouTube to showcase their work and narration to gain exposure.
- Podcasting: Audiobooks can be part of a podcast you present to your community. This will allow them to enjoy your content even if they are not able to read it.
- Camtasia: Camtasia is a screen recording software that allows you to record and edit narrated content. The advantage of this method is that it puts the control in your hands. You can create multiple versions (lengths, accents, etc.) for different demographics or cultural groups.
- iTunes Producer: This option will allow you to release your audiobook on iTunes without any restrictions. There is a cost associated with this, but depending on the book, it could be definitely worth looking into.
3. The Quality of Audiobooks Is Increasing
The quality of audiobooks in the past was not up to par compared to what we have today, thanks to technological advancements. The audio narration of the past was oftentimes monotonous and lackluster compared to today’s standards.
The quality of audiobooks has increased due to many factors, one being advancements in sound engineering. Another reason is how popular they get, meaning more people invest in better recordings and narration.
Not only has the quality gotten better, but with platforms like ACX (Audiobook Creation Exchange), many production costs have been reduced, which opens up opportunities for new authors on a budget.
You can also outsource some aspects of your audiobook process to publishing companies already building their talent pool of voice experts.
4. People Are More Likely to Retain Information with Audiobooks
Recent studies show that audiobooks are an effective way to retain information. This is because the listener is free to listen how they want, allowing them to process the information differently. They are also free to go back and re-listen to any parts they might not have understood properly.
In turn, audiobooks become a more valuable tool for learning and development for your audience. This can then translate to higher revenues, better customer retention, and increased word of mouth.
The only thing that should be considered is ensuring that the message you are trying to convey in your audiobook is being translated properly into audio format. If not, it might just backfire on you.
5. Audiobooks Can Be Used as a Profit Center
Many authors use their books as a profit center. They can use their audiobooks to drive traffic back to the original book, which gives them great marketing opportunities for new customers.
This is what separates traditional books from audiobooks. There is only so much you can do with traditional print books after they are published. But with audio, things are different. You can create an entire business from selling your audiobooks to earn passive income, which is something no other written book can do.
In today’s world, one cannot ignore the power of audiobooks in marketing and building a brand. This form of content reaches many demographics and cultural groups who prefer listening to music or podcasts versus reading a book. With tools like ACX and YouTube, marketing an audiobook has become easier than ever before.
The audiobook market is growing and continues to grow as more readers and listeners worldwide start discovering it. Audiobooks are gaining more popularity due to their ease of use, more convenience than traditional books, and because they can be enjoyed by people of all ages.