Audiobooks are a $1 Billion+ Industry and Showing Steady Growth
The Audio Publishers Association releases results from concurrent studies that reveal sales patterns and consumer behavior
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Adding to the positive outlook is a 3.2% decrease in returns of audiobooks from 14% last year to just 10.8% this year. Returns as a percentage of overall gross sales have never been this low. In fact, the average rate of returns a decade ago was nearly three times higher than it is today.
The rise of the digital download is no doubt the biggest contributing factor in the growth of sales and the declining rate of returns. The study shows that for audiobooks, the digital download format has eclipsed the CD format with slightly more than 60% of all audiobooks sold today being digital.
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