The North America Audiobooks Market would witness market growth of 25.4% CAGR during the forecast period (2022-2028).
Social media and technology in general are major aspects of civilization in 2021. With the recent growth of the app TikTok, publishers are striving to market using the hashtag booktok. However, they are just beginning to get traction, whereas other retail firms on the site, such as the beauty sector, have already had success from TikTok influencers.
With the influx of social media influencers, TikTok initiated the rise of backlist sales, pushing titles from 2014 back onto the New York Times best sellers list. Now, some publishers are looking for ways to promote frontlist titles on TikTok naturally, without disturbing how the #booktok community already functions.
After becoming accustomed to marketing on other social media platforms such as Facebook, Instagram, Reddit, and Twitter, publishers have found it difficult to adjust to a different platform with a new crowd. When writers and narrators have significant social media followings, they may organize Facebook Live, Instagram Live, and Reddit Ask Me Anything (AMA) events with one other and special guests, allowing customers to learn more about the audiobook's creators.
Caedmon Records was the first company dedicated to selling spoken work recordings to the public. It has been called the "seed" of the audiobook industry. Their first release was a collection of poetry by Dylan Thomas as read by the author. The National Library Service makes two versions of digital talking-book players access to its network of collaborating libraries for distribution to their patrons. Both variants, standard and advanced, are compliant with the digital talking book standards ANSI/NISO Z39.86 and DAISY 2.0.
The US market dominated the North America Audiobooks Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $5,918.3 million by 2028.The Canada market is poised to grow at a CAGR of 28.3% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 27.2% during (2022 - 2028).
Based on Preferred Device, the market is segmented into Smartphones, Laptops & Tablets, Personal Digital Assistants and Others. Based on Target Audience, the market is segmented into Adults and Kids. Based on Distribution Channel, the market is segmented into One-time Download and Subscription-Based. Based on Genre, the market is segmented into Fiction and Non-Fiction. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Audiobooks Market is Estimated to reach $19.7 Billion by 2028, at a CAGR of 26%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Apple, Inc., Amazon.com, Inc., Google LLC, Storytel AB (Massolit Media AB), Downpour (Blackstone Audio, Inc), Softonic International S.A., W.F. Howes Ltd. (RBmedia) (KKR & Co. Inc.), Scribd, Inc., Barnes & Noble, Inc. (Elliott Management Corporation), and Rakuten Kobo, Inc.
By Preferred Device
By Target Audience
By Distribution Channel
By Genre
By Country
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