The book publishing landscape continues to shift. While print sales are declining, the rise of digital formats point toward new opportunities.
In this comprehensive industry overview, we‘ll analyze the latest book market statistics and uncover what they mean for publishers, authors and readers.
Key Book Sales Statistics for 2024:
- Combined print and ebook revenue is projected to fall 3.2% to $14.7 billion in 2024 (AAP/Statista)
- Ebooks are expected to make up 18% of publisher revenue this year (AAP/Statista)
- Downloads of romance ebooks jumped 40% in 2022 (BookNet Canada)
- Audiobook sales increased 11% last year, now comprising 9% of publisher revenue (AAP)
- Independent bookstores saw a modest 0.2% sales bump in 2022 (ABA)
Let‘s explore these stats and more around print books, ebooks and audiobooks. We‘ll also highlight reader and publisher trends.
General Book Industry Statistics
The book market declined in 2022, but still drove over $16 billion in sales:
- Total book sales fell 2.8% to $16.4 billion last year (AAP)
- Bookstore sales (excluding Amazon) decreased 1.9% to $8.6 billion (ABA)
- 67% of Americans read at least one print book in 2022 (Statista)
Children‘s categories shouldered the steepest print sales drops. Adult nonfiction continues leading the market (AAP):
- Adult nonfiction – $5.5 billion
- Juvenile nonfiction – $1.7 billion
- Adults fiction – $5.4 billion
- Juvenile fiction – $2.4 billion
Relx Group maintains its ranking as the #1 book publisher worldwide with $11+ billion in annual revenue (Relx 2022 Annual Report). Penguin Random House (#2) and HarperCollins (#4) also exceed $3 billion in sales.
Print Book Statistics
Print books, though declining, still make up over 60% of publisher book sales (AAP):
- Print book revenue decreased 4% to $10.5 billion in 2022
- Unit sales fell 6.5% last year to over 700 million copies (NPD BookScan)
- Average print book prices rose 3% to $13.55 in 2022 (NPD Group)
Fiction titles dominated print best seller lists in 2022:
- It Ends With Us by Colleen Hoover sold nearly 3 million print copies (NPD BookScan)
- Other top fiction sellers included Verity by Hoover and Where the Crawdads Sing by Delia Owens
Recent data affirms the print format‘s staying power:
- 67% of Americans read at least one print book last year (Pew Research Center)
- 55% of U.S. readers say print is their preferred book format (Statista)
While ebooks are rising, many readers continue reaching for physical books.
Ebook Statistics
Ebooks comprised around 16% of publisher revenue in 2022, though grew minimally (AAP):
- Ebook sales increased 0.2% to $2.8 billion last year
- Ebook prices rose 5% in 2022 to an average of $9.10 (NPD Group)
- Ebook revenue is projected to reach $18 billion globally by 2025 (Statista)
Genres like romance saw a major ebook bump recently:
- 40% surge in romance ebook downloads in 2022 (BookNet Canada)
- Over 50% of romance readers now prefer the ebook format (BookNet Canada)
Tablets lead e-reading devices, though computer usage gaining:
- 62% consume ebooks on tablets; 61% on phones; 59% on computers (BookNet Canada)
- Computer ebook consumption rose 10% last year (BookNet Canada)
As more readers go digital, ebook adoption still has significant room to grow.
Audiobook Statistics
Audiobooks were a bright spot for publishers last year:
- Audiobook sales jumped 11% to $1.6 billion in 2022 (AAP)
- Now making up 9 to 10% of publisher book revenue (AAP)
- Over 82,000 audiobook titles published in 2022, up 10% (Audio Publishers Association)
Listeners also spent more time with audiobooks recently:
- Average audiobook listening time rose 14% last year (Libro.fm)
- 20% of Americans listen to audiobooks monthly or more (Forbes)
The convenience of mobile listening continues fueling audiobook growth.
Book Market Forecasts
Looking ahead, analysts expect an overall book publishing decline in 2024:
- Combined print and digital revenue projected down 3.2% (AAP/Statista)
- Print sales expected to decrease 4.7% this year (Forrester)
- Ebook sales likely to grow marginally by 0.5% (Forrester)
Used print book sales present an opportunity, already topping $700 million annually (IBISWorld). More readers are also embracing book subscriptions (NPD BookScan).
While 2023 may bring challenges, books remain vital for spreading ideas. Publishers can navigate market shifts by understanding reader behavior and advancing digital.
The Bottom Line
Book industry stats reveal a complex landscape. Print and digital formats play distinct roles for publishers and readers.
As analog and digital converge, those leveraging both will likely propel the market forward. 2023 will shed more light on emerging trends as books evolve for the digital age.
