Blogger: Janet Kobobel Grant
Recently Rachelle wrote a post on how Amazon continues to be a disruptor to the publishing industry. This time Amazon’s decision about what buy buttons are readily displayed based on which seller offers the lowest price is the cause of disruption. The default first buy button will almost always be to a third-party seller rather than the publisher. This has a chilling affect on the economic health of both publishing houses and authors. Seeing Amazon roiling the publishing world’s waters once again, made me think that this is a good time to take an overall look at what’s going well for publishing and what’s not faring so well.
Publishing Trend #1: Audio booms
One area of consistent and impressive growth for publishing is the sale of audio, particularly downloadable audio books. Publishers Weekly recently produced an article, which you can read here, that explored this area of growth.
How big is audio downloads? Here’s a quote from the Publishers Weekly article:
According to the most recent data from the Association of American Publishers’s StatShot program, sales of downloaded audio through the first three quarters of 2016 grew 29.6% compared to the same period in 2015, and in November 2016 sales of digital audiobooks were up 47.2% over the previous November. The Audio Publishers Association is awaiting the compiled results of its latest consumer and sales surveys, which are due to be released next month. But the 2015 APA findings showed audiobook sales were 20.7% higher than in the previous year, part of a string of year-to-year increases since 2011.
No other part of publishing begins to approach this growth rate. That means publishers are paying attention to audio in new ways. First, by creating audio editions of many more of their titles than they’ve ever attempted in the past.
Second, they’re looking at innovative methods to market their audiobooks. According to the article, Macmillan is looking to expand the number of audiophiles through creative marketing.
Efforts have included a promotion with the Avis rental-car company’s business customers, sponsoring foot races to appeal to those who listen while they run, and working with food companies to do sponsorships and promotions for people who listen while they’re cooking.
Publishing Trend #2: e-book sales continue down
Sales for e-books released from traditional publishers fell 14.7% in 2016 compared to 2015. Surveys have consistently shown that some readers are turning back to physical books. And teens generally prefer physical books over e-books. This resurgence in purchasing physical books is seen to have its genesis in digital fatigue. Readers are looking for breaks from staring at a screen.
Publishing Trend #3: Hardbacks on the rise
Hardcover book sales have increased 5% over 2015, and outsold e-books in 2016 for the first time since 2011. I personally think this interest in hardback books is a reflection of a new-found love for physical books. Also, publishers’ new agreements with Amazon allow publishers to set their own prices, resulting in increased e-book prices. That makes a hardback seem less like an extravagant a purchase than it did previously.
Publishing Trend #4: Mass market continues its downward trend
Unit sales for mass market paperbacks are down 46.5% from 2010. That makes this format the clear loser. The decline has been precipitous and consistent. My take on the reason for this sharp downward trend is that the mass market book is priced close to what one would pay for an e-book. Added to that, many mass market books are romances, one of the most popular e-book purchases. When faced with the choice of buying a small book that’s kind of awkward to hold open and a digital book at about the same price, the digital book wins.
Publishing Trend #5: All book categories’ sales are up
So far this year, all book categories are seeing a slight increase in print sales. That means adult fiction (1%), adult nonfiction (2%), juvenile fiction (4%), and juvenile nonfiction (3%) are all up.
These publishing trends showcase an industry that seems to have rebounded from many severe blows over the last ten years. Those blows including the advent of the Kindle; the Department of Justice’s legal action against publishing that resulted in severe financial penalties; the contentious negotiations with Amazon over pricing; the closing of Borders Bookstores and CBA’s largest chain, Family Christian; and the public having ever so many other ways to entertain itself.
But society and the publishing industry continue to experience an age of disruption. We know that, as I mentioned at the beginning of the article, publishing must decide how to respond to Amazon’s policy that makes it considerably harder for publishers to actually sell copies of their books on the site. The challenges continue…
How have you changed your book buying habits or your reading habits over the last year?
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My book buying habits have changed two-fold over the last two years or so.
One: The volume of books I purchase has increased dramatically. Reading is my most-effective de-stressor, so my high-stress job both funds and feeds my book addiction. Go figure!
Two: I now buy the majority of my books online, usually choosing paperbacks. Perhaps unfortunately, my preferred site is still Amazon. Thanks to your blog though, I have learned to be more careful to watch the vendor when I’m going for a “new” book. Want to make sure those royalties go where they belong, especially when it’s an author I’m acquainted with!
Angela, we love avid book readers, even though it’s sad that stress is a major factor in your book buying. I love to read to relax; it really works for me!
Thank you for carefully selecting from whom you are buying books on Amazon. I’m still trying to figure out how to discern what company actually produced the other items I buy on Amazon. I know I’ve ended up not always making the right choice, which is sad.
Books have always been important to me – stress just makes me read faster with fewer breaks in-between, which equals more books and less sleep 😉 I teasingly tell people that part of the reason I write is because a book lasts me longer than one night (months longer, in fact)!
I probably buy more e-books now, mostly because of limited storage space. I do love a hardback, especially if it’s a book I know I’ll want to keep forever. I love audiobooks, but only when I’m traveling. Do you think audio books will spike and start to decline over time like e-books did? But the younger generation seems to love listening to music with their earbuds, I know my girls do, so I can see why the audio version is rising. I haven’t developed that preference yet. 🙂
I think audio books will follow digital books’ route in that sales will continue to spike as readers discover the joys of listening to books. But, once those interested in that format have converted to it, sales will flatten. Then, depending on how publishers price audio books, they will continue to do well or fall in sales.
Interesting information.
* Question – do these trends hold true for both ABA and CBA, or is this analysis the product of an across-the-board data set, impossible to separate out?
The data includes ABA and CBA, but far fewer (percentage-wise) of CBA retail outlets report sales to those who collect the data; so the numbers are a better reflection of ABA than CBA sales.
My reading habits? I have to be more intentional with my time. If I know that a new book by a favourite author is coming out, then I plan ahead to free up the time to read. Also, I have to accept that I can’t read all the books that I want to read. Which is not fun!
Buying habits? Well, I can’t buy as many as I want, simply because money is tighter than it used to be. Also, the US/Canadian exchange rate is terrible right now, and books are more expensive than they were 2 or 3 years ago.
So, I prioritize and wait patiently.
“I can’t read all the books I want to read.” You nailed it, Jennifer. I keep a list of books I want to read, and I add more to the list than I scratch off.
* Our shelves are already filled with books, so I think carefully before buying. Do I want to own the book, or just read it? I check my list against the public library’s offerings. And when I’m at the library, books not on my list jump off the shelves and into my check-out stack. I could read forever and never be done. But then, when would I write?
Shirlee, I don’t know if you’re aware, but you can request your library buy certain book you’d like to read. Librarians are very responsive to readers’ requests.
Interesting trends, Janet. I have a question.
*E-book sales are down since the price has risen, but as the e-book sales have dropped, have the total sales stayed constant or increased? Are people still buying but are now buying print, or have the higher prices decreased the number of total (ebook+print) sales?
Carol, we’ve seen a slight rise in print book sales (lower, single-digit rise). Hardbacks especially are doing better.
I have not changed my book buying habits, but interestingly, in line with Item #1 – Audio Books – I find that I am listening to podcasts on a daily basis. I recognized that these are not books, but it is the audio format that intrigues me. I resisted listening to podcasts for years, but caved in at the insistence of my eldest son. Now I’m hooked. It will be interesting to watch this trend with Audio Books.
Interesting observations, Janet. My book buying trend over the past year has been somewhat stagnant. I’ve been trying to read through my expansive TBR pile. Couple that with the fact that I can listen to my books on my Kindle when I’m driving in the car (which I do a lot of with two teen boys), and that equates to me not buying many new books right now. However, I am one who will indulge in an audiobook if it’s by someone I really like. Again, because I can listen to it in the car.
*That said, I do buy paperback books of my favorite authors so I can read them and support these authors.
*Your observations about publishing trends is thought-provoking!
Having a backlog of about 4,000 books in my house (about 3,000 inherited, mostly hardback), and finding book prices in general way too high for the value received, I’m only buying used books these days, if I buy at all. I think it’s been over 6 months since I’ve bought a book.
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In good news, if I can find an hour to read tonight, my backlog will be reduced to 3,999. I’m that close on one.
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Are you like me, David, in that you do not get rid of books? I have books on my shelf that I got back in high school. I just cannot bring myself to get rid of a book. My wife, on the other hand, buys them, reads them, and then gives them away.
Damon: I used to keep all books, but now not so much. Each time I review a book on my blog I mention whether I’m going to keep it or sell it or donate it to a thrift store. More and more the answer will be one of the last two. and each garage sale we sell ten to twenty books. Slowly whittling the stock.
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However, I’m keeping my Hardy Boy and Tom Swift Jr. collections for my grandsons to read. And Homer Price.
In terms of book-buying, I don’t buy books any more for two reasons. The first is financial; the second is that I’ve changed.
* Current circumstances make it very hard to read a book for the first time; pain has a way of creating its own netherworld, and I find myself getting lost, and having to skip back pages at a time to maintain continuity. (For that reason neither audiobooks nor ebooks are very satisfying.)
* Re-reading is the bulk of what I do now; a well-loved book is like the voice of an old friend, and dropping back into a familiar world is infinitely comforting.
* One might decry my unwillingness to challenge myself, and that’s a valid point. But every day brings challenge sufficient unto itself, and I’m willing to give myself a pass here.
* I do mourn the diminished popularity of mass-market paperbacks. They are lighter in weight than hardcovers, and I am very tired.
“A well-loved book is like the voice of an old friend.” I agree, Andrew. I can’t put an old friend out to the curb!
Janet,
Thank you for this post about publishing trends. I love audio books and have been listening consistently to them through Overdrive (free app hooked to my library) for about two years. When I’m too tired to read, I can listen or when I work out or drive in my car, audio books are terrific and I’m glad to see the popularity increase. The challenge with audio books–like any of the forms–is to produce them with excellence. I’m working with a narrator on the audio for my Billy Graham biography which came out two years ago. Besides making an excellent audio, I’m working on some creative innovations to make the audio book standout from others. It’s something every author can think about and add to their own audio book creation.
Oh, interestingly. My kids prefer an audio book read by one very talented reader who can do lots of voices to a full cast audio. My nephews and niece refuse to listen to anything with full cast audio. It may be because both I and my sister read aloud to our kids for years and years and they like the continuity of a story told by one voice.
Terry, thanks for mentioning that you’re bringing added value to the audio version of your book. There are so many ways available to the author to explore creative audio expression.
My husband started listening to downloadable audio books about 3 or 4 years ago after audible did this monthly thing where you get one credit a month for a super low price. We ended up going with one credit every other month and this keeps him in audiobooks. He listens when he does busy work in his office, when he is doing work projects at the camp, and on walks. It is a great option for him and has revitalized his reading habit, which was being replaced by computer games. We also listen to podcasts about fascinating non-fiction stuff: “What you Missed In History Class”, “Stuff You Should Know” and what not in the car when we drive together. The boys and I listen to CD audio books in the car together. But besides driving, audio is a terrible option for me, as the house is never quiet enough for me to hear the book when I am busy (3 sons) and when they go to bed and it is late, I would rather read a physical book or ebook than audio as I want to sit at that time of day and not do dishes. But they work great for my husband and my mother (who only has her 93-year-old dad at home and he is less rowdy than my 3 boys and their pet chickens!) So I think it depends on your place in life and what you do during the day whether audio is a good fit.
Thank you for this informative post, Janet! I’m excited that the public is gradually rediscovering a love for physical books! I personally never lost that preference, but I’m delighted that others are returning to that traditional reading experience, which seems to foster a stronger love of books and reading. More buyers of physical books should also be a wonderful thing for the publishing industry. How exciting that younger generations are the ones leading this trend!
I have lots of e-books on my Kindle and old Sony Reader that I never read. And I dislike audio books, too. Most of the books I buy are for gifts or from authors I meet at conferences and events. I usually read half a dozen books a week, mostly from the library or our local free book swap. I could never afford to buy that many books and my home is already overflowing with full bookcases.
I am still an ebook lover. The convenience for one who reads as much as I do is just hard to beat, especially as my eyes age more and require books with fonts that can be enlarged.
However, there has been one great change in my reading habit. I discovered the black background (sometimes called night-reading mode) of my reader does not strain my eyes as much as lighter backgrounds, therefore allowing me to read for longer periods of time. Always a good thing.
Connie, I read published ebooks on my Kindle Fire. I also edit my own work may times as I’m writing by making a pdf of the latest version and emailing it to myself so I can download and use the Kindle reader app on my Fire. The screen brightness can be varied a lot, and at night I drop it to the minimum value. That makes it black on medium gray. Very easy on the eyes.
I’ve increased my reading this year. When possible, I purchase books at the LifeWay book store since so many bookstores are closing down. I also try to ensure that I am buying in a way that the publishers and authors receive their portion. I don’t buy many e-books because I spend enough time writing on the computer that I prefer my reading to be off screen.
I buy audio books almost exclusively, and have for years. I have a 2-book per month subscription. I listen while driving, cleaning house, and working out at the gym. The biggest advantage is reading in bed without turning on the lights and disturbing my husband. It’s so relaxing to have someone read to you. Thank goodness there is a sleep timer so the narrator doesn’t get too far ahead of me if I fall asleep. I am picky about narrators, so I always listen to a sample before I buy.
Thanks for your insights into when you listen to audio books. I didn’t know there’s a sleep timer. That made me wonder if I’d enjoy being read to when I go to bed. It sounds lovely and relaxing. Just like a childhood bedtime story.
Bedtime story – sure cure for insomnia 🙂
My sister has a hard time falling asleep, so she will get a book that she feels will be boring or especially silly and set the timer for 15 minutes and she is out like a light! She can’t pick a book that is too exciting though or she won’t want to fall asleep.
This article was extremely helpful and I learned a lot of wonderful things. Thank you for this.