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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
United Kingdom Audiobooks Market Growth
The audiobooks market in United Kingdom is driven by its huge publishing industry and English-speaking population. According to the “Vision for Publishing 2023” report by the UK’s Publisher’s Association, the industry contributed EUR 11 billion to the country’s overall economy by exporting highest number of books globally. Furthermore, it generated a total revenue of EUR 7.1 billion, out of which digital publishing with e-books and audiobooks accounted for EUR 3.2 billion.
The market is also being driven by a change in people’s reading habits as audiobooks are being preferred over e-books and hard copies. A recent survey conducted by the National Literacy Trust in 2021 affirmed that over 2 in every 5 UK adults listened to audiobooks in their spare time while nearly 3 in 10 read them at least once every week. This high inclination towards audiobooks can be attributed to the flexibility of reading and multi-tasking provided by them, further enhancing United Kingdom audiobooks market value. Furthermore, audiobooks have not only made reading accessible but also more captivating for the growing Gen-Z and millennial population. Social media reviews on bestsellers, convenient use of smartphone devices, and efficient narrations by well-known celebrities have been a major factor in driving the adoption of audiobooks among young readers.
Additionally, the market has so far witnessed organic growth, yet both public as well as private sector are actively participating to support the audiobooks demand growth in United Kingdom. For instance, the government’s elimination of Value Added Tax (VAT) from audio books has made them cost-friendly, which has driven their sales. Similarly, the entry of music streaming platforms such as Spotify in the UK market has made audiobooks accessible to many subscribers. Additionally, the introduction of startups such as books.org has opened new opportunities for independent bookshops to feature their audiobooks with full profit margin on every sale. These efforts have positively impacted the market growth.
United Kingdom Audiobooks Market Report Snapshots
United Kingdom Audiobooks Market Size
United Kingdom Audiobooks Market Growth
United Kingdom Audiobooks Market Share
United Kingdom Audiobooks Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 282.83 million.
The United Kingdom audiobooks market is estimated to grow at a CAGR of 10.30% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach a value of USD 683.44 million by 2032.
The growing publishing industry in UK, evolving reading habits of young readers, and flexibility of accessing audiobooks are the major drivers of the market.
Key trends aiding market expansion include the entry of music streaming platforms like Spotify and innovative startups like books.org, increasing number of book readers, and integration of AI in preparing customised audiobooks in multiple languages.
The countries included in report are England, Wales, Northern Ireland, and Scotland.
Based on distribution channel, market segmentations are one-time and subscription-based downloads.
The major players in the market include Amazon.com Inc., Apple Inc., Barnes & Noble Booksellers, Inc., Google LLC, Blackstone Audio, Inc., Storytel AB, W. F. Howes Ltd., Penguin Random House Co., Storytec Ltd., and Bolinda Digital Pty Ltd., among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124