On Madison Avenue in New York City, September 29. Image – Getty: Alexandra Scott
By Porter Anderson, Editor-in-Chief | @Porter_Anderson
Digital Audio Sales: 15.6 Percent of Adult Book Sales
In its September 2024 StatShot report released this morning (November 26), the Association of American Publishers (AAP) cites total revenues across all categories up 2.4 percent over September 2023 at US$1.5 billion.Year-to-date revenues, the AAP reports, were up 7 percent at US$10.8 billion.
As Publishing Perspectives readers know, the AAP’s numbers reflect reported revenue for tracked categories including trade (consumer books); higher education course materials; and professional publishing.
The report’s authors tell us that while the overall industry’s numbers were up in September, trade publishing’s sales were down. Gross sales decreased by 2.7 percent and—despite a 19.8-percent decrease in returns—net sales remained essentially flat at that 0.9-percent decrease.
Formats showing increases were led again by digital audio, and were joined by hardbacks and books. Decreasing formats included paperbacks, special bindings, mass market, and physical audio.
Adult fiction net sales were up 9.0 percent compared to September 2023’s performance, while adult nonfiction in the same period dropped by 7.7 percent in net sales, showing fiction to have grown by 13.0 percent and nonfiction decreasing by 2.8 percent.
Digital audio sales represented 15.6% of adult book sales, hardbacks represented 30.9 percent, paperbacks represented 34.2 percent, and ebooks represented 14.9 percent.
Trade Revenues
Year-Over-Year Numbers
Trade revenues were considered flat in September, down 0.9 percent at $911.5 million.
In print formats:
- Hardback revenues were up 3.2 percent, coming in at $400.1 million
- Paperbacks were down 12.6 percent, with $263.2 million in revenue
- Mass market was down 22.1 percent to $9.1 million
- Special bindings were down 1.0 percent, with $27.2 million in revenue
In digital formats:
- Ebook revenues were up 4.0 percent for the month as compared to September 2023 for a total of $90.5 million
- The enthusiastically watched digital audio format was up 28.1 percent for September 2024, coming in at $89.7 million in revenue
- Physical audio was down 51.1 percent, coming in at $800,000
Year-to-Date Numbers
Year-to-date, the industry’s trade revenues were up 6.8 percent at $6.8 billion for the first nine months of the year.
In print formats:
- Hardback revenues were up 7.2 percent, coming in at $2.4 billion
- Paperbacks were up 3.5 percent, with $2.4 billion in revenue
- Mass market was up down 18.5 to $91.0 million
- Special bindings were up 4.7 percent, with $160.2 million in revenue
In digital formats:
- Ebook revenues were up 3.6 percent as compared to the first nine months of 2023 for a total of $777.9 million
- The digital audio format was up 26.9 percent, coming in at $796.9 million in revenue
- Physical audio was down 33.0 percent coming in at $6.6 million
Religious Press Performance
Year-Over-Year Numbers
Religious press revenues were up 1.8 percent, coming in at $79.1 million.
- Hardback revenues were down 1.3 percent to $50.2 million in revenue
- Paperback revenues were up 8.7 percent to $15.0 million
- Ebook revenues were down 4.2 percent, coming in at $3.9 million
- Digital audio revenues were up 9.4 percent at $3.9 million
Year-to-Date Numbers
On a year-to date basis, religious press revenues were up 18.4 percent, at $642.8 million
- Hardback revenues were up 24.9 percent at $389.9 million in revenue
- Paperback revenues were up 9.9 percent to $125.8 million
- Ebook revenues were up 1.8 percent, at $39.7 million
- Digital audio revenues were up 16.7 percent at $39.0 million
Education
During September 2024, revenues from higher education course materials were $371.0 million up—7.1 percent— as compared to September 2023 . Year-to-date higher education was $2.1 billion, up 5.3 percent compared to the first nine months of 2023.
Professional Books
Professional books, including business, medical, law, technical and scientific, were up 1.1 percent during the month, coming in at $38.9 million.
Year-to-date professional books revenues were $347.0 million, down 0.7 percent as compared to the first nine months of 2023.
About the AAP StatShot Reports
Quoting the StatShot copy on methodology, as usual: “AAP StatShot reports the monthly and yearly net revenue of publishing houses from US sales to bookstores, wholesalers, direct-to-consumer, online retailers, and other channels. StatShot draws revenue data from approximately 1,280 publishers, although participation may fluctuate slightly from report to report.
“StatShot reports are designed to give ongoing revenue snapshots across publishing sectors using the best data currently available. The reports reflect participants’ most recent reported revenue for current and previous periods, enabling readers to compare revenue on both a month-to-month and year-to-year basis within a given StatShot report.
“Monthly and yearly StatShot reports may not align completely across reporting periods, because: a) The pool of StatShot participants may fluctuate from report to report; and b) Like any business, it is common accounting practice for publishing houses to update and restate their previously reported revenue data. If, for example, a business learns that its revenues were greater in a given year than its reports first indicated, it will restate the revenues in subsequent reports to AAP, permitting AAP in turn to report information that is more accurate than previously reported.
More from Publishing Perspectives on industry statistics is here. More on the Association of American Publishers is here, more of our coverage of AAP StatShot reports is here, and more on the US market is here.