The Association of American Publishers reports that trade/consumer publishing revenue from adult and children’s sales declined by 1 percent in 2023 versus 2022, with the children’s/YA category driving that decline. Digital audio sales were up 16 percent and represented more than 13 percent of sales in the adult categories, while ebook sales comprised about 15 percent. Mass-market sales accounted for 2.4 percent of adult sales. Learn more.
Penguin Random House—the largest US publisher—reports a sales increase of 7 percent in 2023, driven by acquisitions and organic growth. PRH increased its stake in Sourcebooks last year from 45 percent to 53 percent in addition to acquiring publishers such as Hay House and Callisto. However, due to increased costs, PRH’s overall profits were down.
Jane Friedman has spent her entire career working in the publishing industry, with a focus on business reporting and author education. Established in 2015, her newsletter The Bottom Line provides nuanced market intelligence to thousands of authors and industry professionals; in 2023, she was named Publishing Commentator of the Year by Digital Book World.
Jane’s expertise regularly features in major media outlets such as The New York Times, The Atlantic, NPR, The Today Show, Wired, The Guardian, Fox News, and BBC. Her book, The Business of Being a Writer, Second Edition (The University of Chicago Press), is used as a classroom text by many writing and publishing degree programs. She reaches thousands through speaking engagements and workshops at diverse venues worldwide, including NYU’s Advanced Publishing Institute, Frankfurt Book Fair, and numerous MFA programs.
