Did you know? Digital audiobooks are the biggest growth area for the book publishing industry. According to the Association of American Publishers, in 2014, the category grew about 27 percent in terms of units and revenue over 2013.
Similarly, podcasting is enjoying more popularity than ever. In 2014, the podcast Serial marked a renaissance for audio storytelling, with an audience of 40 million; last year, Apple reported podcast subscriptions had reached 1 billion overall. By summer 2015, one of the most successful radio shows of all time, This American Life, left Chicago public radio station WBEZ and became an independent company affiliated with the station.
We bring this up because there’s been an upcropping of articles pointing to the trend and opportunity for authors. The New York Times just reported on a book deal that resulted from the fictional podcast Welcome to Night Vale. The creators of the show were drawn to podcasting because of the low barrier to entry and minimal cost.
Book deals offer at least one way for podcasts to bring in revenue, in addition to advertising and crowdfunding. But currently it’s somewhat difficult to monetize a podcast; iTunes, the biggest distributor, doesn’t allow producers to charge for episodes. Some successful podcasters offer a fee-based archive; their most recent podcasts are free, but for access to older episodes, you have to pay. (WTF with Marc Maron is one example.)
In a new study conducted by Edison Research and Triton Digital, you’ll gain some insight into who listens to podcasts: mainly the affluent and educated, ages eighteen to forty-four, split evenly between the genders. (Even if you don’t podcast yourself, perhaps it’s time to consider a podcast tour instead of a blog tour? See what these authors did.)
Here’s the real kicker from that study: Only half of the people surveyed were even aware of the term podcast. We have a hunch the audience and impact of digital audio is about to get a lot bigger.
Wondering what podcasts you should check out? Take a look at Kevin Kelly’s list of fifty fact-based podcasts.
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.
