Videl: Without exception, every audiobook market in the world has been experiencing double digit percentage growth – even in major markets like the US, UK and Germany. This shows no sign of slowing down, due to the combination of early investment by publishers, together with the emergence of a dynamic mix of retail and library channels. There are, of course, challenges for publishers who want to start or grow their audiobook business, but the most important decision is commitment. Selling audio rights might provide some welcome short-term income for a publisher, but this should also act as a positive sign to start publishing in audio directly for the long-term. It’s important to integrate audio fully into a publisher’s editorial, production, distribution, and marketing workflows. The goal should be to aim for simultaneous publication for maximum market impact and reach. There are different distribution strategies to decide, windowing, front-list versus back-list, as well as efficient casting and recording processes. This requires careful choreography, combined with good analytics to be able to measure success. But the rewards can be great: reaching new and diverse audiences, opening up additional revenue streams, and serving the author across all formats.
John: Our contribution here with Bookwire is that we have been supporting audiobook publishers on their way in the audiobook business for years with great experience. We do this through the Bookwire OS platform we have developed for this purpose, but also with the experience of our experts. It is our passion to help publishers achieve the greatest reach and visibility for their catalog in the market through a combination of technology, service and know-how. For English-language titles, this is the world beyond the domestic market. The better the technical processes are, the more successful and faster the publisher will be if they have done everything right with the content.
Videl: First of all, it’s important to work with experienced narrators and audiobook producers as only a trained narrator will be able to make your title really ‘sing’. To help efficient casting, it’s important to have clear briefing notes with any special attention especially on accents, tone of voice and unusual names. Final manuscripts are essential for recording but a draft can often be enough for casting. Overall, its critical to cast and record without delay to hit simultaneous publication dates across all formats. Meticulous postproduction combined with proof-listening will ensure a high-quality standard that will stand the test of time in the marketplace.
John: We and our teams have always wanted to ensure that the audiobook production process is understood as a clear procedure that we can handle entirely through our platform. This means that we want to be able to quickly calculate how much an audiobook will cost, who the right narrator is and how long the production will take. It also depends on the finer details. An audiobook production is an art form. It is not simply the conversion of a text into audio. There are people, for example, who only listen to certain audiobooks because of a certain voice.
Videl: Compared to print and eBooks, audiobooks generally have a slightly younger and more male audience, and this tends to be more pronounced in audio channels that offer subscription listening plans. This is also where first-time listeners gravitate towards, having often developed a podcast listening habit. Platforms that have been in the market longer and use established models such as a la carte and monthly credit attract a more traditional audience that may also purchase print books. With such rapid audio market growth and an increase in sales channels and consumer offerings, publishers need to take advantage of reaching different audiences by pursuing a wide distribution strategy to maximize reach and sales. In many markets, we see year-on-year growth of all consumer models, but subscription models are growing the fastest.
John: My impression is that it depends on the genre. We also have platforms on which certain content simply works better. Music streaming providers, for example, are poppier here than elsewhere. There are also platforms that have a lot more female listeners because they specialize in the so-called romance genre. The important thing for me is that the market is big and so are the opportunities. We have to get used to the fact that some people only decide to buy a book when an audiobook edition is available. We want to help with that.
Videl: Spoken word audio is the oldest form of storytelling, and a skilled human narrator has the unique ability to deliver an unrivaled emotional punch that draws listeners into the heart of a story. There is magic in the space between the voice and microphone. AI tools are already used in audiobook production to help with Q&A, so the idea of AI in audiobooks isn’t totally new. The development of AI or synthetic narration has led to a rapid increase in quality, but at a lower cost. This will help close the gap between audiobook and eBook title availability (around 85% of eBooks still do not exist as an audiobook), especially in developing audiobook markets where production costs are still a growth barrier. Human narrators will remain the backbone, while AI narration will help audiobook markets to grow. Clear metadata and labeling for listeners are essential, and, in the end, consumers will decide.
John: In my view, it is important that we give publishers the opportunity to try out the AI tools in order to understand what is or will be possible. Either way, there is no substitute for a good storyteller.
Videl: Without any doubt, audiobooks will move even more into the mainstream, while discovery, recommendations, and listening will become more frictionless. We are now in the attention economy, and audiobooks uniquely straddle two worlds where we talk about “share of ear” and “share of reading”. The opportunity is clear: audiobooks and spoken word audio will break out beyond the world of books into broader spoken word audio storytelling, including originals, multi-cast productions, and new hybrid formats. The German market has a strong tradition of audio plays that are also commercially hugely successful. This could spread to other markets, as publishers internationalize their programs. In terms of business models, both a la carte and monthly credit will remain but become less dominant as numerous forms of limited and unlimited subscription will allow new audiences to build regular listening habits. The worlds of podcasts and audiobooks will come even closer together in platforms that offer both with smart, algorithmically driven recommendations. Children’s audio has huge global potential and will become a much larger part of the business. It has often been said that audiobooks could eventually overtake eBooks in popularity, and we are getting very close to that tipping point in mature markets like the US. That is important to recognize.
John: I find it interesting to attract people interested in audiobooks with other content, for example. E-books should simply contain information about the digital audio edition. The publisher’s marketing podcast should urgently play audio samples. Playlists on streaming platforms can ensure an audience flow. YouTube, TikTok, etc. are the places to find new audiences, for example. Some time ago, we used the “Listen & Read” survey to show how podcasts, books, and audiobooks can support each other in sales. The survey was conducted in partnership with the Frankfurt Book Fair. It is still freely available and well worth reading.
Videl: Publishers need smart, multi-feature solutions across production, distribution, marketing, and analytics to really avoid publishing into the dark. Bookwire’s industry-leading OS platform has been built from the ground up over more than a decade of meeting the needs of audio publishing clients from many international markets. From seamless audiobook production to our latest audio Smart Link marketing tool and a suite of analytics that are unique in the audiobook world, publishers can use these solutions to make smart decisions and drive their audiobook business forward.
About Videl and John
Videl Bar-Kar has over 20 years media industry experience in both corporate and start up environments. He has worked in publishing for over a decade, first as Director of the Ways With Words literary festival, then as the first Audio Publisher for Penguin Random House, where he led an award winning team across editorial, production and marketing to create the UK’s leading audiobook publisher. As Global Head of Audio for Bookwire, Videl leads the international expansion of the company’s rapidly growing audio business, from production through distribution of audiobooks and the development of flexible, end-to-end solutions for publishers across all markets.
John Ruhrmann is Co-CEO and Co-Founder of Bookwire.