Statista.com is a German online research company that operates on a worldwide basis and is trusted by companies such as Google and Paypal. Check out this statistic.

“…there has been a seven year trend of double-digit revenue growth in audiobooks.”

Amy Watson, Statista Writer, Oct 10, 2019 Report

What does this mean for self-published authors?

Despite its fluctuations, the audiobook industry shows no sign of slowing its growth. Authors of fiction and non-fiction should consider investing in this market. While not all books lend themselves to being audiobooks, if your book can be adapted to this end, you may find it a lucrative investment.

Why are audiobooks a rising trend?

As with most things involving money, there are a good number of questions and possible answers. One of the most plausible is simply time.

With ever-increasing demands for productivity, it’s tough to find time to sit down and read. But a 45 minute commute can become “time well-spent” if we learn how to live a minimalist lifestyle or lose ourselves in the drama of the French Revolution. With audiobooks, the reader isn’t being asked to give up any extra time whereas print and ebooks ask for exactly that. In today’s world, saving time is a definite plus!

How can I get started?

Opportunities abound for indie/small press publishers. I’ve had a good experience with ACX (an Amazon subsidiary). Alternatives include Author’s Republic (which also partners with Amazon and many other retailers) and Spoken Realms. Please note that I have only used ACX for my own production and therefore am not endorsing any of the others but am providing them for information purposes.

The bottom line

If you’re an author looking to grow your reach, consider audiobook publishing. The data indicate that the audiobook industry will remain a viable part of the market for future years and provides more convenience to the reader.