Audiobooks are now the fastest growing part of the book business

Audiobooks are one of the fastest-growing forms of publishing in media.

(Image credit: Ian Waldie/Getty Images)

published 29 July 2016

Audiobooks are the fastest-growing format in the book business today, The Wall Street Journal reports. Sales in the U.S. and Canada jumped 21 percent in 2015 from the previous year, according to the Audio Publishers Association. Revenue from audiobook downloads in the U.S. grew 38 percent last year from 2014, while revenue from e-books actually declined by 11 percent. "People listen to audiobooks while traveling, exercising, gardening, and relaxing at home," the Journal explains. "They switch devices from one activity to the next, listening on smartphones, tablets, computers, and MP3 players." And audiobook readers are spending a lot of time listening. "Many, many millions of people give us on average two hours a day," said Donald Katz, founder of audiobook market leader Audible.