Italian market
The audiobook market in Italy
The audiobook market refers to the production, distribution, and enjoyment of books in audio format, which allow users to listen to narratives instead of reading texts.
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The audiobook market refers to the production, distribution, and enjoyment of books in audio format, which allow users to listen to narratives instead of reading texts.
Since 2016, with the arrival of Audible and Storytel, the digital audiobook market in Italy has experienced significant growth. Easy use through smartphones and smart speakers has made audiobooks accessible during various daily activities. The catalog has expanded, as have the number of listeners and listening hours. Publishing houses, agents and authors became interested in the market, and the adoption of the"all you can listen" subscription model contributed to the growth of the industry. This new model represented a shift away from traditional economic rules based on copies sold. Many exclusive contracts have expired, allowing multiple distributors to have access to titles. Technology continues to advance, with Apple launching a catalog of audiobooks"read" by artificial intelligence. However, there are still open questions about the quality and economic implications of this approach. In 2023, new players such as Spotify will enter the audiobook market, introducing further changes and models.[Questioniorecchio]
Major companies in the industry include[Yahoofinance]:
Amazon
Storytel AB
BookBeat
Kobo Books
Apple Books
The global audiobook market is projected to reach a value of $35.04 billion by 2030, with an annual growth rate(CAGR) of 26.3 percent from 2023 to 2030.[Researchandmarkets]
This study focuses on the audiobook market in Italy, providing an overview of its size, trends, and challenges. For information on complementary markets, such as the e-book sector, please refer to the specific studies available in the Businesscoot catalog.
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