How The Audiobook And Podcast Overlap Can Morph The Audio Industry

NEW YORK, NEW YORK - OCTOBER 03: (L-R) Yomi Adegoke, Min Jin Lee, and Jennette McCurdy be The Future of Audiobooks Event pinch Spotify 2023 connected October 03, 2023 successful New York City. (Photo by Noam Galai/Getty Images for Spotify )

Getty Images for Spotify

According to a survey conducted by Edison Research and Triton Digital, half of each Americans person listened to a podcast and an audiobook. Even much intuitive is simply a study from the Audio Publisher’s Association that location is simply a crossover assemblage betwixt podcasts and audiobooks. In fact, 55 percent of audiobook listeners person listened to podcasts.

In publishing, audiobooks are the fastest-selling assemblage of the industry. In audio, the maturation successful podcasting counterpoints pinch the slow diminution of terrestrial radio.

What re-ignited the podcast/audiobook relationship yet again was a caller announcement by Noiser, 1 of the UK’s starring independent podcast producers, that it has expanded into serialized literate adaptations, introducing immoderate of the world’s astir enduring stories to millions of listeners done performances by immoderate of Britain’s astir celebrated actors.

Noiser is increasing its postulation of classics includes Sherlock Holmes Short Stories narrated by Hugh Bonneville, Pride and Prejudice narrated by Dame Julie Andrews, and Charles Dickens’ Ghost Stories narrated by Sir David Suchet will beryllium portion of these serialized literate adaptations. Released episodically, the productions bring classical lit into the listening habits of modern audiences, making timeless stories consciousness much accessible than ever.

Here’s the astir intriguing part. Noiser presents each communicative arsenic a serialized listening acquisition successful the podcast apps group already usage each day. Noiser will make these adaptations free arsenic audiobooks crossed each awesome podcast platforms.

In a property merchandise astir the announcement, Pascal Hughes, CEO of Noiser, said: “Over the past year, Noiser has evolved from a history podcast shaper into a destination for premium audio storytelling. If we’re helping personification bask Jane Austen aliases Sherlock Holmes for the very first clip done audio, past we’re doing precisely what we group retired to achieve.”

Are audiobooks and podcasts nonstop competitors?

Here are 2 group pinch other viewpoints connected audiobooks and podcasts.

Anna Caffee puts successful her earbuds arsenic soon arsenic her butt hits the spot connected the train. Every morning, she travels from White Plains, NY, to Manhattan, wherever she useful arsenic the Security Manager for 1 of the galore skyscrapers successful the city. She worked done the COVID lockdown erstwhile the trains were quiet and is still moving now arsenic they are filled up again.

For her 50-minute ride, Anna listens to podcasts each greeting and each evening. In the morning, it’s The Daily or Today Explained, and past I Shaved My Vag For This and Conspiracy She Wrote. On the measurement home, it’s Marketplace pinch Kai Ryssdal and past a true-crime podcast for illustration The Murder Sheet.

For each of her devotion to the listening experience, Anna has ne'er listened to an audiobook.

“I conscionable consciousness for illustration it’s a large committedness of time,” admits Anna. “Some of these audiobooks are 12 aliases much hours long.”

In Plano, Texas, John Rainey listens to an audiobook some ways connected his commute successful his Prius arsenic he drives to and from Fort Worth, wherever he useful arsenic a package engineer.

“I’ve not gotten into podcasts yet,” admits John. “I’ve been listening to audiobooks from the CD days. For me, I bask non-fiction and learning during my commute time.”

Podcasts and audiobooks person respective attributes successful common. First, they are an audio medium, moreover podcasting has ventured successfully into video. It’s important to statement that, according to Edison Research, astir half of each video podcast consumers perceive alternatively of watch. Second, audiobooks and podcasts are presently some connected a basking streak pinch attracting ears and dollars. Some person based on that podcasts and audiobooks are nonstop competitors because they pull listeners who person constricted “ear” time. Market numbers don’t show that competition. Instead, listening to 1 audio mean seems to spur activation successful the different audio medium. Numerous studies show that Anna from White Plains will find her measurement to audiobooks, and John from Fort Worth will statesman to cheque retired podcasts.

Amazon versus Spotify

While location are galore players successful the audiobook market, 2 are dominant, and these aforesaid 2 besides person an outsized beingness successful podcasting. That’s not by happenstance. Corporate entities person understood the connective insubstantial betwixt audiobooks and podcasts for years. They were conscionable waiting for the exertion to fuse them together.

According to WordsRated, Audible commands astir 63.4% of the U.S. audiobook publishing market.

In summertime 2020, Audible introduced a new, cheaper subscription plan, Audible Plus, to link users to its increasing postulation of originals. The $7.95 per period rank – “The Plus plan” - now offers complete 11,000 pieces of contented but doesn't see credits to download audiobooks, arsenic connected the $14.95 per period Audible Premium Plus plan.

With the summation of free, third-party podcasts, Audible tin now entice much users to download their app for free podcast contented and past upsell them to the Plus Plan aliases the monthly audiobook subscription plan.

“Audible says much shows and podcasts will beryllium added successful the weeks and months ahead. With these cautiously calibrated chess moves, it appears that Audible is turning into much of a podcast app,” says trading advisor Maggie Hammerstein.

Spotify whitethorn person been precocious to the audiobooks party, but it is quickly catching up. According to Music Ally, Spotify has captured an estimated 25% of the U.S. audiobook market, quickly scaling up from astir an 11% stock soon aft motorboat to situation manufacture leader Amazon-owned Audible.

Spotify scaled quickly by buying Findaway, a world leader successful integer audiobook distribution.

“It’s Spotify’s ambition to beryllium the destination for each things audio some for listeners and creators. The acquisition of Findaway will accelerate Spotify’s beingness successful the audiobook abstraction and will thief america much quickly meet that ambition,” said Gustav Söderström, Spotify’s Chief Research & Development Officer astatine the clip of the waste successful 2021. “We’re excited to harvester Findaway’s team, best-in-class exertion platform, and robust audiobook catalog pinch Spotify’s expertise to revolutionize the audiobook abstraction arsenic we did pinch euphony and podcasts.”

Findaway useful crossed the full audiobook ecosystem pinch a level and offerings that service authors, publishers, and consumers of this quickly increasing industry, which is expected to turn from $3.3 cardinal to $15 cardinal by 2027.

“For Spotify, this introduction into the audiobook marketplace makes cleanable consciousness and strengthens their increasing audio ecosystem. The institution has investments successful streaming music, podcasts, and now audiobooks,” says Maggie Hammerstein.

“What galore media companies person learned from Apple is that customers consciousness comfortable and unafraid successful a media ecosystem wherever security, stability, extent of content, value of content, and aggregate transportation systems are successful place,” adds Maggie.

The Podcast promotion cycle

There is simply a unsocial symmetry betwixt podcasts and audiobooks related to trading each media format. For example, authors and podcasters person a long-running symbiotic relationship. Podcasters request authors erstwhile circumstantial expertise connected a taxable is needed. The writer is the perfect personification to fresh the bill. After all, authors are credentialed because of their published works, and they tin supply heft to the chat brewing successful immoderate podcast.

For podcasts, authors supply legitimacy to immoderate topic, and their insights – based connected the contented mined from their book investigation – tin make for an enlightening and lively discussion.

"Of course, galore authors want a podcast question and reply to lead to accrued print, digital, aliases audio book sales," says trading advisor Maggie Hammerstein. "But they besides want to create a marque and a media presence. Podcasts are an perfect measurement to execute some goals."

Surveys of podcast listeners person recovered that they thin to publication much than the wide organization and perceive to audiobooks astatine a overmuch higher rate.

The return connected finance for podcasters is that authors pull ears to their podcast because celebrated authors person loyal followings. Book podcasts people higher download rates erstwhile salient authors are interviewed connected the show. Even a podcast chat of a best-selling book seems to make much downloads.

One area wherever podcasts and audiobooks converge is the sadistic title successful some arenas. There are 156,000 progressive play episodes pinch tens of thousands of monthly, bi-monthly, aliases seasonal podcasts.

In the white-hot bubble of the audiobook market, awesome publishers specified Audible, Hachette Audio, HarperCollins, Macmillan, Penguin Random House, and Simon & Schuster person invested successful opening much studios and narrators to velocity up production. In 2018, 44,685 caller audiobook titles were issued. In 2019, that number jumped to 60,303 – an 18 percent jump successful 1 year.

According to Publishers Weekly, past year, U.S. audiobook income reached $2.43 billion, which is 9 percent summation complete the erstwhile year’s $2.22 billion. In fact, by 2020, audiobook income had eclipsed income of ebooks by complete $250 million. Publishers Weekly besides notes that location were 0ver 750,000 progressive audio titles, marking a 43% jump from 2024. Top genres included wide fabrication led the marketplace astatine 27% of revenue, followed by subject fiction/fantasy, romance, and mysteries/thrillers/suspense. The fastest-growing genres were Humor, wide fiction, and children’s/YA titles saw the quickest growth.

Last year, an estimated 157 cardinal Americans (58% of adults) listened to an audiobook complete the past year.

Like podcasts pinch its personage podcasters, audiobooks do person their “celebrity” narrators. The champion audiobook narrators see standout performers for illustration Ray Porter, Julia Whelan, and Michael Kramer. These apical talents are celebrated for transforming written stories into unforgettable listening experiences done chopped voices, heavy affectional range, and pacing.

Ray Porter is celebrated for subject fabrication for illustration Project Hail Mary and the Bobiverse series. Listeners connected YouTube item really he brings distinct, engaging personalities to life. Julia Whelan is besides an writer known for Educated by Tara Westover, praised for earthy affectional authenticity. Jim Dale and Stephen Fry are legendary for their distinct, beloved approaches to the Harry Potter series.

In an article successful Radio Today, Melissa Thom, Founder and Principal Coach astatine BRAVA (Bristol Academy of Voice Acting), wrote, “One of the astir persistent misconceptions is that audiobook narration is simply reference intelligibly for extended periods. But it’s a precision storytelling discipline. audiobooks request immersion. A listener whitethorn walk ten, 15 aliases 20 hours pinch your sound complete the life of a azygous title and the acquisition must consciousness seamless. That requires affectional restraint, tonal consistency crossed signaling days, heavy knowing of communicative voice, and subtle capacity shifts sustained complete full chapters.”

Podcasts that are kinda for illustration audiobooks

The quality betwixt a podcast and an audiobook is really the contented is broadcast, not the contented itself. In fact, serial lit – wherever a much extended activity was published successful a bid of smaller, sequential installments --- had been a celebrated publishing method from the Victorian Era successful England to the 20th century. It was not uncommon for a caller for illustration The Pickwick Papers by Charles Dickens, published successful 1836, to statesman life successful installments successful monthly periodicals.

Even Sherlock Holmes fabrication was published successful installments successful The Strand Magazine astir the move of the 20th century.

Are podcasts simply the literate balanced of audiobooks divided into discrete episodes?

Let’s return 1 of the astir celebrated podcasts of each clip – Serial by Sarah Koenig. Season 1 had 12 episodes and runs astir 7 hours. If each 12 episodes were assembled together, you’d fundamentally person an audiobook.

Would Serial not beryllium arsenic compelling told successful an audiobook format pinch 12 chapters? Instead of a podcast format pinch 12 episodes that were released weekly.

“I’m really amazed that much successful podcasters haven’t bundled a play of their episodes and sold them arsenic an audiobook,” says trading advisor Maggie Hammerstein.

Hammerstein continues: “I foresee best-selling audiobooks of an full play of Hidden Brain by Shankar Vendantam. How Audible’s Business Wars packaging episodes connected the battles betwixt Coke and Pepsi, FedEx and UPS, Chik-Fil-A and KFC, and Hasbro vs. Mattel. Or Science Vs pinch a 'best of’ episodes audiobook?”

It’s not astonishing astatine each that podcasts and audiobooks are enjoying a simultaneous detonation successful popularity. The 2 audio formats are, successful galore ways, twins of each other.

“If anyone looked backmost astatine media history successful the 20th century,” originates Maggie Hammerstein, “they’d find that audio formats person ever enthralled Americans.”

“Before television, power dramas for illustration The Shadow, Superman, and CBS Radio Mystery Theater were wildly popular,” adds Hammerstein. “When the exertion of TV killed overmuch of radio’s content, power still thrived by focusing connected music, talk radio, and sports talk. Now, exertion for illustration the smartphone and earbuds person paved the measurement for the surging tide of podcast and audiobook popularity.”

How podcasts and audiobooks intersect successful the early arsenic some proceed their maturation spurt remains to beryllium seen. Predictions are vulnerable and dependably unreliable.

Did Video Kill The Audio Star?

The advent and fame of video podcasts person made the comparison betwixt audio podcasts and audiobooks a much analyzable and precarious intelligence exercise. Almost video podcasts are either question and reply shows aliases big speech shows (where the big speaks for the full episode).

Are video podcasts past much connected to documentaries connected TV, streaming, and film?

“In 1 sense, documentaries are fundamentally video communicative podcasts,” says indie filmmaker Devin Carruthers.

“What’s prompting this confluence of podcasting and audiobooks is economics,” adds Carruthers. “You person 2 ascendant players – Amazon and Spotify – successful podcasting, audio, and audiobooks duking it retired complete marketplace dominance.”

“May the astir resourceful institution win,” he adds.

Here’s what Good E-Reader said astir the convergence of audiobooks and podcasts. “Literary useful and non-fiction are progressively surgery into episodic installments delivered via modular RSS podcast feeds alternatively than arsenic a azygous monolithic file. Publishers are experimenting pinch releasing audiobooks successful sequential, ad-supported chunks akin to play podcast drops. Networks administer classical lit adaptations straight into Spotify and Apple Podcasts apps to little the committedness obstruction of a full-length book.”

There is nary uncertainty that Artificial Intelligence (AI) will beryllium a crippled changer successful podcasting and audiobooks. Already, AI narrators are seeping into audiobook narration pinch immoderate grounds that audiences are not wholly opposed to specified an innovation.

In podcasting, astir 25% of all newly created podcast feeds are estimated to beryllium generated aliases narrated by artificial intelligence. Tracking information from platforms for illustration the Podcast Index shows that AI-generated contented has quickly surged to relationship for complete a 3rd of each brand-new podcast output.

According to Twin Flames Studios, location are complete 40,000 AI-narrated titles disposable connected awesome platforms for illustration Audible, a number that has surged quickly from astir 1,600 titles. Despite this growth, AI-narrated contented still accounts for a mini fraction—roughly 5% aliases less—of the full progressive audiobook market.

What we are seeing is simply a convergence of podcasts and audiobooks. As reported here, audiobook publishers are now utilizing podcast transportation systems and formatting these “books” pinch an episodic structure.

As of yet, we person not seen podcasters re-format their episodes into an audiobook, though specified a endeavor is some doable and profitable arsenic different monetization action successful a podcasting manufacture wherever securing capable income to podcast full-time is simply a dream that escapes complete 90% of each podcasters.

History podcasts specified arsenic History Extra, Tracing The Path, Byte-Sized Biographies, Short History, and A History Of Rock Music In 5oo Songs could make perfect audiobooks pinch 1 play packaged arsenic an audiobook.