Audiobooks and fiction drove publishing growth in 2024, according to new figures released by the UK Publishers Association. Audiobook revenue was £268 million which is the highest ever and up 31% on 2023. Fiction is up 18%, bringing in revenue of over £1 billion for the first time.
Digital formats were a key driver of growth with increased revenue across all three sectors – academic, education and consumer.
UK Publishing’s overall income is up slightly by 1% to £7.2 billion. The new figures emphasise the importance of exports to UK Publishing bringing in £4.5 billion in revenue – 63% of the industry’s income. Exports were up 3% against the previous year.
Dan Conway, CEO of the Publishers Association, commented:
“It’s fantastic to see fiction, audiobooks and digital thrived in 2024. Clearly publishers have been giving booklovers what they want with engaging content in a range of formats. Fiction growth has been driven by fantasy and romance. The desire for escapism in these tumultuous times may be a factor in the recent success of these genres.
“While consumer publishing had a strong 2024, it’s more of a concerning picture for education and academic book publishing, particularly in the UK market. This reflects the funding challenges right across the education sector. However, it’s worth noting that while print is down in both education and academic sectors, digital is still growing.”