Audiobooks Will Hit $19.4 Billion in 2027

What about the world of audiobooks? The demand for audiobooks has dramatically increased since the iPod came to light.

According to a recent report on Statista, US audiobook sales were $1.3 billion in 2020 and 138 million audiobooks were borrowed from schools and libraries all over the world between 2017 and 2021. The industry is so hot, some voice actors specialize exclusively in audiobooks.

With a projection of $19.39 billion in revenue from audiobooks, there is room for plenty of voice talent. After all, there are only so many celebrities that can read audiobooks!

5. Voice assistant growth will reach $3.42 billion in 2022

Artificial Intelligence is steadily making its mark in the voice world. Voice-based AI assistants, such as Apple’s Siri, Amazon’s Alexa, and others, are the norm for making contactless commands. As such, marketers are increasingly turning to these digital voice overs as a way to introduce their products or services in a more humanistic tone.

By 2026, the industry should reach $10 billion. While people may expect an AI voice to sound robotic, there is room for human voice talent in this sector. People don’t always want to interact with a synthetic voice. As SMART assistants advance, using human voices through voice talent will help make people feel at ease.

In other words, marketers should be R&D Directors Email Lists paying attention to the need for digital voice overs now, not later. It’s more than a trend—they’re an essential part of any business plan moving forward.

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6. Audio advertising is expected to increase 6.4% in 2022

In the United States, 90% of people listen to radio daily while over one-third are consuming podcasts. That’s a massive audience tuning into audio content, and that means plenty of opportunities for audio ads.

In fact, audio ads saw a massive uptick in 2021, with the trend set to continue through 2022. The United States saw a 25% increase to the tune of $16 billion through 2021, thanks in no small part to digital audio and podcasts.

As more people turn to podcasts and digital music platforms, the door for businesses to get their audio ad campaigns in front of listeners is wide open. Given that 81% of listeners take action based on audio ads during a podcast, it’s just one more opportunity to showcase your brand’s message.

7. Podcasts will have 424.2 million listeners in 2022

According to Insider Intelligence, the podcast industry will reach $94.88 billion by 2028.

Podcasting took a while to gain steam but has skyrocketed in popularity within the last few years. Now there are over 1.75 million active podcasts in over 100 languages.

This medium has continued to advance in content and quality, and there’s a need for audio advertising to match. In addition to being young, listeners are also educated and affluent. A podcast audience is 45% more likely to have more than $250,000 in income.

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