
Total book industry revenue in 2024 rose 4.1%, to $32.5 billion, and unit sales rose 3.4%, to 3.1 billion, according to the Association of American Publishers' StatShot Annual Report for 2024, prepared by Industry Insights, which includes estimates of sales beyond those reported monthly to the AAP and reported on in its monthly StatShots. The annual report also includes information about trends in retail channels and general trends over the past five years.
Syreeta Swann, the AAP's COO, commented: "This year's report shows encouraging levels of year-over-year growth across multiple categories during 2024 and paints a picture of an industry that is dynamic, fast-moving, and continuing to evolve. In reference to the five-year period covered by StatShot Annual, we saw the continuation of some long-term trends, including the dominance of print formats, which accounted for more than half of the overall market for each of the five years, and sustained growth for the digital audio format, which has seen a revenue increase of nearly 80% since 2020."
The results showed that in the past five years, sales in bricks-and-mortar bookstores and other physical locations had the largest gain (48%) compared to other sales channels such as online (up 25.4%); that print represented the majority of online sales last year (57.1%); and digital audio (up 78.1%) gained more than any other format in the last five years, while e-book revenue rose only 2%.
In 2024, online retail revenue rose 10.8%, to $12 billion; physical retail was up 3.3%, to $6.2 billion; and direct sales rose 1.3%, to $7.1 billion. Export sales climbed 5.8%, to $1.1 billion.
Of online sales, 57.1% of revenue was print, 34.5% was digital (e-books and digital audio), 6.5% was instructional material (schools and professional books), and 1.9% was physical audio and other formats.
As for formats, during 2024, digital audio jumped 22.5%, to $2.4 billion; hardcovers rose 3.6%, to $7.9 billion; paperback was up 3.2%, to $7.8 billion; and e-books rose 1.5%, to $2.2 billion.
Between 2020 and 2024, book industry revenue rose 22.1%. Trade, the single-largest category, rose 23%. Other categories with major gains were religious presses, up 52%; pre-K-12, up 53%; and university presses, up 25.8%. Categories with minimal gains were higher ed, up 0.7%; and professional books, up 1.7%.
In terms of format, digital audio was the biggest gainer between 2020 and 2024, with sales up 78.1%. Paperback revenue jumped 31.7%, and hardcovers were up 16.7%. E-book revenues rose only 2%. Two formats that have been receding in popularity for some time had considerable losses: physical audio revenue fell 67.7%, and mass market dropped 44.7%.
Between 2020 and 2024, the biggest gain in revenue by channel was physical retail, up 48% (from $4.2 billion in 2020 to $6.2 billion in 2024). The other large gainers were online retail (including physical and digital products), up 25.4% (from $9.5 billion in 2020 to $12 billion in 2024), and direct, up 31.8%. Intermediary channel revenue rose 4%, and exports fell 5.1%.
Over the past five years, trade revenue rose 23%. Fiction continued to gain faster than nonfiction: adult fiction revenue was up 50.8% while adult nonfiction was down 0.3%. Children's/YA fiction rose 20%, and children's/YA nonfiction was up 9.2%.
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