Trade book publishing overview
The global book publishing industry is in a good position for growth in the next few years. The increasing popularity of audiobooks, the growing demand for books in emerging markets, and the continued popularity of print books are all driving growth in the industry.
In the United States, book sales have been relatively flat in recent years. However, there have been some positive trends, such as the increasing popularity of audiobooks and the strong performance of fiction books. In 2022, over 788 million copies of print books were sold in the US. Fiction books are the most popular category of books sold in the US, accounting for over 40% of all sales. Audiobooks are the fastest-growing format of books, with sales increasing by over 20% in 2022.
- In 2022, the global book publishing revenue was $129 billion.
- The US is the biggest book market, accounting for a quarter of the global revenue.
- Book sales in the US increased by 21.5% over the two pandemic years.
- The best-selling book category is fiction.
- Print books still dominate the market, but audiobooks are the fastest-growing format.
- Online book sales account for over 71% of all book sales in the US.
How many books are published each year?
The number of books published each year has been increasing in recent years. This is due to several factors, including the growth of self-publishing and the increasing popularity of ebooks and audiobooks.
In 2021, over 1.5 million books were published worldwide. The United States is the largest publisher of books, followed by the United Kingdom and China. The most popular language for books is English, followed by Chinese and Spanish. On average, there are 1.5 books published per person each year.
- In 2022, more than 12.25 million ebooks were published on Kindle.
- As of 2020, a study found that 629 of the 1,000 best selling fiction titles had female authors.
- The number of books published in the US has increased by 28.7% over the last 10 years.
- The most popular book genre is fiction, followed by non-fiction.
- The average American reads 12 books per year.
Educational book publishing overview
The educational book publishing segment is a large and growing market, accounting for 31.87% of the publishing industry’s revenue in the United States in 2022. In the same year, educational books generated over $8.96 billion in sales revenue in the United States.
The global digital educational publishing market is also growing rapidly, projected to grow by 17% annually through 2027. However, print textbooks remain the dominant format in educational book publishing, with digital textbooks accounting for a minority of sales.
- The global educational publishing market is worth over $3,000 billion.
- The United States is the biggest market, followed by Europe.
- The digital textbook market is growing rapidly, and is expected to reach $29.5 billion by 2027.
- The biggest educational publishers in the US are Pearson Education, Scholastic, and McGraw Hill.
- The average American student spends $1,200 on textbooks per year.
Academic publishing overview
The academic publishing industry faces some challenges, including the increasing cost of academic journals and the rise of open-access publishing. However, the industry is also adapting to these changes and continuing to grow.
Over 5.14 million academic articles were published in 2022. The United States and China are the two largest producers of academic research, accounting for over 36% of all academic articles published worldwide. Elsevier is the largest academic publishing company, generating over $3.35 billion in revenue in 2022. Other major academic publishers include Springer Nature, Wiley, and Taylor & Francis.
- In 2022, over 5.14 million academic articles were published.
- China and the United States account for over 36% of all academic articles published.
- The top five academic publishers account for over 50% of the revenue in the industry.
- The number of academic journals published per year has grown 28.7% over the last 10 years.
- Over 56% of all academic papers published in 2020 had some form of open access.
- Women account for 31.99% of all academic authors globally.
Newspaper publishing overview
The newspaper publishing industry faces many challenges, including the decline in print readership and the rise of digital news. Newspaper circulation revenue in the United States has declined by over 50% since 2008, and the number of US newspaper companies has declined by 13.86% since 2012.
However, the newspaper publishing industry is also adapting to these changes. Many newspapers invest in online journalism and develop new revenue streams, such as digital subscriptions and events. Additionally, newspapers continue to play an important role in holding governments and businesses accountable, providing in-depth coverage of local and international news.
- The total estimated revenue for US newspaper companies was $22.04 billion in 2021.
- Advertising space made up 46.14% ($10.17 billion) of revenue in 2021.
- Subscriptions and sales made up 39.83% ($8.78 billion) of revenue in 2021.
- The number of US newspaper companies has declined by 13.86% since 2012.
- The average salary of a newspaper employee was $49,349 in 2020.
Magazine publishing overview
In 2021, the total estimated revenue for US magazine companies was $26.01 billion. Of this, subscriptions and sales made up 37.41% of revenue. This shows that print magazines are still a significant part of the industry despite declining popularity.
The average price for US magazines and newspapers was 43.43% higher in 2022 than in 2013. This suggests that publishers are trying to offset the decline in print readership by charging higher prices. However, this strategy may not be sustainable in the long term, as it could discourage some people from buying magazines altogether.
Despite the challenges, the magazine publishing industry is still a vibrant and important part of the media landscape. Many magazines invest in online journalism and develop new revenue streams, such as digital subscriptions and events. Additionally, magazines continue to play an important role in providing in-depth coverage of a wide range of topics, from fashion and beauty to politics and culture.
- Total estimated revenue for US magazine companies was $26.01 billion in 2021.
- Subscriptions and sales made up 37.41% of revenue in 2021.
- Advertising space made up 33.06% of revenue in 2021.
- The average price for US magazines and newspapers was 43.43% higher in 2022 than in 2013.
- The total number of US magazine companies was 4,519 in 2020. This was a decrease of 5.16% from 2019.