Do you know the answers to these questions?
- Who reads the most books overall?
- Who reads the most ebooks?
- Who listens to audiobooks the most?
These three questions all have the same answer. The answer is:
College Graduates—especially those making more than $75,000 per year and living in an urban or suburban environment.
The Pew Research Center’s most recent survey found that adults with a bachelor’s or advanced degree are more likely to be book readers than those who have only attended some college, high school graduates, and those with less than a high school education. And adults ages 18 to 29 are more likely to read books than those 65 and older.
One interesting takeaway from this study is that well over one-third of college graduates consume books in digital and audiobook format. Those who read the most consume books in multiple formats: print, digital, and audio.
As an independent author or small publisher, this means that you should be making your books available for purchase in at least two, if not all three, of these formats. The more choices customers have, the more likely they will find your book in their preferred format, increasing your sales.
For many independent authors and small publishers, the price of audiobooks is too steep for their budget. Both ACX and Findaway Voices both offer more affordable audiobook production through royalty sharing with a narrator so that authors pay less upfront costs to produce an audiobook.
As artificial intelligence (AI) technology continues to improve, I believe that within a few years, production of audiobooks will be as affordable as production of print books is currently. I think that text to speech programs will evolve to sound just like a human reading, making audiobook production affordable for everyone.
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Photo courtesy of Joseph Redfield.