A June day on San Jose’s Santana Row in Silicon Valley. Image – Getty: JHVE Photo
By Porter Anderson, Editor-in-Chief | @Porter_Anderson
Adult Fiction a Driver, Increasing 8.2 Percent
In its June 2024 StatShot report released this morning (September 19], the Association of American Publishers (AAP) cites total revenues across all book categories up 6.2 percent over June 2023, coming in at US$1.1 billion.
Year-to-date revenues, the AAP reports, were up 5.6 percent, at $6.3 billion for the first six months of the year.
As Publishing Perspectives readers know, the AAP’s numbers reflect reported revenue for tracked categories including trade (consumer books); religious presses, higher education course materials; and professional publishing.
Some discussion provided by the AAP indicates that a decrease of 26.8 percent in returns was a key factor in the trade’s net sales. “Year-to-date, the trade has experienced a 5.0-percent increase in net sales including a 19.7-percent increase in digital audio, which represents 11.7 percent of year-to-date trade net sales,” this month’s report authors write.
In trade, adult books saw their net sales increase 3.8 percent in June of this year over June 2023. Fiction was the driver, increasing 8.2 percent in net sales alongside a 1.5-percent decrease in nonfiction.
Adult books in the digital audiobook format increased by 9.3 percent in June and that contributed to a 20.4-percent increase year-t0-date. Ebooks in the adult category went up, too, increasing 8.5 percent, leading to a 3.3-percent increase year-to-date.
By contrast to the adult statistics, children’s and young-adult (YA) books were roughly flat, showing only a 0.5-percent decrease. The report’s authors, however, say that fiction for young readers increased by 0.3 percent, “with significant increases in hardbacks and special bindings and significant drops in digital audio, ebook, and paperback formats.”
“Year-to-date, the report says, fiction has decreased 2.0 percent in net sales, however, even as nonfiction children’s and YA books continue to decrease year-over-year by 3.6 percent in June and 6.2 percent year-to-date.
Trade Revenues
Year-Over-Year Numbers
Trade revenues were up 4.5 percent in June, at $677.0 million.
In print formats:
- Hardback revenues were 6.6 percent, coming in at $212.5 million
- Paperbacks were up just 0.3 percent, with $249.3 million in revenue
- Mass market was down 17.5 percent at$11.7 million
- Special bindings were up 32.3 percent, with $15.5 million in revenue
In digital formats:
- Ebook revenues were up 5.4 percent for the month as compared to June 2023 for a total of $84.8 million
- The closely monitored digital audio format was 6.2 percent for June, coming in at $79.7 million in revenue
- Physical audio was down 20.3 percent, coming in at $800,000.
Year-to-Date Numbers
Year-to-date, the industry’s trade revenues were 5.0 percent, at $4.3 billion for the first six months of the year.
In print formats:
- Hardback revenues were up 4.3 percent, coming in at $1.5 billion
- Paperbacks were up 3.9 percent, with $1.5 billion in revenue
- Mass market was down 15.6 percent to $62.1 million
- Special bindings were 5.0 percent, with $92.1 million in revenue
In digital formats:
- Ebook revenues were up 2.8 percent as compared to the first six months of 2023, for a total of $507.3 million.
- The year-to-date digital audio format was up 19.7 percent, coming in at $503.4 million in revenue
- Physical audio was down 21.4 percent, coming in at $4.5 million
Religious Press Performance
Year-Over-Year Numbers
Religious press revenues were up $26.8 percent in June, coming in at $59.1 million.
- Hardback revenues were up 40.6 percent to $34.4 million in revenue
- Paperback revenues were up 18.9 percent to $12.4 million
- Ebook revenues were up 4.0 percent coming in at $4.1 million
- Digital audio revenues were up 3.1 percent at $3.8 million
Year-to-Date Numbers
On a year-to date basis, religious press revenues were 15.6 percent in June, at $414.2 million
- Hardback revenues were up 20.4 percent at $248.0 million
- Paperback revenues were up 9.6 percent to $81.4 million
- Ebook revenues were up 3.2 percent at $27.8 million
- Digital audio revenues were up 12.8 percent at $25.9 million.
Education
During June, revenues from higher education course materials were down 2.9 percent for the month, as compared to June 2023, coming in at $154.8 million, while year-to-date higher education revenues were up 8.0 percent at $1.0 billion, compared to the first six months of 2023.
Professional Books
Professional books, including business, medical, law, technical and scientific content, were down 0.4 percent during the month, coming in at $43.3 million.
Year-to-date professional books revenues were $229.2 million, down 1.1 percent as compared to the first six months of 2023.
About the AAP StatShot Reports
Quoting the AAP’s commentary on methodology behind the StatShot reports, “AAP StatShot reports the monthly and yearly net revenue of publishing houses from US sales to bookstores, wholesalers, direct-to-consumer, online retailers, and other channels. StatShot draws revenue data from approximately 1,280 publishers, although participation may fluctuate slightly from report to report.
“StatShot reports are designed to give ongoing revenue snapshots across publishing sectors using the best data currently available. The reports reflect participants’ most recent reported revenue for current and previous periods, enabling readers to compare revenue on both a month-to-month and year-to-year basis within a given StatShot report.
Monthly and yearly StatShot reports may not align completely across reporting periods, because: (a) The pool of StatShot participants may fluctuate from report to report; and (b) like any business, it’s common accounting practice for publishing houses to update and restate their previously reported revenue data. If, for example, a business learns that its revenues were greater in a given year than its reports first indicated, it will restate the revenues in subsequent reports to AAP, permitting AAP in turn to report information that is more accurate than previously reported.”
More from Publishing Perspectives on industry statistics is here. More on the Association of American Publishers is here, more of our coverage of AAP StatShot reports is here, and more on the US market is here.
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