The growth in audiobooks is well-documented and has rightly afforded this established format its moment in the limelight with the trade press, fairs and exhibitions now finally highlighting audiobooks alongside their print and ebook cousins. But the monetary figures and growth in consumers numbers are really only representative of a valuable but small proportion of the potential global market. The long established regions of the US, UK, Northern Europe and Scandinavia are only the green shoots of the genuine longer term possibilities. In my role conducting a growth strategy for Beat Technology I see a much wider – and often more exciting – international view way beyond North America and Europe.
Significant time and energy goes into researching potential new markets for our expansion internationally and our desire to provide publishers and reader-listeners with affordable, first-class and robust retail solutions for audiobooks. Different countries and language markets reveal a plethora of challenges and opportunities which require local understanding, sometimes tailored solutions and – always – patience. Upon approaching a new market there are fundamental questions to pose early and a need to understand – both in the mind of the publisher as well as that of the reader-listener.
At Beat Technology we are constantly researching and monitoring the audiobook space, both in mature and mid- maturity markets such as the Spanish speaking world. Moreover, it’s the emerging regions of Asia, Africa and MENA into which a lot of attention is directed. These nascent markets can often provide the most freedom to roam as they’re not burdened by some of the constraints of the west, and there is occasionally a very real opportunity to make literature available to parts of society that otherwise wouldn’t have access to books or, indeed, the urge to read and listen. Audiobooks, and access models such as subscription in its many guises, can be just that solution.
But the road to launching a service or developing a profitable audio catalogue isn’t a simple one. And the journey towards creating a lasting connection to new reader-listeners and, in some cases, establishing a new type of habit for consumers fresh to audiobooks, can be a long one.
As well as pre-assessing technical issues such device penetration, local payment gateway solutions and data connectivity outside the major cities, there are manifold considerations around content acquisition and creation – not least the age-old dilemma of cost of recordings, when in many cases there are very few retail outlets and unknown consumer demand.
At Sharjah’s Publishers Conference I will chair a panel entitled Audiobook Publishing in Emerging Markets where an international panel will paint a picture from their respective markets and attempt to unpick the challenges and opportunities local to them. Each speaker will represent a different part of the world, different business models, different modes of marketing and different cultural considerations. In common, each represented market is in relatively formative stages of its audiobook journey.
Representing Ghana and the wider African landscape will be Ama Dadson, CEO of Accra-based audiobook publisher and platform AkooBooks. From the Kerala region of India, Govind Deecee of DC Books will discuss opportunities and considerations for a nation of multiple languages and a vast population. Completing the panel will be Beatrice Yong-in Lin from Korea, a region with a long history of audiobook publishing, production and distribution. Collectively the panel represents a largely undiscussed and, in my opinion, underestimated carve of the audiobook market’s potential. The conversation promises to tackle topics not only relevant to the speakers’ markets but to a wider selection of emerging audiobook regions.
Among the many topics the panel are expected to cover will be the different laws and regulations internationally, the challenges of marketing a new format and the varying business models and partnership opportunities as well as the impact on literacy levels, publishers’ varying desires to invest in the format and affordability to the consumer. This panel session at Sharjah promises to be insightful, informative, aspirational, truly international and brimming with stories of growth potential for taking the audiobook format to legions of new book lovers.
Audiobook Publishing in Emerging Markets will be discussed at the Publishers Conference on 30 October at 12.30pm.
Nathan Hull is Chief Strategy Officer at Beat Technology, a company specialising in building tailor-made subscription and retail platforms for publishers.
