The Audio Publishers Association has released the results of a sales survey of its members, which shows growth in most distribution channels. According to APA estimates, total sales rose 5.1% in 2003, to $800 million. The survey results show a 14% increase in both retail and wholesale sales and a 7% increase for library sales in 2002— 2003. APA president Mary Beth Roche said the gains to the library and retail markets were somewhat offset by a sharp decline in direct-to-consumer sales as reported by the survey participants.
"We asked members to report their sales and we calculated in the average discounts for libraries and for other sales channels," said Roche. "We also factored in the percentage of members who didn't report and estimated the percentage of the audio industry who are not members of APA. Adding those numbers to the figure we came up with from respondents, we feel that $800 million is a good estimate for the industry." Previous industry estimates (which were significantly larger) have encompassed such sales as those from infomercials or "back-of-the-room" sales at seminars and speaking events. Roche noted that those outlets were not included in the new tabulation. "We know that it's a booming area of the business," she said, "but we don't have a way to measure it accurately to show that growth."
Issues of note in the survey include the rise of the CD format (revenue from CD sales increased from 35% of sales in 2002 to 45% in 2003) and the explosion of sales for digital downloads. Information on sales of downloadable audio titles was provided by APA member Audible.com. Audible's total download sales were $5.1 million in 2001; $10.9 million in 2002 (a 112% increase) and $18.5 million in 2003 (an additional 69% increase).
Another survey bright spot: returns as a percentage of sales decreased year over year by 31% from 2001 to 2003 and by 5.5% for 2002—2003.
