Publishers - Young readers save the book market
The publishing industry is pleased with increasing sales. However, publishers and booksellers are complaining about consumption slumps and high costs. The German Publishers and Booksellers Association is particularly hopeful about young readers and readers.
The industry turnover grew by 2.8% in 2023 compared to the previous year, as reported by the Publishers and Booksellers Association in Frankfurt. The industry generated a total turnover of 9.71 billion Euro. In 2022, it was 9.44 billion Euro. The sales growth continued in the first half of 2024.
Social media stimulate interest in books
"The book market is doing well overall in economically challenging times," said Karin Schmidt-Friderichs, Chairwoman of the Publishers and Booksellers Association. "While the older target group was considered the reliable customer base of the book market in the past, young readers and women are currently driving the book business." This is also due to social media: book recommendations, for example, via #BookTok, are very popular among young people.
However, not all young people have positive news. "While some young people read more, the number of those who cannot even access books because they cannot understand them is growing," said the Chairwoman. Politics and civil society must urgently find strategies for this.
Number of book buyers decreases
Not all publishers and booksellers benefit from the boom of so-called Young- and New-Adult titles, emphasized Peter Kraus from Cleff, Managing Director of the Publishers and Booksellers Association. "Small, independent publishers in particular are struggling economically with their programs outside the mainstream." The disappearance of literary broadcasts from public-service broadcasting is viewed with concern by the Publishers and Booksellers Association.
Fewer and fewer people are buying books. Around 25 million people bought books in 2023 - 2.8% fewer than in the previous year. Among 10- to 15-year-olds, the number of buyers, however, increased by 3.9%.
E-books are declining, audiobooks are booming
The business with e-books is reportedly "stable but rather low," according to the Publishers and Booksellers Association. Audiobook sales, on the other hand, are increasing significantly - compared to 2019 by 39.4%. Publishers are publishing fewer first editions: In 2022, 64,278 new publications were published, in 2023 only 60,230.
The German Publishers and Booksellers Association observed a positive trend in young readers' interest in literature. Despite the overall industry growth, smaller, independent publishers in Germany are facing economic challenges. The turnover of the book industry, as reported by the Publishers and Booksellers Association in Frankfurt am Main, Hesse, showed an increase of 2.8% in 2023 compared to 2022, reaching a total of 9.71 billion Euro. However, the number of book buyers decreased by 2.8% in 2023, with only 10- to 15-year-olds seeing an increase of 3.9%. Despite a stable but low market for e-books, audiobook sales have experienced a significant boost, increasing by 39.4% compared to 2019.
