Audible UK revenue grows by 45%
Audible UK has reported a 45% growth in revenue in 2017 to £97 million (A$174.4m), up from £67.1 million (A$120.7m) in the previous year, reports the Bookseller.
According to accounts filed on the UK’s registrar of companies, Audible turned a gross profit of £59.9 million (A$107.8m), up from £38.9 million (A$69.9m) in 2016, and reported its first ever operating profit of almost £2 million (A$3.6m), up from an operating loss of almost £12 million (A$21.6m) in the previous year.
According to Nielsen, the audio market now represents 5% of the total trade book market in the UK, however the Bookseller also cites a recent report by Enders Analysis that acknowledges a ‘lack of reliable metrics for sizing the market’.
As previously reported, a recent Audio Publishers Association report found that estimated audiobook sales in 2017 were up 22.7% compared with the previous year.
Category: International news