An Opportunity For Revenue Growth in 2022:
The Association of Online Publishers and Deloitte have released statistics on the growth of digital revenue in the publishing industry. The overall sector grew by 18%, showing a steady increase and stable growth after the challenges that arose through the COVID-19 pandemic.
While display advertising and multi-platform revenue contributed the greatest for revenue generation in digital publishing, the category that stood out the most was digital audio revenue.
Digital audio, including audiobooks and podcasts, have been growing at a staggeringly fast pace, increasing by 500% from Q1 2021 to Q1 2022.
Digital audio touches consumers at multiple points in their day – in the morning commute, at the gym, getting meals prepared, and more – which creates a more wholesome, intimate experience with listeners.
This has allowed publishers to successfully monetize audio content and create a loyal following at the same time.
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