Tuesday, the Association of American Publishers (AAP) released the StatShot Annual report covering the calendar year 2024, estimating that the U.S. publishing industry generated a robust $32.5 billion in aggregate publishing revenue for books and course materials across print and digital formats, an increase of 4.1% as compared to $31.3 billion in 2023.
“This year’s report shows encouraging levels of year-over-year growth across multiple categories during 2024 and paints a picture of an industry that is dynamic, fast-moving, and continuing to evolve,” commented Syreeta Swann, Chief Operating Officer, Association of American Publishers. “In reference to the five-year period covered by StatShot Annual, we saw the continuation of some long-term trends, including the dominance of print formats, which accounted for more than half of the overall market for each of the five years, and sustained growth for the Digital Audio format, which has seen a revenue increase of nearly 80 percent since 2020.”
During 2024, Trade (consumer books) increased by 4.4% to an estimated $21.2 billion.
- Higher Education Course Materials revenue increased by 1.8% to $4.3 billion.
- PreK-12 Instructional Materials increased 5.1% to $5.3 billion.
- Professional Books increased 2.5% to $1.4 billion.
- University Presses increased 3.1% to $350 million.
Print
In the industry overall, print formats (Hardback, Paperback, Mass Market, and Special Bindings) accounted for 50.5% of publishers’ revenue. During the year, revenue from the Hardback format climbed 3.6% to $7.9 billion, while Paperbacks increased 3.2% to $7.8 billion.
Within Trade, the Hardback and Paperback formats together accounted for nearly three-quarters of revenue (72.9%), maintaining their position as the most popular formats with $7.7 billion in revenue each. On a year-over-year basis within Trade, the Hardback format was up 3.6% and the Paperback format climbed 3.0%.
AAP StatShot Annual Report: Publishing Revenues Totaled $32.5 Billion for Calendar Year 2024 – AAP