High-tech gadgets, sharper displays, and the iPod phenomenon are poised to make audiobooks best sellers.
Until recently, audiobooks were occasional purchases. But fast forward to 2006, audiobooks have become a huge market. The only drawback to them is that they are much more expensive than the ordinary printed version.
However, with downloadable audiobooks, the good news is that they are much less expensive and are quickly becoming what is likely to become the book format of the 21st century. In fact, many experts are convinced that digital audiobooks, after many false starts, are finally ready to take off.
All other media have already gone digital and books are now catching up with technology. A revolution is just around the corner. Books are being scanned electronically by the thousands.
You may be wondering all of that, but what kind of portable device and software do you need to be able to play and listen to these “talking books” or “spoken words” as they are often called?
Well, again, these days everything is much easier to use. Write it to the influence of Apple Computer Inc. (AAPL). With its iPod, Apple has shown that millions of people are willing to carry digital devices with their favorite content. After music, why not novels and nonfiction? The iPod paved the way for people to become comfortable with digital media.
Today you can download digital audiobooks to your PC 24/7 and transfer them to your PDA and many MP3 players at home or in the office. And there is even speculation that Apple could release its own device, an iPod designed for books.
And many other big players in the book market are also looking for opportunities. Random House has announced plans to digitize 25,000 titles. Everything from novels to recipes from a cookbook. HarperCollins Publishers Inc., which has been in the audiobook market since 1952, when Dylan Thomas first recorded for his Caedmon label. -He says that he will build a digital warehouse of all his stock (another 25,000 titles or so) that he can then sell through the network.
Amazon.com is also moving aggressively into digital books. It sells digital versions of most of its titles, available for instant download. It already offers buyers a wide range of audio CDs.
So it seems the stage is set for an exciting new chapter in the audiobook saga. Industry specialists estimate that by 2020, 50% of books will be in electronic format. The puzzle pieces are on the table. We have the critical mass of content and we have attractive hardware. All we need now is a compelling business model that connects them all.