Top 5 Publishing Trends for 2023

1. Book sales continue to grow

People still love reading books. As the world grows more divided, the demand for stories, knowledge and connection through books keeps increasing. Overall book sales grew from $122 billion to $129 billion, according to WordsRated, an international research data and analytics group.

2. E-books are king

People still love reading books. As the world grows more divided, the demand for stories, knowledge and connection through books keeps increasing. Overall book sales grew from $122 billion to $129 billion, according to WordsRated, an international research data and analytics group.

3. Audio book sales keep skyrocketing

People love listening to books. Audio books reach consumers while they’re travelling, doing tasks around the house or just lying on the sofa. One author even told me that if a book is not available in audio format, he doesn’t buy it.

Based on Statista’s research, the global audio book market is growing at a compounded annual rate of 24%.

4. Self-publishing expands

The democratization of publishing continues. Just as artists done in the music, movie and art industries, more authors are taking control of their publishing ownership and revenue. 

Here’s a myth buster. Authors who published their own books made more money than authors who went through traditional publishers in 2021. This is according to one survey conducted by Authors Guild and reported in Publishers Weekly. 

5. Digital marketing for authors reigns

It used to be that authors relied on book tours, TV media, speaking events and email campaigns to market their books. Now, authors turn to social media, including LinkedIn, YouTube, Instagram and TikTok. Authors use this direct connection to reach audiences and promote their books, a trend that industry experts say will continue.

Bonus trend: Demand for diversity explodes

Audiences want more alternative voices, and publishers are scrambling for books to fill this need. Authors from diverse and inclusive backgrounds have a huge opportunity to fill this gap for years to come, say many publishers.