Today we are going to talk about something that is not only important for well-established authors but it is also important for independent authors.
Whenever you are planning on publishing your book you might hear people making predictions and you might ask why predict trends anyway. You might also see publishing houses hiring a strategist for authors.
All this is to ride the bandwagon of publishing trends because a profitable business in publishing requires an understanding of the market and when the market is high and low.
WHY IS PREDICTION IMPORTANT?
Prediction is important because of the simple rule that is to predict and profit from publishing trends.
If you look at any history of the book market such as the history of self-publishing as well as traditional publishing you will find that the publishers who have followed trends have always succeeded in making good sales.
If you ever start typing in Google publishing trends you will start getting suggestions such as publishing trends 2022 and predictions for the book industry in 2022.
This is going to give you a very good estimation and indication about the importance of publishing trends because prediction is everything and sometimes it is even compared to a stock market.
If you can make the right prediction and if you are good at predicting book sales before publication then you are one step closer to success because the other step would be to have a good book in the first place.
So, if you are wondering how to predict and profit from publishing trends, we are going to tell you some of the relevant and most important publishing trends of 2022.
These trends will give you an idea about how to make up predictions and how to get ready to catch the trend.
PUBLISHING TRENDS OF 2022
Audiobooks have been one of the fastest-growing medium for book consumption this year and audiobook sales have seen a nearly 5x increase this year.
This is coupled with the fact that while there are big names such as Audible, there have even been smaller names that have targeted regional industries.
So, one might ask why is this the case and why are audiobooks seeing such high growth and there can be multiple factors but one of the factors is the rise in podcasting.
People are now more used to listening to podcasts and broadcasting platforms have been trying to include audiobooks into the platform and some of them have done it successfully.
They are for making it a very easy transition for the listeners to move from podcasts to audiobooks.
If you want to catch on with this trend, because this trend is also going to be in 2023, you must make sure to always release a version of your book as an audiobook on all the major audiobook platforms.
When we talk about influences you might think about people who are on social media and who are trying to influence others on various products but we have to understand one simple thing.
Commercially speaking a book is also a product and where there is a product there is going to be marketing and there are going to be influencers that are going to market this product.
That is exactly what happened with the newest format of video on nearly all the major platforms.
We have seen a steady rise in the marketing and promotion and branding of books by book influencers who use platforms to make very short videos where they review books.
One might think that they are not influential enough but when you see the numbers and the views you are totally going to understand how important this is going to be in the future.
That is exactly why whenever you are trying to catch on to a trend and publish your book you must never forget to utilise social media influences for book promotion.
PAPERBACK PRICE HIKE
While you might think that with the rise in popularity of a medium and with a good supply the price of the object can come down but something else has happened in the book market.
While the demand for books has increased and the supply has increased even more the price of paperback books has increased along with that.
If you tell the statement to an economist, they are simply going to get confused and will not be able to explain this phenomenon but it is simpler than you think.
While the demand for reading has increased the supply of ebooks has increased leaving paperback books to fall out of demand and also supply resulting in an increase in their price.
We are seeing the mass adoption of ebooks simply because of their convenience and also their nearly 0 costs of manufacturing.
When we are talking about the cost of manufacturing, we are talking about the material cost and there is literally no material cost because you can make infinite copies of an ebook for free.
People have increased in the world and so has the demand for books because more people are reading books now but paperbacks have seen a fall in popularity.
If you want to take advantage of this trend you must always release your books in every version possible including ebooks.
These were a few of the important trends that were very popular in 2022. We hope you have liked this blog.
If you are someone who is willing to get on with these publishing trends and if you want to self-publish your book in every kind of version with one of the most premium and highly regarded self-publishing book house in India then we are here to help you.
We are Orange Publishers and we welcome you to publish your book with us as we do everything in-house from the printing to the publishing as well as the creation of promotional material.
We welcome you to check out our website.