As an entrepreneur dedicated to helping small businesses grow, I‘m always exploring new technologies and media platforms. One invaluable resource I‘ve come to depend on – both for personal development and my client work – is Amazon‘s Audible audiobook service. But what exactly is Audible and how does it benefit entrepreneurs like you and me?
Audiobook Industry Growth and Audible’s Market Lead
First, some context! Audiobooks represent one of the fastest-growing media formats today. According to Deloitte’s 2022 Digital Media Trends survey, 41% of US consumers listened to an audiobook in the past year – up from just 19% in 2018.
Driving this growth is Audible, the leading distributor with billions in audiobook sales annually. Audible’s parent company Amazon dominates the audiobook market with a 41.4% retail share as of 2021, more than double the share of Apple (18.8%) or Google (7.2%).
So in this booming industry, Audible has emerged as the #1 platform connecting authors and publishers with millions of loyal listeners – including entrepreneurs like us!
How Audible Benefits Authors, Publishers, and Entrepreneurs
Audible has not just capitalized on demand for audiobooks – they’ve helped cultivate it! Audible allows authors to reach new audiences they’d never tap through print books alone.
In 2021 alone, over 24,000 indie authors used Audible to produce their first audiobooks through ACX – Audible’s audiobook production platform. For publishers and authors, Audible drives exposure, royalties, and incentive for more audio-first releases.
For entrepreneurs and small business owners like us, Audible delivers practical learning opportunities unmatched by print books given our busy, driving-heavy, on-the-go lifestyles!
Whether it’s diving into a leadership book like #AskGaryVee during my commute or playing a negotiation skills course like Chris Voss’ Never Split the Difference over lunch, I retain so much more wisdom via Audible.
Breaking Down Audible’s Business and Features
But what exactly does an Audible membership provide? Audible grants you full access to the largest library of digital audiobooks, original audio programming, and podcasts.
Let‘s examine some key stats about Audible and breakdown of their top features:
475K+ – Audiobook titles available
68K+ – Audible Plus catalog of audiobooks, originals, and podcasts
24K+ – Indie authors who published their first audiobook on Audible in 2021
Key Features
- Whispersync: Seamlessly switch between reading (Kindle) and listening (Audible) without losing your spot
- Original audiobooks and podcasts: Fresh content you won‘t find anywhere else
- Monthly credits: Redeem credits for any audiobook regardless of price
- Audible Plus catalog: For light listeners, get unlimited access to 68K+ titles for just $7.95/month
Let‘s explore how two of these features – Whispersync and Originals – uniquely benefit entrepreneurs like us…
Whispersync allows us to move effortlessly between mediums. Maybe I start a book like Traction on Kindle at my desk, continue listening during my drive home, then resume reading later without missing a beat!
And Audible Original podcasts like Sincerely, X bring engaging first-person narratives exploring remarkable life stories and lessons which continuously inspire me as an entrepreneur.
Maximizing Audible for Your Small Business
For any entrepreneur or small business owner: invest in yourself through books. With hectic schedules, Audible streamlines our learning and growth through efficiently digesting bestselling business books and high-impact podcasts.
Here are three quick tips to maximize Audible as an entrepreneur:
🎧 Schedule monthly learning goals tied to new releases or development topics
🎧 Create an Audible business playlist to stream top entrepreneur playlists, courses or SaaS Founders podcast during daily commutes
🎧 Use Whispersync to seamlessly ingest books across reading and listening
The ROI of an Audible membership stretches far beyond any single credit or piece of content. It represents an investment in the only thing we truly control as entrepreneurs: ourselves. Our knowledge, skills, habits and growth should remain top priorities amidst the daily chaos.
The Future Looks Bright for Audiobooks
In 2021, audiobook industry revenue topped $1.5B with projections estimated to grow nearly 20% annually over the next few years.
Audible sits comfortably at the top of this booming market they‘ve helped expand through smart innovations, acquisition of top titles, and delivery of an unparalleled listening experience covering devices from car speakers to headphones to Echo devices and beyond!
As our lives grow increasingly tethered to phones and devices, Audible offers us entrepreneurs an always-accessible pipeline for self-development and non-stop learning – a key competitive advantage I continue to cherish as both an Audible member and small business owner.
So in short: Audible grants you unlimited, on-demand access to the ideas, stories and practical wisdom of top business minds…without losing an ounce of momentum across your numerous day-to-day responsibilities!
What are your favorite ways to listen or watch on Audible as an entrepreneur? Share your thoughts and recommendations below!
