Predictions that books are a dying product may have been premature. Latest data shows sales are mostly stable, and audio books are booming.
Positivity in the book market has been driven by an announcement from Barnes & Noble that it will have opened 60 new stores by the end of this year.
This includes 12 new outlets in the United States in November alone.
B&N CEO James Daunt said the expansion came on the back of strong sales at existing stores.
Data from Statista shows that around two billion people are still buying books each year and audio books are growing so rapidly that their sales figures are similar to physical books.
Revenue in the books market worldwide was projected to reach $US91.98 billion in 2024 off the back of annual growth of 1.58 percent.
In 2024, around 30.6 percent of the population is expected to buy books, with an average spend of $US37.95.
Other global data from GfK Entertainment and Nielsen BookData shows that three quarters of the 16 countries surveyed were recording increased book revenue.
In the survey, Australia was one of only four regions to record a decline in revenue in 2023 (-2.1 percent). New Zealand had an even greater decline at -5.4 percent.
