These reasons are complemented by the analysis carried out by Omdia, since the analysis firm indicates that access to smartphones, the search for different content and the gradual return to the new normality are factors that have helped this business vertical have better market forecasts. In fact, the consultant points out that by 2026 the audiobook market will grow 13.9%, reaching 93,000 million dollars.
“When we arrived in Mexico, we saw that the places where the contents were listened to the most was while people were traveling to their homes or jobs, that is. while they were stuck in traffic, now with the return to the new normal, this phenomenon is being replicated,” says Parra.
In contrast, the Inegi points out that the main reasons why Mexicans do not read is lack of time and lack of interest, motivation or pleasure in reading.
“We have invested in originals with the idea of creating more attractive formats for audiences, for example radio soap operas have a long tradition in Latin American countries, but we also see that language or entrepreneurship books are very well received by users in Mexico,” he says. Storytel spokesperson.
Omdia says that the largest region in terms of revenue is Asia and Oceania, with a 45% market share, while China is the largest single market for listeners with 92 million paying users, as of December 2021.