July 19, 2023
AAP May 2023 StatShot Report: Overall Publishing Industry Flat for Month of May, and Up 0.7% Year-To-Date
Trade (Consumer Book) Revenues Down 1.6% for Month of May, and Down 1.9% Year-to-Date
The Association of American Publishers (AAP) today released its StatShot report for May 2023 reflecting reported revenue for Trade (Consumer Books), Higher Education Course Materials, and Professional Publishing.
Total revenues across all categories for May 2023 were flat as compared to May 2022, coming in at $846.8 million. Year-to-date revenues were up 0.7%, at $4.7 billion for the first five months of the year.
Trade (Consumer Books) Revenues
Trade (Consumer Books) revenues were down 1.6% in May, coming in at $661.3 million.
In terms of physical paper format revenues during the month of May, in the Trade (Consumer Books) category, Hardback revenues were down 0.3%, coming in at $233.5 million; Paperbacks were down 3.6%, with $239.5 million in revenue; Mass Market was down 41.2% to $6.1 million; and Special Bindings were down 21.5%, with $10.2 million in revenue.
eBook revenues were down 0.9% for the month as compared to May 2022 for a total of $81.1 million, while the Digital Audio format remained up at 15.3% for May, coming in at $68.9 million in revenue. Physical Audio was down 8.5% coming in at $1.1 million.
Year-to-date Trade revenues were down 1.9%, at $3.4 billion for the first five months of the year. Hardback revenues were down 3.5%, coming in at $1.2 billion; Paperbacks were down 2.2%, with $1.2 billion in revenue; Mass Market was down 19.5% to $59.8 million; and Special Bindings were down 1.7%, with $69.6 million in revenue.
eBook revenues were down 1.0% as compared to the first five months of 2022 for a total of $414.0 million. The Digital Audio format was up 18.0%, coming in at $345.8 million in revenue. Physical Audio was down 23.2% coming in at $4.6 million.
Religious press revenues were down 7.8% in May, coming in at $59.9 million. Hardback revenues were down 16.7% to $33.2 million in revenue, while Paperback revenues were up 7.6% to $12.0 million. eBook revenues were up 12.9% coming in at $4.6 million, and Digital Audio revenues were down 9.6% at $4.0 million.
On a year-to-date basis, religious press revenues were down 0.4%, at $321.9 million. Hardback revenues were down 3.8% at $186.0 million in revenue, Paperback revenues were up 4.2% to $62.7 million, eBook revenues were down 3.1% at $24.0 million, and Digital Audio revenues were up 10.2% at $19.3 million.
During May 2023 revenues from Higher Education Course Materials were $132.5 million, up 11.3% compared with May 2022. Year-to-date Higher Education Course Materials revenues were $1.0 billion, up 12.3% compared to the first five months of 2022.
Professional Books, including business, medical, law, technical and scientific, were down 8.4% during the month, coming in at $40.8 million. Year-to-date Professional Books revenues were $203.3 million, down 3.5% as compared to the first five months of 2022.
AAP StatShot reports the monthly and yearly net revenue of publishing houses from U.S. sales to bookstores, wholesalers, direct to consumer, online retailers, and other channels. StatShot draws revenue data from approximately 1,240 publishers, although participation may fluctuate slightly from report to report.
StatShot reports are designed to give ongoing revenue snapshots across publishing sectors using the best data currently available. The reports reflect participants’ most recent reported revenue for current and previous periods, enabling readers to compare revenue on both a month-to-month and year-to-year basis within a given StatShot report.
Monthly and yearly StatShot reports may not align completely across reporting periods, because: a) The pool of StatShot participants may fluctuate from report to report; and b) Like any business, it is common accounting practice for publishing houses to update and restate their previously reported revenue data. If, for example, a business learns that its revenues were greater in a given year than its reports first indicated, it will restate the revenues in subsequent reports to AAP, permitting AAP in turn to report information that is more accurate than previously reported.