How has the Italian publishing industry fared this year?

We are now almost at the end of 2023, a year of transition for digital publishing. On one hand, data and references confirm the substantial resilience of the sector. On the other hand, there are both bright spots and uncertainties about a future that is yet to be written and defined. But let’s proceed in order.

Italian publishing holds up: AIE data

In October, on the occasion of the Frankfurter Buchmesse, the Italian Publishers Association (AIE) presented data on the publishing industry in our country. The turnover in 2022 reached 3.4 billion euros, 300 million euros more than in 2019. This significant growth places the Italian publishing industry in fourth place in Europe in terms of sales value, behind Germany, the United Kingdom, and France.

In 2022, 83,950 new print titles were published, a slight decrease compared to 2021 (-1.5%). The catalog offered comprises almost 1.4 million titles, primarily driven by online growth. The total copies sold from January to September amounted to 69.9 million, 1 million less than the previous year but 9 million more than in 2019.

As for Italians’ reading habits, regarding sales channels, physical bookstores continue to be preferred, accounting for over half of purchases (53.9%), but facing increasing competition from online platforms (41.3%), while large-scale retail remains relatively stable (4.8%).

Readers appear to be distributed across a broad and diverse spectrum. As a general statistic, according to the Pepe Research report for AIE, 71% of citizens aged 15 to 74 declared having read at least one book (print or eBook) or listened to an audiobook in the last 12 months. The sample is quite varied, with a reading percentage of 90% in the 15-17 age group, 89% in the 18-24 age group, 79% in the 25-34 age group, 78% in the 35-44 age group, 66% in the 45-54 age group, 59% in the 55-64 age group, and 63% in the 65-74 age group.

Regarding reading time, only 21% of readers read more than 5 hours per week, although an additional 16% fall within the 3-5 hour range, and the percentages are relatively consistent in shorter time frames. The number of publishers, both independent and non-independent, has significantly increased. The active publishing houses in 2022 that contributed at least one title to the database of books for sale exceeded 5,000.

Kobo’s report: TikTok in the spotlight

Interesting data also come from the Kobo Book Report 2023. 1,800 is quite an impressive number and corresponds to the hours spent by Italians reading (and listening to audiobooks) since January. Moreover, certain periods of the year and the day have proven to be more ‘reading-friendly.’ For instance, the month in which Italians read the most is August, followed by July and January.

Regarding audiobooks, the golden month is May, while both books and audiobooks share the same favorite day of the week, Sunday. Analyzing the day in more detail, the time devoted to reading is generally higher in the evening, before going to bed. As for the highlighted genres, True Crime takes the lead with a 280% growth compared to 2022, followed by Young Adult fiction, with a growth of 94%.

But beyond the numbers, the report clearly highlights the crucial role of social media in the selection of reading titles, especially among younger audiences. Naturally, TikTok takes center stage, with the #BookTok hashtag representing a steadily growing sub-community where creators review books and create content related to reading. To provide some figures for our country, the #booktokitalia hashtag has exceeded one billion views. In addition to promoting emerging titles, TikTok has also proven to be a very effective tool in bringing past titles back into the spotlight.

Predictions for 2024

In short, digital publishing is growing and evolving, and social media increasingly appears to be a fundamental tool for what is the primary Italian cultural industry. What can be expected for 2024? It’s hard to say, although the market will likely continue to consolidate around the same indicators as this year. The growth of the online market at the expense of the physical one will persist, and audiobooks will continue to play an important role. Are there any game changers on the horizon? For now, not likely.