AAP Annual Stats for 2023: Analyzing the 8.1% Decline in Unit Sales, Offset by Rising Prices

The Association of American Publishers (AAP) recently released their StatShot Annual Report for 2023, providing a detailed look at the publishing industry’s performance. Compiled by the same firm that took over the AAP’s monthly statistical reports in 2024, the report offers refreshed data for the past five years from the current pool of publishers.

Key Highlights:

• Trade Sales:
  • 2023 trade sales reached $8.71 billion, marking a slight decline of $147 million (or 1.7%) from $8.857 billion in 2022.
  • Trade units experienced a sharper decline, with 1.162 billion books sold compared to 1.265 billion units in 2022—an 8.1% drop. Despite this, price increases helped mitigate some of the financial impact.
• Adult and Children’s/YA Segments:
  • Adult Books: The adult market saw a decrease of 24 million units, totaling 661 million books—a 3.5% drop.
  • Children’s/YA Books: This category experienced a more significant decline, with units dropping by 79 million to 501 million—down 15.8%.
• Export Market:
  • Exports fell by $96 million, a 19% decline, reflecting softer international demand. In contrast, the domestic market fared better, with a marginal decline of just 0.6%.

Genre-Specific Trends:

Circana Bookscan data revealed a slight increase in print unit sales for adult fiction, up by 1.5 million units (1%). However, the AAP’s comprehensive data, which includes both print and digital formats and export sales, showed declines across all major categories:

• Adult Fiction: Sales dropped by 21 million units, with a total of 366 million units sold.
• Adult Nonfiction: A relatively stable segment, with a slight decrease of 3 million units, totaling 295 million.
• Children’s/YA Fiction: A significant decline, with 418 million units sold—down 62 million.
• Children’s/YA Nonfiction: This segment also saw a drop, with 83 million units sold, a decrease of 17 million.

Digital Sales and Emerging Trends:

Digital sales experienced growth, reaching $1.824 billion—a 5.6% increase from 2022, driven primarily by the rise of digital audiobooks. Digital audio sales jumped to $835 million, up from $733 million in 2022. Conversely, ebook sales slightly declined by $5 million, totaling $989 million.

Digital formats now account for 21% of overall dollar sales. However, the distribution varies significantly across genres, with digital making up 33% of fiction sales but less than 2% of children’s and YA nonfiction.

Last Looks

While the 8.1% decline in unit sales for 2023 presents challenges, the industry’s ability to balance this with price increases and a strong digital market highlights its resilience. For a deeper dive into these statistics, members can access the full breakdown at PublishersMarketplace.com, and the comprehensive report is available for purchase from the AAP.

This report underscores the complexities and shifting dynamics within the publishing world, offering valuable insights for industry professionals navigating the changing landscape.