Will the physical book survive? When the Swedish Publishers' Association analyzes the book industry's development over the past 20 years, it is clear that digitalization has turned everything upside down. In 2023, the market shares of streaming services were 32 percent, and only 22 percent for physical bookstores. Online bookstores, which were in their infancy in 2003, had a market share of 42 percent the same year.
Most surprised is Richard Herold, chairman of the Swedish Publishers' Association, about how big Storytel has become.
We have of course seen it, but when we presented the figures, it became exciting, it was a company that did not even exist ten years ago, which has taken an enormous step into the market, both on the distribution and publishing side.
The number of titles is increasing
The physical book still accounts for two-thirds of the book industry's revenue, and Richard Herold is not worried that it will disappear. But a challenge for publishers is that there are more titles being offered, he believes.
The number of titles will increase and no books will disappear. Twenty years ago, books were sold out, now they exist as e-books, audiobooks, and in their original language.
To ensure that quality, diversity, and depth continue to exist in Swedish publishing, literary support is central, according to the report.
Price a challenge
The pace of change in the book industry is unlikely to slow down, the report predicts, for example, more AI-read books and more books available in their original language in the future.
Those who read a lot have gained access to more books at a very low price, and that is a challenge for the industry, says Richard Herold.
The number of sold printed books decreased during the 20-year period from 40 million copies in 2003 to 24 million copies in 2023. The number of streams of digital books was the same year 44 million (of books that were published during the second half of the 2010s).
Between 2018 and 2022, book sales remained relatively stable, but there was a significant shift within genres. The publication of Swedish fiction has increased significantly at the expense of translated fiction, non-fiction – especially translated – and children's and young adult books.
Since 2018, for example, the total number of sold copies of newly published translated fiction has decreased by 15.2 percent, or 646,000 copies. The number of new releases of children's and young adult literature had more than halved by 2022 compared to 2018.
