33 Best Selling Books of 2023

In This Article:

In this article, we look at the 33 best selling books of 2023. You can skip our detailed analysis of the publishing industry and head over directly to the 10 Best Selling Books of 2023.

WordsRated is a research organization that tracks trends in the books and publishing industry. According to its report titled Global Book Sales Statistics, the global book sales revenue was estimated to be slightly over $78 billion in 2023 - which is 2.53% higher than last year. This is an encouraging figure, considering that sales had dropped by over 10% in 2022 compared to 2021.

Over 2.2 billion books are sold each year. The US, China, UK, Germany, and Japan are the top five book buying countries, accounting for nearly two-thirds of the global book sales. Their share is likely to rise further to 68% by 2027.

However, trends in the book market are changing. Brick and mortar bookshops account for only 50.3% of the global revenue from book sales. Today, more than 25% of the books are sold through online channels. E-books, or electronic books, are also a phenomenon that is growing in popularity. Texts and images are displayed digitally, allowing readers to read books on their smartphones, tabs, or computer screens. The concept first emerged in the 1990s, with companies selling book content for reading on personal digital assistants (PDA). It has seen a boom since Amazon.com, Inc. (NASDAQ:AMZN) launched Kindle, its e-reading device, in 2007. According to the PEW Research Center, 30% of Americans now read e-books.

Another change has been the advent of audiobooks, which is the fastest growing segment in the books industry. Audio books are audio recordings of books being read out loud. Global audiobook revenue is estimated to reach $5.16 billion in 2023. In 2021, more than $1.8 billion worth of sales were generated from this segment in the United States. Audio books are quickly becoming the preferred mode of books for people belonging to low income groups. Percentage of adults with an annual household income of under $30,000, who have listened to an audiobook, increased from 14% in 2019 to 22% in 2022, as per a survey by PEW.

Due to a drop in print book sales revenue globally and other business reasons, Amazon.com, Inc. (NASDAQ:AMZN) in March, this year, announced the closure of all of its physical bookstores in the US. However, print book sales still make up nearly 80% of the industry revenue. Barnes & Noble Education, Inc. (NYSE:BNED) is the largest bookstore chain in the US having presence in 627 locations. In 2022, Barnes & Noble Education, Inc. (NYSE:BNED) had a revenue of $1.5 billion.