Audio books are a sound biz now
Shanghai-based Ximalaya Inc, owner of a Chinese audiosharing app that has become popular in recent years, not only provides a large number of books in audio format but allows its millions of users to create and share audio content.
Ximalaya has audio copyrights to 70 percent of current bestsellers. Its users appreciate the books by listening. The number of such active users has surpassed 300 million.
“There is huge potential in the audio publishing market in China,” said Yu Jianjun, CEO and founder of Ximalaya.
He estimates the market size will reach 300 billion yuan in sales in the future.
This will likely benefit the whole industry chain, including authors, publishers, voice specialists and app developers, he said.
According to Beijing-based internet consultancy Analysys, China’s audio book market has witnessed rapid growth in recent years.