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Report: Spanish Language Audio Markets See Big Growth

Report: Spanish Language Audio Markets See Big Growth

In its second ‘Map of the Spanish Audio Industry’ report, Javier Celaya’s Dosdoce cites extraordinary uptake.

In Valladoli, December. Image – Getty iStockphoto: Miguel Habano

By Porter Anderson, Editor-in-Chief | @Porter_Anderson

Close to 750 Audio Entities within the Spanish Language

In the second version of its “Map of the Spanish Audio Industry” report, the Bilbao-based Dosdoce digital publishing consultancy has right now (January 25) launched its evaluation that “In only one yr, the audio {industry} in Spanish-language markets has practically doubled in dimension, rising 75 p.c in 2023 over progress noticed in 2022.

Led by Javier Celaya, Dosdoce makes stories on the expansion of audio consumerism within the Spanish-language markets which are usually adamantly upbeat, with this one being no exception.

Among top-line observations:

  • Nearly 750 entities make up the Spanish audio {industry} ecosystem in 2024, as in comparison with 423 in 2023, a outstanding growth of engaged firms by any metric. Dosdoce’s “map” refers to an inventory of such outfits.
  • Involved is the opening of an €8 million monetary package deal (US$8.7 million) by the Spanish authorities to bolster audio-industry progress. This “audio area” was opened in June of final yr within the framework of Madrid’s PERTE New Language Economy initiative, tied to the prevalence and potentials of the Spanish language.
  • Although Spain continues to be the principle hometown of such firms and organizations that make up the audio {industry} within the Spanish language at 40.27 p.c of exercise, Latin America has had what the report sees as a 30.7-percent stage of progress within the final yr, the report says, reaching 37 p.c of its a part of the worldwide image, whereas Dosdoce charges the Hispanic market within the United States as rising by 11.3 p.c to come back to fifteen.7 p.c of the overall illustration of entities within the Spanish-language audio {industry}.
  • Artificial intelligence—whereas that may imply a number of issues in audio fields—is seen as gaining floor within the Spanish audio {industry}, in what Dosdoce cites as 290.4-percent progress, yr over yr.
  • The audio-entertainment {industry}—inclusive of podcasts, audiobooks, radio, and streaming music—is predicted by Celaya’s estimation, to proceed rising at some 10 p.c worldwide, as seen in revenues derived from subscription platforms, promoting revenues, branded content material, and sponsorships, though a with very completely different income contributions per audio format, in keeping with a research Dosdoce factors to from the Deloitte Center for Technology, Media, and Telecommunications.
Consumption Driving Available Content

Behind what Dosdoce is targeted on within the Spanish-language markets for audio services, three main financial sectors are seen as drivers:

  • Sound-content manufacturing studios at 30.29 p.c
  • Media retailers investing in audio at 22.10 p.c
  • Audio streaming companies in podcasts, audiobooks, audio dramas, “sound fiction,” and so forth, at 11.46 p.c

Javier Celaya

“Over the previous couple of years,” commentary within the report reads, one of many key results noticed has been quick catch-up by way of obtainable content material versus rising demand.

“We have witnessed how the consumption of content material in audio format in Spanish has skyrocketed, creating an audio catalogue made up of greater than 100,000 podcasts and exceeding 25,000 audiobooks in Spanish, in comparison with the scarce audio content material in Spanish of lower than 1.000 titles from simply 5 years in the past.”

It needs to be famous by world guide publishing {industry} professionals that the sorts of metrics and actions famous right here will not be all the time, and typically not primarily, associated to audiobooks.

The first of Dosdoce’s two ‘mapping’ graphics for Spanish-language gamers. Image: Dosdoce

The authorities funding introduced into the image in the summertime of 2023 seems to be to help, for instance:

  • Podcast pre-production, manufacturing, and distribution
  • “Acceleration” or incubation tasks and mentoring
  • Professional occasions and exhibitions related to podcasting

And the Deloitte research, as Dosdoce factors out, seems to be at radio applications and podcasts as carrying the world’s largest audiences, described as standing at 4 billion radio listeners, 1.7 billion of whom additionally hearken to podcasts.

On the opposite hand—and faithfully conveyed by Dosdoce—Deloitte is seeing audiobooks and streaming music “barely reaching 1 billion listeners worldwide

Nevertheless (and this displays that time of differing revenues talked about earlier), Deloitte sees a reverse in revenues: Podcasting and radio generate the least income, albeit with the most important audiences, per Deloitte’s analysis, whereas audiobooks and streaming music, reaching far fewer shoppers, generate probably the most income, with audiobooks estimated to be driving some US$7 billion  in income and streaming music some US$23 billion. The decline in promoting is seen because the perpetrator for much less income in podcasting and radio, with “the consolidation mannequin”—and at that, we should always think about Spotify’s provide of audiobooks—bringing collectively audiobooks and music.

In the Spanish-language world, Dosdoce sees Latin America and the Hispanic market within the United States as the important thing progress facilities.

The second of Dosdoce’s two ‘mapping’ graphics for Spanish-language gamers. Image: Dosdoce

In Latin America, Argentina seems to be within the lead for progress of about 24.8 p.c over final yr’s “mapping,” with Mexico and Colombia following in progress of 21.76 and 19.85 p.c respectively.

In the European markets, the United Kingdom, per Dosdoce, has probably the most audio exercise in Spanish after Spain itself. The Nordic markets then observe by way of Spanish-language exercise within the audio sectors.

And by way of that consolidation issue talked about earlier, Dosdoce seems to be at how podcast-only platforms appear to have elevated their presence by some 4 p.c (49 from final yr’s 45 p.c), whereas audiobook-only platforms have stepped again (to 31 p.c from 38 p.c final yr). Some 20 p.c of platforms are seen to offer the total vary of audio content material, up from 17.6 p.c final yr, all of this indicating {that a} variety of content material choices is a boon and a development more likely to proceed increasing.

A programming observe: Dosdoce and Celaya are working along with the Fundación Germán Sánchez Ruipérez‘s (FGSR), which gives the Readmagine program every late spring, to current a primary worldwide assembly of audio specialists in Spanish on February 27. Audio Day Parix 2024 is below the muse director Luis González on the GSR’s Matadero Madrid Casa del Lector complicated.

The analysis behind Dosdoce’s report right now was performed in October, November, and December 2023.


More from Publishing Perspectives on audiobooks is right here, extra on digital publishing is right here, extra on Spanish-language information is right here, extra on Spain’s market is right here, extra on Mexico’s market is right here, extra on Dosdoce’s work is right here, and extra on {industry} statistics is right here

About the Author

Porter Anderson

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Porter Anderson has been named International Trade Press Journalist of the Year in London Book Fair’s International Excellence Awards. He is Editor-in-Chief of Publishing Perspectives. He previously was Associate Editor for The FutureBook at London’s The Bookseller. Anderson was for greater than a decade a senior producer and anchor with CNN.com, CNN International, and CNN USA. As an arts critic (Fellow, National Critics Institute), he was with The Village Voice, the Dallas Times Herald, and the Tampa Tribune, now the Tampa Bay Times. He co-founded The Hot Sheet, a publication for authors, which now could be owned and operated by Jane Friedman.

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January 25, 2024 at 02:15PM

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