Book publishing trends are often projections based on current popular topics. The trending themes at the end of 2023 are likely to continue to be popular in 2024. However, in today’s dynamic book market, the way we create, discover, and consume books has never been more unexpected.
Sure, fantasy literature will remain popular as a genre. However, the proliferation of book formats, creator voices, distribution methods, and self-publishing options is fast changing how consumers and creators traverse the literary environment.
To catch you up, here are some of the most significant and interesting book trends to watch for in 2024.
Rising popularity of Self Publishing
Self-publishing is more than simply a publishing choice; it’s a thriving industry that gives writers more freedom and the possibility for larger profits. Let’s figure out what this means for you as an author.
The self-publishing market is increasing at 17% per year, far exceeding the traditional publishing market’s 1% growth, showing a dynamic and expanding arena for new artists.
Royalties and Earnings
Self-publishing can result in huge financial rewards. Creators on platforms such as Amazon KDP are enjoying significant profits, with over 2,000 authors earning more than $100,000 in royalties only in 2022 alone. Even better, self-publishing networks generally pay creators up to 70% of sales income, which is far higher than traditional publishing earnings.
Women are leading the literary culture.
In an optimistic trend, 67% of the best self-published books have been written by women, which contrasts with the traditional publishing landscape.
Empowered indie authors
The case of Brandon Sanderson, who funded a record-breaking $41 million on Kickstarter for his self-published books, exemplifies the power of independent publishing and indie authors’ community.
Recognition and respect
The self-publishing industry is gaining traction, with prominent accolades such as the Pulitzer Prize and the British Book accolades now available to self-published authors. This raises the potential and status and potential of self-published works within the literary community.
Genre diversity and publishing frequency
Over half of self-published authors produce more than ten books. The romance, Sci-fi, fantasy, and crime/thriller genres make up 57% of all self-published works.
Sales and market share
Self-published eBooks account for 30-34 percent of total eBook sales, with an estimated 300 million volumes sold each year. This represents a significant market share and opportunity for new authors.
Realistic expectations
While the typical self-published book sells over 200 copies for $4.16, there is potential for considerable earnings. However, it’s worth noting that 90% of self-published books sell fewer than 100 copies, and 20% of authors report no income. This emphasizes the significance of marketing and audience involvement for self-publishing success.
Comparative success
According to one survey, among authors who released their first book in the last ten years, more self-published authors (1,600) made more than $25,000 per year than professionally published authors (1,200).
The global children’s book publishing
The children’s book publishing market is expected to grow significantly between 2024 and 2031. The market increased steadily in 2022, with key players adopting new strategies.
The global Children’s Publishing market was valued at USD 9400.0 million in 2021, and it is predicted to grow at a CAGR of 2.96% over the forecast period, reaching USD 11200.0 million by 2027.
Trending genres
Certain literature genres are receiving greater attention than others as we approach 2024. According to the most popular books to be published in 2023 and popular genres in recent years, some notable genres are on-trend. In 2024, the most popular book genres are projected to be young adult, fantasy, romance, suspense, thriller, historical fiction, Sci-fi, self-help, and memoir.
Trending Photo books
Photo books have emerged as an appealing creative outlet for an expanding consumer base. While the general photo album market for family vacations, weddings, and other events is the largest contributor to this increasing tide, photo books are being used in a variety of professional applications.
Professional photography portfolios are the major categories, with landscape, animal, portrait, and street photographers driving growth in 2023 and possibly into 2024.
Growth in comics and graphic novels
Comics and graphic novels, another billion-dollar book business that has grown rapidly in recent years, are expected to witness increased interest, particularly with many new publications on the horizon.
Among the most notable is a new line of graphic novels called DC Compact Comics, which features DC stories from a variety of genres, including science fiction, thrillers, horror, fantasy, adventure, and mystery. Undoubtedly a widely anticipated source of comic inspiration, these “read anywhere” graphic novels will be available in June 2024.Â
In addition to authors, photographers, designers, and visual artists are also self-publishing their works, ranging from interior design portfolios to coffee table books.
Self-publishing not only offers larger margins, but it also gives you entire control over the publication ownership and process of your work. The absence of traditional publishers and literary agencies promotes diversity and allows marginalized voices to be heard, removing all creative restrictions.
