The U.K. publishing industry saw a slight revenue increase in 2024, reaching £7.2 billion ($9.1 billion), up 1% from £7.1 billion ($9 billion) in 2023, according to newly released data from the U.K. Publishers Association. The figures highlight a near balance between print and digital sales, with print revenue declining 3% to £3.8 billion ($5.1 billion), while digital revenue rose 6% to £3.5 billion ($4.7 billion).
Digital growth was evident across all major publishing sectors: consumer, education, and academic.
Audiobooks stood out as a significant driver, generating £268 million ($339 million)—the highest revenue on record and a 31% increase compared to the previous year. Fiction revenues surpassed £1.1 billion ($1.27 billion) for the first time, growing 18%, while non-fiction saw a 4% decline to £1.1 billion. Revenue from children’s books remained steady at £413 million.
Dan Conway, CEO of the Publishers Association, remarked, “It’s fantastic to see fiction, audiobooks, and digital formats thrive in 2024. Publishers have clearly met readers’ demands with engaging content across multiple platforms. The growth in fiction, particularly fantasy and romance, likely reflects a heightened desire for escapism during uncertain times.”
Exports remained vital to the sector’s performance, generating £4.5 billion ($5.7 billion)—63% of total revenue—marking a 3% increase from 2023’s £4.4 billion ($5.6 billion). The U.S. was the largest export market for trade books, with a 23% rise in sales, followed by Australia and Germany, which grew 9% and 4% respectively.
Within the consumer (trade) publishing segment, total revenue reached £2.5 billion ($3.2 billion), a 5% increase from the previous year. Domestic sales rose 2% to £1.5 billion ($1.9 billion), while exports jumped 9% to £1 billion ($1.27 billion). Digital revenue in this sector surged 17% to £566 million ($717 million), and print revenue grew 2% to £2 billion ($2.5 billion).
Fiction revenues in the consumer market climbed 18% to £1.1 billion ($1.4 billion), whereas non-fiction declined 4% to £1.1 billion ($1.4 billion). Children’s publishing revenue remained flat at £413 million ($523 million).
Challenges in Education and Academic Publishing
Education publishing, which includes textbooks, experienced a 3% revenue decline to £639 million ($810 million), driven primarily by an 11% drop in the domestic U.K. market to £171 million ($217 million). Export revenues remained unchanged at £467 million ($592 million). Print sales fell 5% to £539 million ($683 million), though digital sales rose 5% to £100 million ($127 million).
Academic publishing—which covers journals, books, monographs, and conference proceedings—posted total revenues of £3.5 billion ($4.4 billion), a 1% decrease from 2023. Revenue from academic books dropped 8% to £1 billion ($1.27 billion), while journal revenues increased 3% to £2.5 billion ($3.2 billion).
In the academic sector, domestic revenue declined 9% to £852 million ($1.08 billion), offset slightly by a 2% export revenue increase to £2.7 billion ($3.4 billion). Print revenue dropped 13% to £836 million ($1.06 billion), but digital revenue grew 4% to £2.7 billion ($3.4 billion).
Conway noted, “While consumer publishing had a robust 2024, the outlook is more challenging for education and academic sectors, especially within the U.K. market. This trend reflects ongoing funding pressures across education. Nevertheless, digital formats continue to grow even as print declines.”
