Why Gen Z And Millennials’ Love For Audiobooks Is Crucial

Hey there!

If you’re a basketball fan, you may have wondered who Rakuten, the Golden State Warriors’ uniform sponsor is.

(If you’re not a basketball fan, you might just have wondered how to pronounce Rakuten.)

Among other things, Rakuten owns Overdrive, the audiobook lending platform, which they bought in 2015 for just over $400,000,000. If you’ve never used it, it’s amazing.

There’s a Forbes article that talks about a study Rakuten commissioned on how popular audiobooks are with various age groups, and found two very interesting reasons why people under 35 are flocking to audiobooks instead of print or e-books.

And you and I both know (and profit from) a third reason.

Link to the ACX Master Class offer:

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Raw YouTube Captioning

hey there it’s David H Lawrence the 17th
and I’ve been spending this week
watching my beloved Golden State
Warriors take on the Houston Rockets and
you may have wondered what the Warriors
sponsor is all about first of all it’s
Rakatan that’s how to pronounce that
it’s a company that sells stuff like
Amazon does and they own a bunch of
things one of which is overdrive if
you’ve never used overdrive and you love
audio books or ebooks overdrive is just
like a traditional library you get to
borrow books ebooks and audio books for
free and sometimes you have to wait
because they’re all the copies that they
have are checked out right so a racket
intones them they bought them for like
four hundred million dollars back in
2015 I haven’t got a clue as to how they
make money with it but they do and
there’s this Forbes article that talks
about a study that Rakatan had
commissioned on why who where how how
much people of various age sex
demographic sells like books both ebooks
and audiobooks and it turns out that
Millennials and Gen Z’s adore audiobooks
that’s people below the age of 35 people
above the age of 35 do as well but about
half as much still a lot I mean we we
have been enjoying an amazing like
hockey stick growth of of popularity of
audiobooks and it’s one of the reasons
that the classes that I teach with vo2
Go Go and with the a CX master class
have been so useful to the people that
produce those audiobooks because people
are just consuming audiobooks like crazy
and it turns out that in the Commission
that they study they came up with two
reasons but there’s actually a third
reason as to why that is the case why
younger people are so into audiobooks
even more so than
older people and the first reason is a
reason that Millennials and Gen Z’s
often get made fun of and that is that
they think they can multitask until the
cows come home and we’ve got another
video in this series about how to
multitask appropriately those rules are
lost on most Millennials that take pride
in how much multitasking they do but
what audiobooks allow them to do that a
physical book or an e-book doesn’t allow
them to do is other things you can
listen to an audiobook when you’re
running when you’re driving when you’re
doing the dishes when you’re cleaning
the house when you’re doing work when
you’re doing spreadsheet work you can be
using audiobooks in the same way that
you use music to provide a background
now can you pay as much attention to an
audiobook probably not so I don’t
recommend if you really want to enjoy an
audiobook doing it while you’re
multitasking but that’s what gen Z and
Millennials do that’s the first reason
the second reason is they’re available
online from any device so you can listen
to an audiobook on your phone your
tablet your computer you can listen to
it on a smart speaker like an Alexa or
Google home or an echo you can and I
know the speaker is the echo and the dot
and the service is Alexa I can already
see people sending me no it’s going ah
you know I have a video on correcting
when things are appropriate to be
correct anyway and so that means they’re
ubiquitous that means they’re everywhere
that means that you can enjoy them from
wherever you are whenever you are in
your car in your bedroom in your living
room out on a run it’s it’s available
anywhere and I think they also missed
the third reason and the third reason to
me is the most powerful and that is the
theory is absolutely no speed bump
between wanting an audiobook and getting
an audiobook I mean literally seconds if
I decide I want an audiobook if any Gen
Z or millennial decides if any older
person decides they want an audiobook
it literally is seconds between making
that decision and having it ready to
play on your smart device because the
just as an example the audible and the
overdrive app both allow you to identify
the title of a book and say yes I want
it and boom it starts to download I mean
you pay for it with the audible app and
it has to be available in the overdrive
app you know the number of copies but
that’s how fast it happens you don’t
have to wait for somebody to deliver it
you don’t have to go someplace and get
it and then bring it home you don’t have
to like have a light you just need your
device and some earbuds or no earbuds it
doesn’t really matter
that speed to customer satisfaction is
exactly the reason that I’m redoing the
vo to gogo website because it’s just too
slow it takes more than a second or two
for someone to get what they want when
they go there and no other form of book
is like that even if you go to the
airport or to a bookstore and buy a
physical book you still have to check it
out you can’t read it on your way on
your way home in the car in the car I’m
just laughing at somebody trying to do
this um so the availability and the lack
of friction between wanting an audio
book and getting an audio book is really
one of the main reasons that the main
users of devices like that love that
process so much it’s one of the reasons
I do I’m not under 35 but I certainly
enjoy audiobooks as much as they do and
speaking of that there’s one little
thing I want to sneak a plug in here for
we’re gonna be teaching the ACX master
class again this summer and all
throughout this week we’ve had an offer
up on the a sex master class site for a
special early early to payment plan a
registration where instead of paying all
of it at once you pay it in two monthly
payments and then when we start the
class in June you’re all set and ready
to go and that closes tonight
if you’re watching this video of the day
it’s released which is May 3rd 2019 if
you’re seeing it anytime after that well
then it’s already closed you don’t have
to worry about what I’m about to tell
you but if you go to a CX masterclass
com right now there is a link that will
take you to this special to payment plan
and there’s no interest and there’s no
fee in addition to what it is and the
price that we’re charging you for the
class is the lowest price that anyone
will pay this year for the class so you
get the best price you get a two payment
plan which eases your cash flow enough
said if you want to be an audiobook
narrator and you want to take a class
from me that has been responsible for
close to 3,000 books being produced for
audible and Amazon and iTunes I’d love
to have you as one of our students and
I’d love to save you some effort and
some time and spread out your payment’s
a little bit as well so go to a CX
master class calm before 9 o’clock
Pacific tonight may 3rd 2019 to take
advantage so now in terms of audiobooks
do you have any questions do you love
audiobooks as much as I do there are
lots of people who narrate audiobooks
that don’t really listen to audiobooks
and I’ve never quite understood that
that’s kind of like a stage actor not
enjoying going to a play or a movie or
television actor not enjoying watching
movies or television knowing your
product is really important if for no
other reason that’s why you should
consume some audiobooks but tell me what
your process is I mean do you get why
it’s so easy and maybe that’s why you
have so many audiobooks if you’re a
collector do you see people using
audiobooks and enjoying audiobooks all
over the place what’s your biggest
challenge there tell me what your
questions are about that you can leave
them in the comment below do it at vo2
gogo calm because that’s where the
conversation is nice and sane and
moderated if you want to join my youtube
channel subscribe to that I get notified
whenever a new video comes out we’re
doing one a day this year right go ahead
and click on my head there if my head
isn’t there look for a subscribe button
somewhere on the page if you want to see
the latest
go ahead and click on that frame and
YouTube will play it for you I’m David H
Lawrence xvii
thanks so much for watching and I’ll
talk to you tomorrow.

4 Responses to Why Gen Z And Millennials’ Love For Audiobooks Is Crucial

  1. Jamie Werner May 3, 2019 at 8:12 am #

    It’s all about instant gratification. I can’t wait until Amazon starts using a Star Trek style “tele-porter”. LOL

  2. Kirsten May 3, 2019 at 8:50 am #

    I LOVE Overdrive for my e-books!! I like to actually read books….. good thing, right???!?!?? LOL!
    See you in class :)

  3. Laura May 7, 2019 at 4:21 pm #

    I have a ridiculous daily commute. I listen to upwards of 70 audiobooks a year. I’m about to start recording my 10th book. I love both sides of the mic!

  4. Karen Merritt May 8, 2019 at 6:35 am # is another great resource available through our library. You can get audiobooks, movies/television shows, e-books, comics, and music.

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