The figures were released at a conference to review 2023 and implement tasks for 2024 held in Hanoi on March 22 by the Authority of Publication, Printing and Distribution under the Ministry of Information and Communications (MIC).

Meanwhile, the volume of publications powered by smart technologies such as e-publications rose sharply, reaching 4,000 titles, up 19.4 per cent on-year, with around 36 million copies, up 11 per cent on-year.

In total, 24 out of 57 publishing houses participated in e-publication and distribution in 2023, up 26.3 per cent and accounting for 42.1 per cent of the total number of publishing houses.

This has helped raise the e-publication market share to 15.3 per cent, surpassing the target of 12 per cent.

This year, the number of publishing houses engaging in e-publication and distribution is expected to reach 27-28 units.

In addition, revenue from audiobooks rose to $4.83 million during 2022-2023, surpassing the target.

“With a surging number of units embracing e-publication and distribution and breakthrough growth in audiobooks, Vietnam’s e-publication market has been catching up with its regional and world peers with the provision of increasingly diversified e-publications serving local audiences,” said Nguyen Nguyen, director general of the Authority of Publication, Printing and Distribution.

Nguyen noted that the publishing sector has been trying to utilise digital technology in diverse aspects of operation, such as digitising data, creating big data, and boosting digital transformation of operational processes to create products which meet readers’ diversified needs.

Publishing units have also developed a shared platform for e-publication and distribution to save on costs.

“AI is being widely applied in editing book content and creating audiobooks with different voices to meet audiences’ specific needs, helping to enrich the publishing sector's offerings,” said Nguyen.

Minister of Information and Communications Nguyen Manh Hung noted that innovation will be the game changer for the publishing sector, so publishing units need help building state-of-the art digital platforms that cover creation, editing, media, multimodel distribution, gathering comments, and data analysis.

“It is time for the publishing sector to embrace strong innovation for subsistence and development, heralding a new development chapter in digital publishing and a combination of traditional and digital publications,” said Hung.

From the business side, Dinh Quang Hoang, CEO of major e-book platform Waka, assumed that the largest challenge to businesses was forming an income-raising model from new technology and balancing social values and reasonable costs to maintain operations.

Hoang stressed the need for businesses in the sector to share data and platforms to reduce costs.