Audio Book Club Announces 300,000 Members

Posted on February 20, 1998

Audio Book Club launched the first club solely dedicated to audio books in January, 1994. By May 1996, the club had expanded its total member file to 100,000 and one year later, in May 1997, the number reached 200,000.

Norton Herrick, Chairman and CEO, stated, "The growth in our business over the past few years has been a direct result of the increasing demand for audio books. In fact, 1997 audio book industry sales are estimated to be approximately $2.0 billion, a significant increase from $250 million in 1989. Individuals are simply much busier today, leaving little or no room for reading and other leisure activities. Audio books allow listeners to enjoy their favorite titles while exercising, driving or performing a multitude of other tasks."

Audio Book Club, Inc. is a direct marketer of over 65,000 audio books through Audio Book Club, a membership club which markets and sells audio books by mail order and via the Internet. Since commencing operations in January 1994, the Company has engaged in an aggressive membership recruitment program to establish a core Audio Book Club member base and to continually expand such member base.