Audio books are a sound biz now

Shanghai-based Ximalaya Inc, owner of a Chinese audio-sharing app that has become popular in recent years, not only provides a large number of books in audio format but allows its millions of users to create and share audio content.

Ximalaya has audio copyrights to 70 percent of current bestsellers. Its users appreciate the books by listening. The number of such active users has surpassed 300 million.

"There is huge potential in the audio publishing market in China," said Yu Jianjun, CEO and founder of Ximalaya.