Photo: Jan Woitas/picture alliance via Getty Images

In the era of on-demand video, consumers are still looking to engage with feature stories, mostly by listening to audiobooks, or in some cases by reading them through an app.

Why it matters: Like any traditional medium, books have needed to evolve in the digital era to meet consumers where they are. The popularity of books in digital formats speaks to a willingness from users to engage with written stories, even when the options are endless for them to consume videos or music more passively.

Driving the news: Scribd, one of the first digital subscription reading services (think of it like a digital library), announced Monday that it that had more than one million paying subscribers globally.

  • It launched its unlimited subscription plan last year for $8.99 a month and says it has since grown its subscriptions over 40% year over year.
  • It's seen an 100% increase in audio users over the course of 2018, with more people on its platform listening to audiobooks than ever before.

Audiobooks is the fastest-growing sector within the book publishing industry, according to The Association of American Publishers.

  • The latest consumer study conducted by Edison Research for the Audio Publishers Association estimates that audiobook sales have experienced double-digit growth for six years year-over-year.
  • Amazon-owned Audible, unsurprisingly, is driving a large chunk of that growth. It's one of the biggest producers and retailers of audiobooks via a subscription service, with over 400,000 titles. The company says members downloaded almost 2 billion hours of content in 2016.
  • Amazon-rival Google launched an audiobook product last year called Google Play Books that does not require a subscription.

Yes, but: The rise of audiobooks could be eating at the growth of eBooks, which decreased in sales by 4.8% in the first six months of 2018, per the American Publishers Association.

  • Still, the number of Americans who say they read eBooks has slightly increased over the past six years, according to the Pew Research Center.
  • And very few Americans say they consume digital books exclusively. Most digital book consumers say they also read regular books, per Pew.

1 fun thing: Although not derived from books necessarily, storytelling chat apps are also growing. Chat-fiction apps like "Yarn" and "Hooked" have grown in popularity over the past few years, particularly amongst teen audiences.

Go deeper: Americans still read books

Go deeper

Media prepares to fact check debates in real time

Illustration: Annelise Capossela/Axios

From live blogs to video chyrons and tweets, media companies are introducing new ways to fact check the presidential debates in real time this year.

Between the lines: The debates themselves are likely to leave less room for live fact-checking from moderators than a traditional news interview would.

Life after Roe v. Wade

The future seems clear to both parties: The Supreme Court will overturn Roe v. Wade in the next few years, either gradually or in one fell swoop, and the abortion wars will move to a state-by-state battle over freedom and restrictions. 

What's new: Two of the leading activists on opposite sides of the abortion debate outlined for “Axios on HBO” the next frontiers in a post-Roe v. Wade world as the balance on the Supreme Court prepares to shift.

Dion Rabouin, author of Markets
1 hour ago - Economy & Business

Jerome Powell, Trump's re-election MVP

Photo illustration: Annelise Capossela/Axios. Getty Images photos: Andrew Caballero-Reynolds/AFP and Lev Radin/Pacific Press/LightRocket

President Trump trails Joe Biden in most polls, has generally lower approval ratings and is behind in trust on most issues. Yet polls consistently give him an edge on the economy, which remains a top priority among voters.

Why it matters: If Trump wins re-election, it will largely be because Americans see him as the force rallying a still-strong U.S. economy, a narrative girded by skyrocketing stock prices and consistently climbing U.S. home values — but the man behind booming U.S. asset prices is really Federal Reserve chair Jerome Powell.