The audiobook market is growing rapidly, gaining popularity as more people opt for the convenience of listening to books rather than reading them.
Audiobooks have started to take big chunks of market share from eBooks and paperbacks, with Audible dominating the market.
Many people are cashing in with this paradigm shift, and even earning multiple 6 figure incomes.
So if you want to learn how to make money publishing audiobooks on Audible, and create passive income, keep on a reading..
What Is Audible?
Audible is a leading platform in the audiobook industry, offering a vast library of audiobooks, podcasts, and other audio content.
Owned by Amazon, Audible provides users with an easy and convenient way to enjoy books in audio format, making it popular among readers who prefer to listen to stories and information on the go.
Whether you’re commuting, working out, or doing household chores, Audible allows you to immerse yourself in a book without having to hold a physical copy or screen.
Audible operates on a subscription model, giving members access to monthly credits that can be exchanged for audiobooks, as well as exclusive content, Audible Originals, and podcasts.
Audible’s library includes a wide range of genres, from fiction and self-help to biographies and children’s books, making it suitable for all types of listeners.
As the biggest player in the audiobook space, Audible has become a go-to source for audiobook enthusiasts, supporting both casual listening and in-depth engagement with literature.
Through Audible’s platform, many creators and publishers can also distribute their work, reaching a global audience in an audio-first format.
3 Ways To Make Money With Audible
There are three primary ways to make money on Audible, leveraging both its content and affiliate programs:
1. Narrate Audiobooks for Audible
If you have a good speaking voice and some basic recording equipment, you can make money by narrating audiobooks for Audible.
Audible has a platform called ACX (Audiobook Creation Exchange) where authors and publishers look for voice talent to narrate their books.
Narrators can get paid in three ways:
A one-time payment – You can choose to set a rate per-finished-hour of audio to be paid upon completion of the project.
A royalty share – where you earn a percentage of each audiobook sale.
A hybrid model – You receive a lower per-finished-hour rate in addition to splitting royalties.
Royalty shares can be profitable in the long term if the book becomes popular, allowing narrators to earn ongoing income from the sales of the audiobook, for up to 7 years.
2. Create and Publish Your Own Audiobooks
If you’re an author, you can make money on Audible by publishing your own audiobooks.
Through ACX, authors can convert their written books into audiobooks and reach Audible’s extensive audience.
By publishing an audiobook, you not only tap into a new audience but also add a potential revenue stream to your book sales.
Authors earn royalties on each sale, with rates depending on whether they choose exclusive or non-exclusive distribution on Audible.
This is an excellent opportunity for authors to increase their passive income, especially if they already have a fan base interested in audio content.
3. Promote Audible as an Affiliate
Another way to make money with Audible is through their affiliate program.
By promoting Audible on your blog, website, or social media, you can earn commissions on new Audible sign-ups.
Audible’s affiliate program offers payouts for every free trial sign-up generated through your affiliate links, making it especially lucrative if you have an audience interested in audiobooks or learning content.
This approach is ideal for bloggers, influencers, and content creators who can integrate Audible promotions into relevant content, such as book reviews, lifestyle blogs, or educational websites.
How To Start A Profitable Audiobook Publishing Business
As you can now see there are a few ways to make money with Audible, however, in the rest of this article we are going to focus on showing you how to make money publishing Audiobooks on Audible.
Why Audiobooks Are a Great Business Opportunity
The audiobook industry is exploding, and many people are making substantial incomes by publishing audiobooks.
Audiobook sales on Audible typically generate between $1 and $6 or more per unit sold, with some publishers earning thousands of dollars monthly.
As an example; Sean Dollwet has sold over 100,000 audiobooks and has made multiple 6 figures through this opportunity.
Getting started
Here’s a step-by-step guide on how you can start a profitable audiobook publishing business on Audible, even if you’re not an author or narrator.
Audible, Amazon and ACX
Audible, Amazon Kindle and ACX work in conjunction with one another, so you will need accounts at all three of these platforms.
If you live in the US, UK, Canada, or Ireland, you can directly upload audiobooks on Audible through ACX, which presents a unique opportunity with relatively low competition.
For those outside these regions, a workaround using platforms like Findaway Voices enables global participation, which can distribute your audiobooks to various other retailers, including Spotify and iTunes.
Step 1: Choosing a Profitable Topic
Start by selecting a topic for your audiobook. Think of subjects related to your interests, hobbies, or knowledge.
Popular audiobook topics range widely, and list-style books, such as collections of trivia or step-by-step guides, are particularly successful.
To determine the market potential:
Research on Audible: Search for your topic and check if similar books have high ratings and numerous reviews, which indicate strong sales.
Using Tools: Paid tools like Book Beam can estimate potential earnings, but you can also use the Best Sellers Rank (BSR) on Amazon as a gauge. For example, books with a BSR under 40,000 generally sell well, while lower BSRs are even better.
Step 2: Creating Your Audiobook Content
Now that you have a topic, it’s time to create your content. You’ll need a manuscript, cover, and a narrator to bring your book to life.
Creating the Manuscript
You have several options for generating the manuscript:
Write It Yourself: If you have knowledge about the topic, writing yourself ensures originality.
Use ChatGPT for Ideas: AI tools can help kickstart the process, particularly for list-based books or trivia collections. ChatGPT can provide title suggestions, outline ideas, and even trivia questions for different chapters. However, remember to modify and fact-check the content to maintain originality.
Hire a Ghostwriter: Platforms like The Urban Writers offer ghostwriting services, where experienced writers can develop high-quality content based on your ideas.
Designing a Book Cover
A professional cover is essential to capture readers’ attention. You can create one on Canva or hire a designer on Fiverr, where services typically cost $10 to $35.
Choose a design that aligns with the genre and theme of your audiobook.
Step 3: Publishing Your eBook on Amazon
Before you can upload an audiobook to ACX, you need to publish it as an eBook on Amazon’s Kindle Direct Publishing (KDP) platform.
Create a KDP Account: Sign up at kdp.amazon.com.
Upload Your eBook: Enter the book title, author name, keywords, and categories. Upload the manuscript and cover, then preview it to ensure it looks good.
Set the Price: Enroll in KDP Select if you want, which can increase visibility. Pricing isn’t crucial as the primary goal here is to qualify for Audible’s audiobook publishing.
Step 4: Converting Your eBook to an Audiobook on ACX
Once your eBook is live on Amazon, you can start the audiobook creation process on ACX.
Sign Up for ACX: Go to ACX and search for your published eBook title. Select it, and indicate that you’re looking for a narrator.
Choose Narration Options: You have two payment options—pay for production upfront or opt for a royalty split. Paying upfront allows you to keep 100% of royalties, while royalty sharing splits earnings with the narrator.
Listen to Auditions: ACX allows narrators to audition for your project. Select the voice that best matches your book’s tone, then allow the narrator time to complete the project.
Publish on Audible: After finalizing the narration, ACX will review and publish your audiobook on Audible, Amazon, and iTunes.
Step 5: Publishing Audiobooks from Outside ACX-Supported Countries
For those outside the US, UK, Canada, or Ireland, platforms like Findaway Voices enable you to publish on Audible and other platforms like Spotify, Google Play, and Apple Books.
This expands your reach beyond just Audible, tapping into diverse audiences worldwide.
Maximizing Your Audiobook Sales
Once your audiobook is live, you can continue publishing additional books to build a consistent stream of income.
Audiobooks are a form of passive income—once created, they can generate passive income indefinitely.
Successful publishers often release multiple titles, allowing their income to grow over time.
Alternative Ways You Can Earn Money
Home businesses to start for $50 or less: Turn-Key Home Businesses
Blogging: Start a blog
Love Music?: Get paid to listen to music
Get Paid To Make New Friends: Get paid to talk to people
Love Gaming?: Get paid to play video games
Photography: Get paid to take pictures
Conclusion
With minimal investment, you can launch a successful audiobook publishing business on Audible or other platforms, generating ongoing passive income.
Start by selecting a marketable topic, creating high-quality content, and leveraging tools like ChatGPT and Fiverr to streamline production.
With consistency and quality content, you can enjoy a profitable business in the rapidly growing audiobook market.
We really hope this article on How to Make Money Publishing Audiobooks on Audible has been extremely helpful to you.
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