The specifics of selling audiobooks are essential to the market dynamics. Audiobooks are popular due to their convenience and the ability to multitask while listening. People enjoy audiobooks while commuting, exercising, or performing household chores. The proliferation of smartphones, smart speakers, and streaming services has made it easier for listeners to access audiobooks anytime, anywhere.

Self-publishing your audiobook

The most direct way to make money by selling audiobooks is through self-publishing. With the advent of platforms like Amazon’s Audible Creation Exchange (ACX), authors produce and distribute their audiobooks without the involvement of traditional publishers.

  • Prepare your book– Start by editing your book, formatting it, and preparing it for audio production. This includes obtaining the necessary rights and permissions for any copyrighted material used in the book.
  • Hire a narrator– Either narrates the book yourself or hire a professional narrator. ACX provides a marketplace where you audition and hire narrators, offering various payment options, such as a royalty share or a per-finished-hour rate.
  • Produce the audiobook– Once you’ve selected a narrator, you begin the production process. This involves recording, editing, and mastering the audiobook file according to the platform’s specifications.
  • Distribute and market– After the production, you upload your audiobook to ACX and other distribution platforms like Apple Books, Google Play, and Audiobooks.com. Leverage social media, email marketing, and other promotional channels to market your audiobook effectively.

Partnering with audiobook publishers

If self-publishing Linkedin pulse article seems daunting or you prefer a more traditional approach, you explore partnerships with audiobook publishers. These publishers handle your audiobook’s production, distribution, and marketing, allowing you to focus on the writing aspect. However, remember that publishers typically take a larger share of the royalties than self-publishing. You must submit a proposal or manuscript for consideration to partner with an audiobook publisher. Publishers evaluate the potential market for your book and decide whether to acquire the audio rights. If accepted, they’ll handle the production process, including hiring narrators, editing, and mastering audiobooks.

Leveraging subscription services

Subscription services like Audible, Scribd, and Storytel have revolutionized how people consume audiobooks. These platforms offer listeners access to a vast library of audiobooks for a monthly subscription fee. As an author or publisher, your audiobooks are available on these services and earn royalties based on the listening time or number of completed listens.

To have your audiobook featured on subscription services, you must work with an aggregator or distributor with established relationships with these platforms. These intermediaries handle the technical aspects of uploading and distributing your audiobook to meet the specific requirements of each service.

 Audiobook merchandising and bundling

Generate revenue from your audiobooks is through merchandising and bundling. You create physical products, such as branded merchandise (e.g., t-shirts, mugs, or tote bags) featuring your audiobook cover or characters. These items are sold alongside the audiobook, creating an additional revenue stream. The audiobook with other products or services, such as ebooks, paperbacks, or online courses related to the book’s topic. This approach increases the perceived value of your offering and provides customers with a more comprehensive experience.