Audible is one of the world’s biggest sources for audiobooks. And because the market for audiobooks has seen an explosive grow over the past few years, let’s take a closer look on how you yourself can make money using only your voice.
Audible offers many services to help you make money from your audiobooks and podcasts. The platform itself is owned by Amazon and offers over 3 million audiobooks for you to choose from. From new fresh releases to beloved classics
Although there are other audiobook distributors like Google Play and iTunes, Audible has amassed a greater amount of professionals and celebrities for their narrations, which keep users coming back every month.
This site offers you many different ways to earn money, including referrals, affiliate marketing, and your own audiobooks and audio based entertainment. If you want, you can even narrate works of other people and earn money that way.
No matter which way you choose, Audible can be an absolute gold mine, and if you’re ready to learn how to make the most out of it, then read on and discover the many ways how to earn money on Audible.
Can you really make a living solely from Audible?
Yes, it is possible not only to make money, but to make a living on Audible. Although royalties on Audiobooks aren’t as high as eBooks, you can still earn more than enough if you use the right strategy.
Whether you’re an artist, voice actor, writer, or you just want to earn some monery on the side, Audible can be a gold mine rady just for you. You have several monetization methods at your disposal, so you can create the type of content you want to make.
Of course, the amount of money you make depends on how much work you put in and how well you plan and execute your strategy.
As with basically anything else on the internet, earning money on Audible is going to take a lot of hard work, and you might put in a lot of work before seeing any real results. But if you stay on the path and put in enough hard work, you will start seeing results
But before you start earning anything from Audible, you must first understand how it really work.
Audible has a self-publishing platform, Audiobook Creation Exchange (ACX).
This is basically a workshop area where you create your audiobook and publish it and then it goes on to Audible.
What Is Audible Self-Publishing Platform?
Audiobook Creation Exchange or ACX Audible’s self-publishing platform. Getting started on ACX is easy. Creators can simply sign up, claim their book, fill out the details, and upload the files.
ACX also offers the following services:
- Matching services for authors and narrators
- Quality control and approval of audio quality prior to sale
- Delivery of the book to Audible, Amazon, and Apple Store
- Calculation and payment of book royalties
Best Ways to Make Money on Audible
But now, let’s look at the different ways you can actually earn money with Audible
1) Create Audiobooks
If you are someone with a creative mind and a lot of free time on your hands, you might want to start creating your own books and narrate them.
You can either create and record everything yourself, or, if you’re woried that you might not be good enough, you can hire a proffesional to do it for you. Some people have the time, but no money, so it’s better for them to do everything themselves
However, if you have no time but enough money, you can simply find a narrator you like by listening to auditions on ACX and then enlisting the narrator’s help to record and upload the audiobook. The cost of professional narration depends on the length of your audiobook but can range between $100 – $300 per finished hour.
Tip: Some platforms like ACX have the option to offer narrators royalties in exchange for a reduced upfront fee. This is a great option for you if you want to get your audiobook out there, but don’t have the money to invest in it upfront.
5 steps to making an audiobook
Step 1: Find a Profitable Keyword
First, you’ll need to find what book is/will be about, but if you have no idea where to start, it’s good to at least find a keyword. For example, if you’re into fitness, you might want to write a book about something like “workout” or “healthy lifestyle”.
If it’s something that is interests a lot of people, or is searched on the interned enought, then you’re good to go. With the right keyword, you are setting a solid foundation for selling your work on Audible.
Step 2: Write your book/hire a ghostwriter
If you have a creative mind or enough idead, you can write the book all by yourself. But if you think that your writing talents aren’t good enough, you can always hire a ghostwriter. Ousorcing your workmight be really benefitial if you just don’t have the time to spare. You can find many talented ghostwriters on sites like Fiverr and ProBlogger
Step 3: Create a Cover
If you have some experience in graphic design, then you can create your book cover yourself. For those without the required skills, simply hire someone from one of the freelance marketplaces mentioned above, and they’ll be able to create your book cover for you for just a few dollars.
Step 4: Narrate your book/Hire a Narrator
Again, if you have the skills to do this yourself, then go ahead and get started narrating your book. But, if your voice isn’t up to par, you can hire a narrator to do it for you. Amazon makes it easy to do this through their platform – not Audible, but ACX, where you’ll find a huge catalog of experienced narrators to choose from.
Simply find the appropriate category and use filters like male/female, language, accent, etc. to help you pick the right narrator. Listen to some of their sample work or ask them to audition for narrating your book, and then you can decide if they’re the right fit. Message them and work out a deal for narrating your audiobook. You can expect to pay about $100 – $300 PFH (per finished hour) for your audiobook
Step 5: Publish on Audible and Promote
Once your book has been narrated, the final step is to publish it on Audible and then start promoting it.
ACX provides you with 50 promotional codes that you can give to friends and family so they can download your book for free. A download counts as a sale, and the more sales you get, the higher your book ranks on Audible, which leads to more (real) sales.
You can also promote your book on your blog, YouTube channel, podcast, social media pages, email, or anywhere else you can get your work out there and build up an audience.
Tip: Since making audiobooks can take a fair amount of time, you might be interested in ways to earn some passive income to give yourself a small safety net
2) Affiliate Marketing
Becoming an affiliate is one of the easiest ways to make money on Audible. Affiliate marketing involves promoting other people’s products or services to your audience whether it’s on your blog, social media, email, etc.
If people decide to enter the free trial from your link, you’ll get paid. If you have a sizeable audience, this can result in a healthy income.
To get started, simply go to Audible’s website and sign up as an affiliate. You will be provided with an affiliate link that you can add to your content. Audible offers a free 30-day trial that comes with a free audiobook, which could be an Audible original or one of the classics.
The trial user can cancel their subscription after 30 days if they choose it’s not for them. Otherwise, if they decide to stay, they can upgrade their monthly plan.
Pricing for subscriptions is as follows:
- Audible Plus – $7.95/month: Includes thousands of best-sellers, originals, podcasts, and more.
- Audible Premium Plus – $14.95/month: Includes 1 credit/month for premium selection titles + the Plus Catalog.
If you’re interested in more credits, or if you want the annual plan, there are additional plans to choose from, ranging from $22.95/month for two credits to $229.50/year for up to 24 credits per month.
Tips to Help You Succeed as an Audible Affiliate:
- Provide Value to your Listeners: Because Audible is the leading audio and digital book provider, it is also the perfect sponsor that alligns with your listeners’ interests. You will definitelly find great options for your viewers/readers/listeners, since there are millions of books to choose from
- Offer Your Audience a Free Audiobook: Everyone loves getting free stuff. The 30-day free trial membership helps you get more conversions by allowing you to offer relevant books to readers for free. It’s not hard to guide people to use it, you can easily write about it on your blog, or post a video with the link on your other social media account. For example, you might write articles on your blog, mention books on your podcast, or create book reviews on YouTube and then tell your audience if they enjoyed it, they can listen for free at Audible. Don’t forget to add your affiliate link.
- Make Money without Selling: You don’t need to sell anything if you’re just referring them to the free stuff. You really only have to mention it and include your custom URL, which directs them to the landing page of the free trial. Not only will you be providing people with things they want, but you’ll also be able to generate passive income for yourself
3) Sell Audible Products and Services
You don’t have to sell just Audiobooks. You may also sell some other Audible products and then get paid for those as well.
The best part is that you don’t need to promote anything. Simply create your own account, record the product or service in your own voice and upload it to the platform. You’ll then receive a commission for each sale made.
4) Become a Narrator
Narrating other people’s work is yet another profitable way to earn money on Audible. To become an audiobook narrator, all you have to do is sign up on ACX, create a profile, and you can start offering your talent for reading out loud.
You can be sure there won’t be a shortage of work, since research shows that over 2,700 books are published every single day. There are also many genres you can narrate books in. To get started on the platform, first, create your profile and upload some samples of your work.
You can then start selecting books that you are interested in narrating and provide auditions for each one. If the author chooses you, you’ll be able to negotiate a fair price, after which you can get started recording the manuscript.
Narrators can make money in 3 ways:
- Per-Finished-Hour (PFH): Receive a flat rate fee for the entire book
- Royalty Share: Split royalties with the book rights holder or author
- Royalty Share Plus: This is a combination of both PFH and royalty share
If you wish to become an experienced narrator on Audible, then you can expect to make between $500 to $5,000 per month. The price can be different for everyone, because it depends on the book’s topic and lenght (and the narrator’s performance, of course).
Another way to make money by narrating books is to find successful books in different genres and then convert them into audiobooks. You’ll still get paid every time the book sells. Whichever way you choose, when narrating audiobooks, there are some best practices to follow if you want to be successful.
Best Practices for Successful Audiobook Narration
- Invest in the Right Equipment: You need the right type of mic in order to improve the quality of your audiobooks. If someone’s going to spend hours listening to your book, the last thing you need is to be hearing echoes or background noise, so make sure you have the right gear before you start.
- Read Standing Up: When narrating your book, always do it standing up. This ensures that you open your diaphragm which increases sound quality. Also, make sure that you have good posture. Keep your shoulders back, relax, and breathe deeply when reading.
- Avoid Coffee and Milk Products: Coffee will dry out your mouth and milk products like cheese will give you phlegm. Instead, drink a glass of water about thirty minutes before you start recording.
And even though this is already an excellent way to earn money, you can make it even better by turning it into passive income. But how can we do that? When you narrate books, you don’t have to be paid just upfront. You can choose to be paid in royalties, so you get paid even after you finish narrating. The more books you narrate this way, the more passive income you’ll have for the future.
Tip: If you’re a parent (especially a mother), you might also be interested in this article about the differences between freelancing and employment
3 Tips to Earn the Most Money on Audible
Now you see that making money on Audible isn’t actually that hard. But there’s a difference between earning some side money and earning a full-time living income. But, with the right strategy, even you can afford a living with Audible
Here are some tips to help you start earning more on Audible.
1) Choose a Profitable Niche
One of the best ways to ensure that you create a consistent income on the platform is to choose a profitable niche. This can be something you’re passionate about, but it also needs to be something others are interested in so you can make more sales as a creator on the platform.
Tip: Remember that not everything can be made into an audiobook. For example, if you’re interested cookbooks, that still doesn’t mean you’ll find many sales. People would rather look at the pictures and have the whole recipe open, rather than listen to your describtion.
2) Partner with Brands and Influencers
A great way to increase your income is partnering with other companies, so that you can maximize your possible reach. For example, you could partner with libraries and bookstores to help with marketing, or you might want some influencer to recommend your product to their audience.
3) Sell Through ACX
To make the most out of your Audible bussiness, be sure to use ACX as your platform for selling. With it, you’ll be able to sell exclusively on Audible, but also on iTunes and Amazon. With this exlusive route, you’ll earn 40% of the royalties.
If you choose the non-exclusive route, where you can sell your audiobooks on any other platform, you’ll only receive 25% of the royalties. Also, when using this option, you can’t split your royalties with the producer.
Summing Things Up
As you can see, it’s possible to make money on Audible effortlessly. You just need to have the right strategy in place to ensure that over time, you’re able to replace your income with passive income from audiobooks, affiliate marketing, or narration.
The best thing about all of this is that Audible is still relatively new, so you won’t have that much competition and still be able to get into the few ones that can actually make a living using only your voice.
So, what are you waiting for? Use this article to start earning with Audible today.
