Have you ever thought about how to make money on Audible? Well, guess what? It’s not as out of reach as you might think!
Making money on Audible is all the rage these days, and you don’t need to be a superstar author or a celebrity narrator to get in on the action.
Audible isn’t just about listening to your favorite books; it’s also a golden opportunity for you to earn some extra cash. Yep, you heard it right, you can make money on Audible.
Whether you’re a bookworm, a marketer, or just someone with a great voice, Audible has something for you.
In this journey, we’re going to explore different ways to make money on Audible. From clever referrals to savvy affiliate marketing, creating your audiobooks, or lending your voice to exciting stories – it’s all fair game.
So, if you want to learn making money on Audible, stick around because this is going to be fun and profitable!
What Is Audible?
Audible is an Amazon-owned platform well-known for its extensive collection of audiobooks, podcasts, original content, and more. It is a famous audiobook platform with a significant 65% share of the U.S. audiobook publishing market.
Audiobooks allow book enthusiasts to enjoy literature through listening instead of reading. A skilled narrator recites the book’s contents by ensuring you don’t miss any context. You can enjoy listening to audiobooks during household tasks, workouts, or commutes.
Purchasing books on Audible doesn’t require a membership. However, choosing an Audible membership plan gives you a considerably larger content selection.
Now, let us see if you can really earn money from Audible.
What is Audiobook Creation Exchange (ACX)
Audiobook Creation Exchange (ACX) is Audible’s platform for audiobook production and distribution. It facilitates collaboration between authors, narrators, publishers, producers, and recording studios.
If you’re an author, then you can use ACX to sell your audiobook titles. And, if you’re a narrator, then you can use ACX as a job marketplace where you can grab voice-acting projects.
Audiobook Creation Exchange offers a wide range of services such as:
- It ensures audio quality meets standards before release
- Royalty calculation for books and payout management
- It allows the pairing of authors and narrators with services
- Delivers the audiobook to Audible, Amazon, and the Apple Store.
How To Money On Audible
These are the 6 best ways to make money on Audible. Let us look at them one by one:
1. Create Audiobooks
First things first, if you have a creative and artistic mindset, there’s an opportunity for you to generate income on the platform by crafting your own audiobook.
You have the freedom to create audiobooks on virtually any topic that ranges from fiction to non-fiction & everything in between. Audible likely has a category for whatever niche you’re interested in.
The key is to choose a subject that captures people’s interest, has a reasonable monthly search volume, and faces limited competition. A profitable keyword sets a strong foundation for success in selling audiobooks on Audible.
When it comes to producing your audiobook, you have two options. If you have the time and minimal budget constraints, you can write, record, and edit the content yourself.
On the other hand, if your budget allows, you can select a narrator by listening to auditions on ACX and enlisting their assistance in recording & uploading the audiobook.
Professional narration costs vary based on the audiobook’s length, typically ranging from $100 to $300 per finished hour.
Once your audiobook is narrated, the final step involves publishing it on Audible and initiating your promotional efforts. Most audiobooks on Audible are priced between $15 and $25 each.
2. Affiliate Marketing
Affiliate marketing promotes other people’s products or services to your audience through channels like your blog, social media, or email.
If your efforts lead to a sale, you receive a commission, which can gradually build into a substantial source of passive income.
You can simply visit Audible’s website and register as an affiliate. After that, you’ll receive a unique affiliate link that you can incorporate into your content.
The 30-day free trial membership enhances your conversion potential and offers relevant books to your readers at no cost.
You can guide them towards the perfect book selections on your blog or social media channels. Also, you need to highlight the Audible free trial and insert your custom URL to direct your visitors to the free trial landing page.
Audible free 30-day trial includes a free audiobook, whether an Audible original or a classic.
You’re offered a $15 commission for each trial generated through your link.
3. Amazon Associates Program
The Amazon Associates Program functions as an affiliate marketing initiative that enables website owners to generate commissions by promoting Amazon’s diverse range of products and services.
Since Amazon is the parent company of Audible, you can also leverage the program to secure commissions on the Audible platform.
Amazon Associates Program empowers you to guide your website visitors to Amazon.com, where they can access Audible products & memberships. Your earnings are derived from Bounties or fixed advertising fees.
Associates receive a Bounty for each qualifying purchase on Amazon.com, which includes $10 for an Audible Gold Digital Membership, $5 for an Audible Free Trial Membership, $0.50 for an Audible Audiobook, and $0.50 for A La Carte Sale.
Amazon gives you a commission after 60 days after each month.
4. Selling Audible Products & Services
The best thing I like about this method is that you don’t need to follow any promotions.
Simply establish your account, record the product or service in your voice, and upload it to the platform. Consequently, you’ll earn a commission for every sale.
You can offer audio versions of books, eBooks, or other products and services through this platform.
5. Becoming A Narrator
Regardless of whether your voice is sharp, baritone, or falls somewhere in between, there’s a niche waiting for your unique tone.
If you want to ensure a seamless and uninterrupted narration, you should focus on controlling your breathing and avoid any mid-sentence fading or gasping.
Audible is the foremost audiobook platform attracting numerous authors seeking collaborations with narrators. While experienced narrators are in high demand, aspiring artists can also uncover numerous opportunities on this platform.
Your earnings typically include a flat rate fee per hour of the finished recording, which typically equals around 9,000 words. Additionally, you share royalties with the book’s author or rights holder, and there’s also a fixed amount allocated for the narration itself, along with royalty shares.
6. Audible Podcast Development Program
Audible Podcast development program is another method to make money.
The platform offers a program that provides $10,000 to talented podcasters with promising concepts.
If you have an exceptional idea for an original narrative podcast, you can pitch it to Audible.
And, if Audible is enthusiastic about your podcast proposal, they will grant you a $10,000 grant to facilitate your podcast’s development, production, and publication on their platform.
Tips To Earn More Money On Audible
Audible provides earning opportunities for everyone, but only a select few attain the highest earnings on the site.
You may also generate a steady full-time income with Audible if you use the right method.
1. Select A Profitable Niche
If you want to establish a dependable income on the platform, you need to select a niche with promising potential.
While it can be a subject of personal passion, it’s equally important that it captures the interest of others to maximize your sales as a content creator.
Creating a book and subsequently converting it into an audiobook demands a significant time investment, so you need commitment.
You need to exercise caution when choosing topics. Avoid those topics that typically don’t perform well in audiobook format, such as cooking, baking, painting, and similar subjects.
2. Collaborate With Brands & Influential Figures
You can collaborate with other enterprises to promote your latest releases. You can also partner with online retailers, libraries, and similar entities and request them to promote your books to their audience.
In return, you can reciprocate by endorsing these online businesses and libraries to your own followers.
You can collaborate with online influencers to attract potential customers. However, remember that influencer marketing on social platforms can be costly. Therefore, it is crucial to calculate your startup expenses accordingly.
3. Use ACX For Sales
If you want to maximize your earnings on Audible, you can distribute your audiobooks through ACX. This allows you to sell your audiobooks on Amazon, iTunes, and Audible, granting you a 40% share of the royalties.
If you opt for the non-exclusive path and sell your audiobooks on other platforms, then you’ll receive a reduced 25% share of the royalties.
4. Cultivate Your Unique Following
If you want to succeed while selling on a third-party platform, you need to establish your dedicated audience.
5. Expand & Broaden Your Offerings As You Progress
Starting your audiobook journey with Amazon and ACX is a wise choice, but alternative audiobook platforms exist where you can market your works.
As your audiobook collection expands and you establish a consistent income flow through ACX, you can consider diversifying it by including and promoting your books on additional platforms like Scribd, Blinkist (for non-fiction titles), or Audiobooks.com.
FAQs (Frequently Asked Questions) On Making Money On Audible
1. Can you really make money with Audible?
Yes, you can definitely make money with Audible. You can follow various methods to earn money, such as creating audiobooks, affiliate marketing, using the Amazon Associates Program, selling Audible products, becoming a narrator, and using the Audible Podcasts Development Program.
2. How much money does Audible pay?
Audible compensates authors with a royalty rate of 25% for audiobooks, while those who opt for an exclusivity contract can receive a higher rate of 40%.
3. How much does Audible pay narrators?
Audible ACX narrators earn $10-$100 for beginners and $100-$500 for professionals.
4. Name the top audible accounts with the highest earnings.
Here are the top audible accounts with the highest earnings:
- Knowledge by Marcus
- Paula Hawkins
- George Guidall
Final Thoughts On Making Money On Audible
Audible is a vast platform with high earning potential. But, making substantial money on Audible may take time. You need to be consistent and persistent in producing quality content.
Creating audiobooks is not the sole route to generate income on Audible. You can also try other methods such as affiliate marketing, the Amazon Associates Program, the Audible Podcast Development Program, selling Audible products, and becoming a narrator.
The most important thing is to develop a well-planned strategy that can replace your existing income with passive earnings from audiobooks, affiliate marketing efforts, or narration work.