How to Make Money on Audible in 2023
Audible has become the world’s largest seller and producer of audiobooks, with millions of titles available. And where there is a platform with huge reach, there are also money-making opportunities.
In this post, we’ll explore unique ways authors, narrators, reviewers, and entrepreneurs can earn income through Audible. Whether you want to publish your book as an audiobook or offer production services, Audible provides multiple avenues to profit if you understand the platform.
Let’s dive into the top methods for making money on Audible!
Publish Your Own Audiobooks
The most straightforward way to make money on Audible is by publishing your own audiobooks through ACX (Audiobook Creation Exchange). This platform connects authors with producers and narrators to turn books into audio.
Once published on Audible via ACX, you earn royalties on each audiobook sale. The process includes:
- Upload your book manuscript to ACX.
- Select a narrator or produce the audiobook yourself.
- Schedule and record the audiobook.
- Add necessary metadata.
- Get the completed file approved by Audible.
Tips for maximizing audiobook royalties:
- Choose compelling book topics and genres with audience demand.
- Hire experienced narrators who bring stories to life.
- Price audiobook competitively but profitably.
- Market your audiobook through your blog, social media, etc.
- Publish additional related audiobooks to increase royalties.
Publishing your book as an audiobook taps into Audible’s built-in audience of millions of book lovers. With the right topic and promotion, it can generate great passive income.
Earn Audiobook Royalties
When your audiobook is sold on Audible, you earn royalty payments based on length and price.
For exclusive titles only sold on Audible, royalty rates are:
- Under 10 hours – 40% of list price
- 10-20 hours – 50% of list price
- Over 20 hours – 60% of list price
For non-exclusive titles, royalty rates are 25% across all lengths.
Maximizing your royalties involves:
- Pricing competitively but high enough to receive substantial royalties.
- Promoting your audiobook to increase sales.
- Utilizing Audible promotions and sales periods.
- Expanding your catalog with additional book titles over time.
Audiobooks allow you to keep earning royalties indefinitely, even if a book is no longer new. With enough titles, steady passive income can be built over time.
Produce Audiobooks for Others
If you have voice acting or audio production skills, you can earn money on Audible by producing audiobooks for other authors. Here’s how it works:
- Browse ACX listing of audiobook projects requesting narrator bids
- Submit an audition sample and quote for projects that interest you
- Complete accepted productions and earn a flat fee upon completion
- Some royalty share agreements also available
Tips for succeeding with ACX:
- Have clear audio recording equipment and a professional studio space.
- Hone your vocal skills and narration abilities.
- Specialize in a genre you like performing best.
- Build a reputation for delivering quality projects on time.
- Market your services directly to authors as well.
Audiobook narration leverages specialized skills like clear articulation and the ability to “act out” stories with your voice. But for pros, ACX provides a steady stream of paid projects.
Sell Audible Reviews
Through the Audible Vine Voice program, reviewers can earn free audiobooks in exchange for publishing honest reviews.
As a Vine Voice, you get:
- Access to unreleased audiobooks before publication.
- Must publish a review on Audible within 14 days.
- Get to keep the free advanced copy.
- Disclosure rules require identifying product was received for review.
Pros of paid review programs:
- Get free audiobooks relevant to your interests.
- Develop a following and reputation as a quality reviewer.
- Exposure for your own books or author services.
Cons to weigh:
- Time commitment to listen to books carefully and craft reviews.
- Potential appearance of bias being paid in free product.
- Reviews restricted from selling/giving away advanced copy.
For avid audiobook lovers, Vine Voice provides advance access to new titles if you follow program terms.
Monetize an Audiobook Blog or Podcast
If you have an existing website, blog, or podcast with an audience, you can integrate Audible to earn affiliate commissions on audiobook sales.
Simply join the Audible affiliate program, add your affiliate links to reviews or recommendations, and receive a bounty when users buy audiobooks through your link.
You can also publish related audiobook content and include your books in your promotions and recommendations seamlessly. Driving your own audiobook sales through your platform is encouraged by Audible.
Create Audible Courses or Lectures
Audible allows authors and experts to publish educational audiobooks focused on delivering value to listeners.
For entrepreneurs and thought leaders, benefits include:
- Share your knowledge in a new format.
- Establish expertise and authority.
- Build an audience through Audible’s platform.
- Generate royalties from audiobook sales.
People love listening to impactful talks, lectures, interviews and coaching focused on self-improvement. Craft compelling educational content around your niche and distribute it through Audible.
Conclusion
Whether you’re an author, voice talent, podcaster, or expert, Audible offers multiple ways to make money by leveraging audiobook creation opportunities.
Take advantage of Audible’s built-in base of book lovers by publishing your own audiobooks or assisting others in production. Maximize distribution and royalties through marketing and promotions.
For avid listeners, programs like Vine Voice provide free audiobooks to review. And educators can build authority and revenues by creating life-changing educational audio.
With the right skills and strategy tailored to your strengths, Audible can become a lucrative channel for expanding your reach and earning substantial income.
What tips do you have for making money on Audible? What opportunities appeal to you most? Let me know in the comments!
