How to Make Money on Audible: 7 Proven Strategies
The world of audiobooks is booming, and with Audible at the forefront of this industry, there are ample opportunities for creatives to profit from their storytelling skills. Whether you’re an author looking to narrate your own work or a voice artist seeking new projects, this article will provide a comprehensive overview of making money on Audible.
We’ll explore the platform’s various revenue streams, auditioning processes, and tips for creating high-quality audio content that captivates listeners.
Audible Profits: Making Money Made Easy
1. Audiobook Narration
One of the most popular ways to make money on Audible is by becoming an audiobook narrator. You can do this by signing up on the Audiobook Creation Exchange (ACX), a platform owned by Audible that connects authors, narrators, and producers.
To get started, you’ll need to create a profile, upload samples of your work, and audition for projects.
There are three primary methods for narrators to generate income on Audible, each with its own advantages and payment structures:
- Per Finished Hour (PFH) – In this model, narrators receive a predetermined amount for narrating the entire book. This rate is agreed upon before starting the project and is typically based on the experience and skills of the narrator.
- Royalty Share – In a Royalty Share arrangement, narrators split royalties with the book author or rights holder. This means that both parties will receive a percentage of the audiobook’s sales, incentivizing narrators to produce high-quality work that appeals to listeners.
- Royalty Share Plus – This hybrid payment scheme combines aspects of both Per Finished Hour and Royalty Share. Narrators receive a fixed amount for narrating the book as well as a portion of the royalties from sales. This arrangement offers a balance between guaranteed payment and potential long-term earnings.
The average monthly earnings for narrating books on Audible can range from $500 to $5,000, but this amount can vary greatly depending on factors such as the audiobook’s subject matter, length, and the narrator’s performance quality.
2. Audiobook Production
If you have experience in audio engineering, you can offer your services as an audiobook producer on ACX. In this role, you’ll be responsible for editing, mixing, and mastering the audio files to meet Audible’s quality standards. You can charge a per-finished-hour rate for your services, which can vary depending on your experience and the complexity of the project.
To get started, create a profile on ACX, upload samples of your work, and apply for projects that require your skill set.
3. Audiobook Authoring
If you’re an author, you can make money on Audible by turning your written content into audiobooks. You can either narrate the audiobook yourself or hire a narrator and producer through ACX. Once your audiobook is produced, submit it to Audible for distribution. You’ll earn royalties based on the number of sales or listens through Audible’s membership program.
4. Ghostwriting Audiobooks
Ghostwriting audiobooks is another excellent avenue for generating income on Audible. As a ghostwriter, authors or publishers will hire you to create content for an audiobook, which may involve conducting research, developing a storyline, and writing a manuscript.
Additionally, you might be hired as an editor to adapt existing eBooks for the audiobook format, ensuring that dialogue and audio cues work effectively in an auditory setting. To secure ghostwriting jobs, market yourself effectively by showcasing your work on freelance websites, job boards, social media networks, and more.
5. Affiliate Marketing
You can join the Audible affiliate program (Audible Creator Program) and promote Audible products on your website, blog, or social media platforms. Each time a new user signs up for an Audible trial or membership through your unique affiliate link, you’ll receive a $15 commission for each trial you generate.
To maximize your earnings through the Audible Affiliate Program, sign up, create promotional links, and share them across various platforms. Here are a few suggestions for expanding your reach:
- Share your links on social media platforms such as Facebook, Twitter, and YouTube
- Integrate your links or banner advertisements into your blog or website
- Inform friends, family, and colleagues about your affiliate links
- Promote your links on podcasts and other promotional platforms to reach a wider audience
To be successful, you’ll need to create engaging content that targets your audience’s interests and encourages them to try Audible.
6. Content Bundling
If you have multiple audiobooks or related content, consider bundling them together as a package. This can increase the perceived value of your products and encourage potential customers to purchase the bundle instead of individual titles. You can create a series or a collection of related content, making it more appealing for listeners to buy your bundled audiobooks. This strategy can help boost your overall sales and royalties on the platform.
7. Collaborating with Publishers as An Influencer
Collaborating with publishers as an influencer can also be lucrative. If you have an established platform, such as a blog or social media presence, you can work with publishers and authors to promote their audiobooks through reviews, giveaways, interviews, and more. Consider creating a podcast to feature various book titles, attracting attention and driving sales.
In this way, you need to reach out to publishers and authors directly, negotiate a fee for your promotional services, and establish affiliate links to earn a commission from each sale generated through your platform.
Monetizing your storytelling skills on Audible involves a variety of revenue streams and opportunities for both authors and narrators. Ultimately, the income you generate on Audible is contingent on various factors, and there is no definitive amount that you are guaranteed to earn. However, by consistently producing high-quality audiobooks that captivate a broad audience and implementing effective promotional strategies, you can potentially generate substantial revenue through the platform.