Audible is the world’s largest retailer of audiobooks. With almost three decades in the industry, it’s hard to see a regular consumer of audiobooks that doesn’t use their service. More so, it’s the choice platform for most podcast hosts and book authors, and that is because of the mouth-watering earning offers they have available.
The best part is that you don’t necessarily need to be an author to make money with audible, even regular freelancers that produce content can get involved and start pulling cash within a short period. If you have been looking for a way to make money on Audible, you will want to read this article to the end. We will outline and guide you through three guaranteed methods to start earning with audible.
Method #1 Create an Audiobook
The best way to earn from any retailer is to create the products that they sell. Unlock your creativity and tap into the world of audiobooks by creating your own masterpiece for Audible. Whether your passion lies in fiction, non-fiction, or anything in between, the platform offers a market for your audiobook creation.
Thanks to the Audiobook Creation Exchange (ACX), a collaborative marketplace by Audible and Amazon, authors, publishers, and professional narrators can come together to bring your written words to life in audio format. If writing isn’t your forte, consider hiring a freelance writer to craft a compelling book on an intriguing subject matter.
If you already have audio files of your book, ACX simplifies the process of uploading your content to multiple retail channels, including Audible, Amazon, and iTunes. With various production earnings and cost models available, you can choose what suits you best. Furthermore, ACX provides resources for promoting your book once it’s available to the audience. Creating an audiobook is arguably the easiest way to earn money on Audible, and Amazon’s self-publishing platform as ACX guides you through the step-by-step process.
Before recording your audiobook, consider four key factors:
- Your narrating skills,
- Professional recording equipment,
- Technological requirements outlined by ACX,
- And the cost of hiring a narrator compared to investing your own time, labor, and equipment.
With Audible, Amazon, and iTunes as potential sales platforms, your audiobook has the potential to generate earnings ranging from $15 to $25 per sale. Although producing audiobooks requires effort, the financial rewards make it a venture worth considering for those with a creative eye.
Method #2 Become an Audiobook Narrator
For most full-time freelancers (especially with a voice talent) this is the best option, they should first consider it before anything else. Unleash your potential as an audiobook narrator and embark on a rewarding journey of bringing stories to life. ACX, the Audiobook Creation Exchange, provides a platform for narrators to showcase their talent and connect with authors seeking narration for their books.
To get started, create a compelling narrator profile on ACX, highlighting your experience and uploading voice samples to showcase your skills. With nearly 800 titles available for voice auditions, ACX offers a vast range of opportunities to narrate books across various genres.
Working as a narrator with Audible, you have three ways to earn money:
- Per-Finished-Hour (PFH): Receive a flat rate payment for the entire duration of the audiobook. Setting your PFH rate is essential, considering factors such as the topic, length, and expertise. On average, experienced narrators can earn between $50 to $250 PFH.
- Royalty Share: Opt for a royalty share agreement where you split the book’s royalties with the author or rights holder. Royalties come from sales on Audible, iTunes, and Amazon. Audible offers a 20% to 40% cut of the royalties, which is divided equally between the author and the narrator. The percentage depends on whether the author chooses exclusive or non-exclusive distribution rights.
- Royalty Share Plus: This option combines a reduced PFH rate with a lower percentage of royalties. It provides a compromise for authors and narrators looking for a blend of upfront payment and potential long-term royalties.
ACX allows you to set your own price, but it is essential to remain competitive while ensuring profitability. As you gain experience and establish yourself, you can command higher rates. As you gain traction and experience, consider applying to become an Audible Approved Producer, granting you greater visibility and credibility among authors seeking narration services.
Method #3 Join Audible’s Affiliate Marketing Program
Unlock the potential of affiliate marketing and earn money through the Audible Affiliate Program. Joining the program allows you to promote Audible and earn commissions for each successful referral.
To become an Audible affiliate, sign up for the Audible Creator Program, which provides you with a custom URL to share with your audience. When someone signs up for a free 30-day trial using your link, not only will they receive a free audiobook, but you will also earn a $15 commission. Also, if you are already an Amazon Associate, you can incorporate Audible promotions into your existing agreement.
To maximize your earnings as an Audible affiliate, utilize various channels to spread the word. Share your promotional links on social media platforms like Facebook and YouTube, integrate them into your blog through links or banner advertisements, share them with friends, family, and colleagues, or advertise them on podcasts and other promotional platforms.
Affiliate marketing offers a passive income stream by leveraging your audience’s interest in Audible’s vast collection of books. By providing value to your listeners and offering them a free audiobook through the 30-day trial, you can increase conversions and generate more commissions. You can boost traction to your link, add it to blog articles, mention books on your podcast, or create book reviews on YouTube to guide your audience towards Audible.
Remember, affiliate marketing allows you to earn money without the need for hard selling. By simply referring listeners to books they love and highlighting Audible’s free trial, you can create a passive income source while providing value to your audience.
Final Takeout
Using any of the methods mentioned above are sure-fire ways to start your earning journey with audible. While becoming a book narrator is arguably the method that presents earnings in lump sums, there is no limit to what you can earn with any of the options – it depends on how much you choose to spend in milking it.
The post How to Make Money on Audible appeared first on Daily Media.