Have you ever thought about making 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!
- Audible – Audible is an Amazon-owned platform popular for its collection of audiobooks, podcasts, original content, & more.
- Making Money – Audible provides multiple ways for income generation, whether you’re an author, artist, or someone looking to supplement your earnings. You can use one or more monetization methods to establish a reliable income stream for yourself.
- 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.
- Ways To Make Money – You can make money on Audible through various ways, such as affiliate marketing, Amazon Associates Program, Audible Podcast Development Program, selling Audible products, and becoming a narrator.
- Choose Correct Niche – If you want to establish a dependable income on the platform, you need to select a niche with promising potential.
- Collaboration – 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.
- Increase Your Earnings – 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 and grants you a 40% share of the royalties.
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.
Understanding Audiobook Creation Exchange (ACX)
If you’re thinking of becoming an audiobook narrator or audiobook seller, then it is important to understand Audiobook Creation Exchange.
Well, 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.
Now, let us look at the benefits of Audiobook Creation Exchange in the next section.
Benefits Of Audiobook Creation Exchange
Audiobook Creation Exchange provides several benefits to authors and narrators. Let us look at them:
Benefits of ACX for Authors –
- Streamlines the conversion of your book into an audiobook
- Ensures audio quality meets standards prior to audiobook release
- Empowers you with creative authority throughout the audiobook production process
- Establishes a sustainable income source through a royalty-sharing model from audiobook sales
- Taps into the expanding listener market by producing an audio version of your book
- Assists collaborators with available resources and guidance
- Enables you to monitor your audiobook’s performance using ACX’s comprehensive tracking metrics.
Benefits of ACX for Narrators –
- Welcomes narrators, even those without prior voice-acting background, at no cost to enroll
- Offers the flexibility to opt for a share of audiobook sales or a fixed payment for your narration
- Empowers you to steer your projects, selecting those that match your expertise and passions
- Facilitates the broadening of your professional network through collaborations with various authors and publishers.
See how Billy O’Shea shares his views on Audible –
Now, let us look at the ways for making money on Audible.
Methods For Making Money On Audible
Well, there are many methods for making 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.
If you have graphic design knowledge, you can design your book cover or hire an expert for this task.
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
Another method to make money from Audible is by doing 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.
You need to pinpoint your target audience and generate content that aligns with their interests and inclinations. Leverage your blog, website, social media channels, and online platforms to broaden your audience.
You can also produce review videos, craft audiobook recommendations, and establish an email marketing newsletter as part of your strategy.
Familiarize yourself with search engine optimization (SEO) techniques to enhance your website’s visibility. Identify and integrate suitable keywords into your metadata, titles, and content.
Amazon provides marketing and advertising resources for its affiliates, which you can utilize without requiring advanced web expertise.
Further, you can make a personalized URL, which tracks every click and completed sale. It grants you a percentage of the earnings for each successful transaction.
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.
See how BookBreak is promoting Audible books and putting the links in the video description.
4. Selling Audible Products & Services
Another way to make money on Audible is by selling products and 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
Are you a budding talent aiming to make your mark in the industry or a seasoned narrator looking to enhance your skills?
If yes, then narrating the works of other authors presents another profitable scope of earning income on Audible.
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.
You can further customize your delivery to align with the content and the author’s intended message. Maintain a consistent and enthusiastic tone throughout the narration.
Given that narration often involves lengthy sessions in front of a microphone, you need to maintain your stamina. You’ll need unwavering energy and a steady voice throughout recording sessions.
Don’t forget to indulge yourself emotionally in the book to create an engaging and captivating narration.
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.
A Redditt user shares his views on Narrator earnings –
6. Audible Podcast Development Program
Audible Podcast development program is another method to make money on Audible.
Audible 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.
Moreover, the Podcast Development Program includes support for script editing, the provision of production equipment, and mentorship throughout the podcast creation process.
So, these were the six methods for making money on Audible.
Now, let us look at the successful stories of making money on Audible in the next section.
Successful Stories Of Making Money On Audible
Here are some of the successful stories on Audible:
1. Matthew McConaughey – Audible Creator
Greenlights, authored by Matthew McConaughey, has achieved 168,736 ratings with 4.8 stars out of 5. It is listed as one of the best sellers on Audible.
2. James Clear – Audible Creator
Atomic Habits, authored by James Clear, has achieved 128,151 ratings with 4.8 stars out of 5. It is also listed as one of the best sellers on Audible.
3. George Guidall – Audible Narrator
George Guidall, an 81-year-old American actor, is popular as the top-earning narrator on Audible. His deep and resonant voice has graced the narration of more than 1,300 audiobooks.
4. Bailey Varness – Audiobook Narration Specialist
Bailey Varness is an Audiobook Narration Specialist and Voice Work Coach. She has an online course on Udemy where she teaches people how to become audiobook narrators and producers.
Now you’re aware of the methods for making money on Audible and some successful stories. Let us look at the tips for higher earnings on Audible.
Strategies To Earn The Most Money On Audible
Audible offers earning potential for everyone, yet only a chosen few achieve the highest incomes on the platform.
By implementing the correct strategy, you can also establish a sustainable full-time income through Audible.
There are many strategies to earn money on Audible. Let us look at them:
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.
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.
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.
Cultivate Your Unique Following
If you want to succeed while selling on a third-party platform, you need to establish your dedicated audience.
See how the Facebook group “For the love of books…buy/sell” is dedicated to book sellers.
Additionally, you might consider launching your own blog or an e-commerce website to showcase your Audible collections.
Start developing an email list that includes individuals interested in your niche.
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.
Now, let us have a look at some FAQs on making money on Audible.
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 Podcast 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.
Making money on Audible is a new concept of passive income and has a good earning potential.
Hope you find value in this article! Please share your experience in the comments section!