I love audiobooks! I listen to 200-250 audiobooks every year and have been blogging about them since 2018. Seeing the audiobook market explode as it has done in this time has been AMAZING!
In 2023 alone, the global audiobook market reached a staggering $4 billion! And you know what’s even more impressive? The sheer number of new audiobooks being released. Back in 2011, we saw 7,237 new titles, while in 2020 that number jumped to 71,000!
And if you think this market is in any way saturated, well, I can tell you, you are so wrong! So, if you’re considering joining this thriving market, you’re in the right place.
The Numbers Authors Need to Know
Let’s dive into the metrics that matter most for your publishing decisions. A professionally produced audiobook typically costs between $3,000 to $4,500 for a standard-length novel (80,000 words). But here’s what makes these numbers work: Average per-unit revenue for authors is substantially higher for audiobooks compared to ebooks, often 3-4 times more per sale.
Breaking this down by distribution models reveals interesting opportunities:
- Audible exclusive royalties (40%) on a $20 audiobook = $8 per sale
- Wide distribution average royalty (25-80%) varies by platform:
- Library loans typically generate around $2 per borrow
- Direct sales through platforms like Libro.fm offer up to $10-12 per unit
- Subscription services pay per listening minute, averaging $1-3 per completed book
The fastest-growing genres for indie audiobooks include:
- Contemporary Romance
- Psychological Thrillers
- Business/Self-Development
- Cozy Mysteries
- LitRPG/Gamelit
Fantasy is also experiencing a huge boom.
Production costs can be offset within 300-500 sales at standard royalty rates, making audiobooks a viable investment for authors with established readerships.
Your Production Options
Let’s talk about the three paths you can take to turn your book into an audiobook. I’ve seen authors succeed (and struggle) with each of these. They all have their pros and cons.
Traditional Publishing
This has been the dream for so many, for so long. And a publisher handles everything – production, narration, marketing. There used to be no alternatives to his path. If you wanted to write, you needed a publisher. But in order to get one, you need to have “the right product”. They typically only take on very successful ebooks, and you’ll earn lower royalties (usually 10-25%). So, it’s hands-off but comes with a trade-off.
Self-Publishing with a Professional Narrator
This is where you’re in the driver’s seat. The royalties your audiobook earns are all yours to keep (40% on ACX exclusive, or up to 80% on other platforms), and you get to make all the creative decisions. But be prepared for significant upfront costs! Good narrators are worth their weight in gold, and they know it.
ACX Royalty Share
No upfront cost sounds amazing, doesn’t it? But hold on. You’re looking at a 7-year exclusivity contract where you split that 40% royalty with your narrator. Plus, many experienced narrators prefer upfront payment, so your selection pool might be limited and you will lose out on the big marketing bump a well-known narrator brings.
Read more about ACX Royalty Share Pros and Cons!
The Technical Side
Before you jump into recording, there’s crucial prep work needed.
Making Your Manuscript Audio-Ready
- Character names your narrator needs to pronounce correctly? Create a guide!
- Got charts or graphs? Plan a supplemental PDF!
- Footnotes? We need to make them flow naturally in audio.
- Special formating to indicate a switch in perspective or time? Make a plan on how to translate this into audio!
Quality Matters More Than You Think
Remember point #2 from my Essentials post about narrators making or breaking your audiobook? Well, that doesn’t just apply to marketing. It also comes with technical aspects:
- Professional recording equipment or studio rental (no cutting corners here!)
- Sound editing and mastering to meet platform standards
- Audio levels maintained at -3dB (yes, it’s that specific)
- Multiple rounds of proofing (because mistakes are forever)
The Big Distribution Decision
You’ve got two main choices here, and believe me, this decision impacts everything about your marketing strategy:
Going Audible Exclusive
The Pros:
- That sweet 40% royalty rate on the by far biggest audiobook marketplace
- Whispersync integration (which can seriously boost sales)
- Access to Audible’s promotional opportunities
The Cons:
- You’re locked into one platform (that doesn’t always use its power and influence for good)
- No control over pricing at all!
- Missing out on library apps
Going Wide
The Pros:
- You’re in control of pricing
- Access to library apps (hello, new readers!)
- Multiple income streams
- Freedom to try new platforms
The Cons:
- Lower Audible royalties (25% instead of 40%)
- You have to actively manage sales events (which is a pro too, of course)
- Need for broader marketing strategies
Ready to Make This Happen?
If your head is spinning with all these technical details and marketing decisions, don’t worry, you’re not alone. That’s exactly why I created my comprehensive guide Audiobook Marketing for Self-Published Authors.
Inside, you’ll find:
- Step-by-step narrator evaluation frameworks
- Detailed production timelines and budgeting tools
- Ready-to-use marketing campaign templates
- Platform-specific optimization strategies
- Audiobook suitability assessment worksheets
Whether you’re just starting to consider audiobook production or ready to launch your first audio title, this guide gives you the technical expertise and marketing strategies you need to succeed in today’s competitive audiobook market.
Ready to Turn Your Book into a Successful Audiobook?
Get my complete “Audiobook Marketing for Self-Published Authors” guide and discover:
- ✓ Detailed narrator evaluation frameworks and budgeting tools
- ✓ Platform-specific optimization strategies for maximum visibility
- ✓ Step-by-step marketing campaign templates that actually work
- ✓ Audiobook suitability assessment worksheets
Expand your audience and increase your income with a professional audiobook strategy!
Looking for the basics first? Check out my 10 Essential Tips Every Author Needs to Know Before Creating an Audiobook!
Eline Blackman (pronouns: she/they) fell in love with books as a child – with being read to and reading herself. 10 years ago, she bought her first Audible book. It was love at first listen! An average of 250 audiobooks per year has become the new normal and you will rarely see Eline without a wireless earbud. Romance and Fantasy are the go-to genres for this audiobook fan.