6 Tools to consider to start making audiobooks today
The Rise of Audible and Aidiobooks
I was shocked the first time I saw the statistics for myself.
I thought all the csh was in ebooks, but authors were making absolute bank on audio versions of their books!
So listen up, my fellow word-slingers! The audiobook market isn't just growing—it's absolutely exploding like Beyonce’s next tune hitting the charts. I’m about to drop some stats on your lap that'll make you want to finish your next manuscript and go record your book faster than you can say "narrator wanted."
The audiobook industry is a goldmine right now. In 2023, the global audiobook market was valued at a whopping $5.4 billion, and it's projected to reach a staggering $13.45 billion by 2028. That's not just growth—that's a literary rocket launch! Ready to get a piece of the pie?
Here's the really juicy part: audiobook sales have been growing at a consistent 20-30% year-over-year, while traditional print book sales have been relatively flat.
Now, let's talk cold, hard cash for you my dear authors. The average audiobook can generate 3-5 times more revenue per unit compared to an ebook. While an ebook might sell for $2.99-$9.99, an audiobook typically ranges from $15-$25.
For indie and self-published authors, royalty rates can range from 25-40%, which means each audiobook sale is putting significantly more money in your pocket.
Some eye-opening statistics that might make your writer's heart race:
About 53% of frequent audiobook listeners are under 45
The average audiobook listener consumes 8 books per year
Roughly 20% of all book sales are now in audio format
Audiobook listeners tend to be higher-income consumers who are willing to spend more on content
But here's the real magic: audiobooks open up an entirely new market of readers—or rather, listeners. People who might never pick up a physical book are now consuming content while driving, working out, or doing chores. You're essentially creating a new revenue stream and expanding your readership simultaneously. I love that vision for you.
Genre matters too. Some genres are audiobook gold mines (which happen to be the ones I mentor authors to create):
Self-help and business books
Memoirs and biographies
Thriller and mystery novels
Science fiction and fantasy
Pro tip from your book doula: The production cost is your biggest hurdle. Expect to invest between $2,000-$5,000 for a professional narration. But here's the beauty—this is a one-time investment that can generate recurring revenue for years. And if you use the AI-option I tentatively suggest below, that cost can shrink to $0-200.
Real-world success stories abound. Some indie authors are making 50% or more of their total book revenue from audiobooks. I've seen authors who struggled to sell 100 ebooks suddenly generating thousands in audiobook sales.
The market is hungry, the technology is accessible, and the potential is enormous. If you're not considering an audiobook version of your book, you're literally leaving money on the table.
Your words deserve to be heard—literally and financially!
What You Should Consider When Turning Your Book into an Audiobook
Listen up, word wizard! Navigating the audiobook world isn't about picking the first platform that catches your eye—it's about finding the perfect match for your literary baby. Think of these platforms like dating apps for your manuscript, each with its own personality and perks. You'll want to swipe right on the one that truly gets your book's vibe. Take your time and do a little digital window shopping. Check out their terms like you're reading the fine print on a dream contract. Peek at those royalty structures—they're not just numbers, they're potential paychecks! Don't be shy about comparing sample narrations; your book deserves a voice that makes readers lean in and listen. And hey, in this digital age, a little research goes a long way.
Keep reading for an easy-to-digest list of my top finds.
Top 6 Tools to Consider Using to Create your Audiobook
I scoured the internet, interviewed some bestselling authors and voice actor buddies in Hollywood and came up with this list for you, my dear author friends.
First, lets talk about the one AI option that made the list.
Eleven Labs (www.elevenlabs.io) - AI Voice Generation Platform
Key Features:
Advanced AI voice generation technology
Ability to create highly realistic synthetic voices
Supports multiple languages and accents
Offers voice cloning capabilities (You can clone your voice to read text to speech. Creepy or cool? I’m on the fence).
More affordable and much faster than traditional narration methods
Pros for AI-Audiobook Creation:
Significantly lower cost compared to professional narrators
Rapid production time
Consistent voice quality and tone
Can be read in your own voice (just a cloned version. Still weird.)
Multiple voice customization options
Can generate entire audiobooks quickly, which is the complete opposite of weeks or months-long contract with professional human narrators.
You can have your book published in multiple languages and reach millions of potential new readers.
Cons for Audiobook Creation with this AI-tech:
Currently it lacks the emotional nuance of human narrators
May sound slightly robotic or artificial
Limited ability to convey complex character emotions
Potential issues with pronunciation of specialized terms
Some audiobook platforms might have restrictions on AI-generated content
Pricing Tiers:
Free tier with limited characters
Professional tier: $99/month (up to 250,000 characters)
Enterprise tier: Custom pricing for high-volume needs
Best For:
Authors on a tight budget
Non-fiction and technical books
Simple narrative styles
Experimental or supplementary audio versions
Recommended Use:
Consider Eleven Labs and similar platforms as a complementary option, not a complete replacement for human narration.
It’s best for straightforward, informative content, not for novels or more emotive and expressive works.
Ideal use: testing an audiobook’’s market potential before investing in professional narration.
Top 5 Platforms to Create and Distribute Your Audiobook
Now let’s compare and consider the top five resources and platforms to help you turn your book into an audiobook, and start building your audiobook empire.
1.ACX (Audiobook Creation Exchange) by Audible
Owned by Amazon, this is the most popular platform for audiobook production
Connects authors with professional narrators and sound engineers
Distributes audiobooks to Audible, Amazon, and iTunes
Offers royalty options like exclusive (40% royalty) or non-exclusive (25% royalty) deals
Provides tools for recording, editing, and quality control
2.Findaway Voices
Created by Spotify
More flexible alternative to ACX with wider distribution
Supports distribution to over 40 audiobook platforms worldwide
Allows you to choose your own narrators from their extensive talent pool
Offers different pricing models and royalty structures
Provides helpful resources and guides for first-time audiobook creators
3.Voices.com
Large marketplace for voice talent and audiobook narration
Allows you to post your project and receive auditions from professional voice actors
Offers tools to review, communicate, and negotiate with potential narrators
Provides quality control and payment protection services
Suitable for authors who want more control over narrator selection
4.Author's Republic
Aggregator platform for audiobook distribution
Works with multiple production services and narrators
Distributes to over 50 audiobook platforms globally
Offers flexible production options
Provides detailed analytics and reporting
5.Draft2Digital's Audio Publishing Services
Newer entrant in the audiobook market
Offers AI-generated audiobook options for budget-conscious authors
Provides human narration services
Integrates well with their e-book publishing platform
Simple, straightforward process for converting books to audio
No matter what platform you feel the most drawn to, remember to read the reviews before you commit. Beyond their flashy marketing, what are other authors experiencing? Read what other authors are saying about the experience, the true costs, and their profitability too. You can always get the inside scoop from writing forums, and trust your gut.
Your audiobook journey is unique, just like your story, so find the platform that feels like home and makes your words sing in their fullest power to the world.
Curious to learn more about the step by step process of turning your manuscript or ebook into an audiobook? Check out this blog post where I lay it out, as only the book doula can!
You’ve got this, and know that I’m always in your corner.
If you’re not already being supported by our fun, talented writing collective of budding and bestselling authors, check it out here. We’d love to have you inside the B.O.S.S. (Being of Sacred Service) Books Collective.
xx
The Book Doula,
Emily Bauman