Key Takeaways
- Earn on Audible: Creator Program, audiobook creation/sales, narration, and ACX Bounty promotions.
- Rapid growth in the audiobook market (26.3% CAGR), with Audible as a key player.
- Audible: 63.4% US market share making it the best place to earn with audiobooks.
Let’s cut to the chase. You’re here because you want to make money.
And this might be presumptive, but you’ve likely used Audible before and thought to yourself “how can I cash in with this?”.
In which case, congratulations, you’re already one step ahead in the game. You’ve recognized the potential of a platform that’s revolutionizing the way people consume content.
Audible isn’t just a library of audio experiences; it’s a bustling marketplace, a platform where every story listened to and every book downloaded can translate into real dollars for savvy individuals like you.
But I’m not going to just give you the old “create an audiobook and wait for sales to roll in” advice. There are other ways you can make money with Audible and you don’t even have to write a book yourself. From narrating stories that captivate listeners to using smart affiliate strategies that turn clicks into cash, the opportunities are real and they’re here for the taking.
In this article, I’m going to break down, in no-nonsense terms, the exact ways you can turn Audible into a money-maker. So get ready to dive into the world of Audible, not just as a listener, but as an entrepreneur ready to cash in on this audio gold rush.
What Is Audible?
Audible is a dominant force in the booming industry of audiobooks.
With a 63.4% market share in U.S. audiobook publishing as of 2022, Audible stands at the forefront of an industry that earned $1.6 billion in the US and $4.22 billion globally in 2021. Owned by Amazon, Audible is not only the largest retailer but also the largest producer of audiobooks worldwide, offering more than 200,000 audio products.
Those are some pretty impressive numbers, but just how many people are actually listening to audiobooks?
Well, in 2021, about 45% of adult Americans, totaling around 116.25 million people, had listened to an audiobook. This massive audience spends an average of 41 minutes per day listening to audiobooks, making it a deeply integrated part of their daily routine.
Heck, my wife listens to an audiobook every chance she gets…
- Brushes her teeth – audiobook
- Folds laundry – audiobook
- Leaves the room for 2 seconds… you guessed it – audiobook
The numbers above will probably pale in comparison to the size of the audiobook industry in a few years from now as it’s projected to grow at a 26.3% CAGR from 2023 to 2030. This growth is fueled by the versatility of audiobooks, allowing consumers to access content on various electronic devices anytime, anywhere.
So, yeah… is this a growing market? You betcha.
Do you want to take advantage of it and make some money as it continues to grow? You betcha!
Let’s get into it.
6 Simple Ways to Make Money on Audible
Alright, the time has come.
Here are five ways you can make money with Audible through a mix of creating content on the platform yourself or promoting other people’s content.
1. Join the Audible Creator Program
What to Do
Becoming part of the Audible Creator Program is ideal for those with a digital platform like a blog, YouTube channel, or social media presence. Your role is to create and share content that seamlessly incorporates affiliate links to Audible’s products, such as audiobooks or subscription plans.
How It Works
You earn a commission for each Audible sign-up or audiobook purchase made through your unique affiliate links. The program offers a range of tools and promotional materials to help you effectively market Audible products, track link performance, and optimize your promotional strategies for better results.
Action Steps
- Visit the Audible Affiliate Program page
- Sign up and wait for approval
- Once approved, start promoting your unique affiliate links
- Use your platform to create engaging content that naturally incorporates these links
- Track your performance through the affiliate dashboard
How Much Money Can You Make?
There are 3 different commission structures for Audible:
| Product/Service | $ Commission |
| Audible Gold Digital Membership | $10.00 |
| Audible Free Trial Digital Membership | $5.00 |
| Audible Audiobook | $0.50 |
Promoting memberships is probably your best bet for this affiliate program since $0.50 per audiobook isn’t overly appealing.
Of course, the amount of money you can make through the Audible Creator Program will depend on how effectively you can promote it. Have a large audience of avid book readers? Send out a newsletter with your affiliate link, or drop in an Audible banner on your website.
2. Create Your Own Audiobook
What to Do
If you’re an author, you can turn your written work into an audiobook. This involves either narrating the book yourself or finding a suitable professional narrator, and then handling the production and distribution of the audiobook.
How It Works
Audible’s ACX platform provides a marketplace to connect authors with narrators and audiobook producers. Once your audiobook is created, it’s distributed through Audible, allowing you to reach a wide audience and generate sales.
Action Steps
- Go to ACX and create an account
- Post your book project and specify what you’re looking for in a narrator
- Review auditions and select a narrator
- Agree on production terms and timeline
- Once the audiobook is produced, approve it and set it for sale on Audible
How Much Money Can You Make?
How much you make will really depend on how many books you can sell.
However, remember, Audible is a platform that hosts and sells audiobooks… they don’t do it for free.
According to Axios:
Audible pays authors 25% royalties on audiobooks, or 40% for those who agree to an exclusivity contract.
So, let’s do some quick math.
If you sell 1,000 copies of an audiobook that’s priced at $15 each that’s $15,000
Now, your cut is either 25% or 40% depending on if you want to sign an exclusivity contract meaning you can only sell your audiobook on Audible.
That means from the $15,000 grand total you will either make:
- $3,750 at 25% royalties
- $6,000 at 40% royalties
3. Become an Audiobook Narrator
What to Do
Use your voice talent to become an audiobook narrator. This involves creating a compelling narrator profile on ACX, showcasing your voice through samples, and auditioning for various book narration projects.
You can also try out other marketplaces like Fiverr or Upwork to promote your audiobook narrating services.
How It Works
Through ACX, you can find numerous opportunities to narrate different genres of books. Payment can be arranged either as a flat rate per finished hour (PFH) or as a royalty share with the book’s author.
Same goes for Upwork and Fiverr, although many narrators there solely charge PFH.
Action Steps
- Create a profile on ACX for Narrators
- Record and upload high-quality voice samples
- Browse book listings and audition for projects
- When selected, narrate the book, and submit your recordings
- Get paid for your work after the audiobook is completed and approved
How Much Money Can You Make?
The average narrator charges between $100-$200 per finished hour of work.
Considering that the average audiobook length is 10 hours that’s between $1000-$2000 you could earn for every book you narrate – not bad!
The trick with this one is being able to convince authors that you’re the right person for the job. So, upload crystal clear audio recordings of yourself to showcase your talents and provide a sample of your narrative range.
Networking with authors and publishers, and participating in audiobook forums or social media groups can also increase your visibility in the industry.
4. ACX Bounty Program
What to Do
Participate in the ACX Bounty Program as an author or narrator to earn additional bonus income. This involves promoting your audiobook to attract new Audible members to make their first purchase with your book.
How It Works
You earn a bounty reward every time a new Audible member selects your book as their first purchase. This incentivizes you to market your audiobook effectively to potential new Audible subscribers.
Action Steps
- Ensure your book is available on Audible via ACX
- Promote your book to potential new Audible members
- Encourage them to sign up for Audible and purchase your book as their first buy
- Track your bounty earnings on your ACX dashboard
- Learn more at ACX Bounty Program
How Much Money Can You Make?
The ACX Bounty program’s commission rates are much more appealing than Audible’s base commissions. ACX offers a $75 commission for every referral you make.
However, the catch here is that the referral must be for new customers who purchase their first audiobook through your link.
This means that your ability to earn through the ACX Bounty program largely depends on attracting individuals who haven’t previously bought an audiobook from Audible.
It’s important to target your marketing efforts towards audiences that are new to audiobooks or those who have not yet explored Audible’s vast library.
5. Audible Podcast Development Program
What to Do
Develop and pitch a unique podcast concept to Audible. This involves creating a detailed and engaging proposal for a podcast series that stands out.
How It Works
If your podcast idea is selected by Audible, you receive support for funding, production, and distribution. This program is an opportunity for creative individuals to bring innovative podcast ideas to a wide audience through Audible’s platform.
It’s important to note that this program isn’t open at all times. At the time of writing this article, Audible isn’t currently accepting submissions and is asking to “stay tuned for details on the next call for entries.”
Action Steps
- Develop a unique and compelling podcast concept
- Create a detailed pitch, including your target audience and episode outlines
- Submit your pitch to Audible’s Podcast Development Program
- If selected, collaborate with Audible to produce and distribute your podcast
How Much Money Can You Make?
If selected, you can get up to $10,000 through this program.
That being said, this won’t be straight-up cash that you can take and buy a new dishwasher with.
Instead, you need to utilize it to purchase podcast equipment, software, or services that can enhance your podcasting efforts. This money is designed to improve the quality and reach of your content, ultimately aiding in growing your audience and increasing your potential earnings in the long term.
6. Utilize Audible’s Self-Development Books
What to Do
This suggestion isn’t a direct method to making money with Audible but likely the method that will end up earning you the most money in the long run.
Make use of Audible’s extensive collection of self-improvement and educational audiobooks to augment your skills whether that be for your business or as an employee. As they say, the best investment is in yourself and Audible has plenty of high-quality audio content to help you do just that.
How It Works
If you’re a mentor or coach, incorporating Audible’s audiobooks into your training or teaching programs, can provide additional value to your clients or students. If you run a business owner, leveraging these audiobooks to enhance your team’s skills and knowledge can lead to improved productivity and innovation. As an employee, using Audible’s resources for personal development can boost your career growth and job performance.
Action Steps
- Curate a personalized learning playlist
- Integrate audiobooks into your daily routine
- Share and discuss key learnings
- Track progress and apply learnings
How Much Money Can You Make?
The possibilities are literally endless with this one.
Having a breakthrough thanks to the learnings of a single book can return 10’s or 100’s of thousands of dollars.
But it isn’t just as simple as listening to audiobooks. You need to go out and apply what you’ve learned to make money.
Frequently Asked Questions (FAQs)
Can You Actually Make Money From Audible?
Yes, you can make money from Audible by creating and selling audiobooks, working as a narrator, participating in affiliate marketing, or through programs like the Audible Podcast Development Program. Each avenue offers different ways to earn, either through sales, commissions, or sponsorships.
How Much Do Audible Narrators Get Paid?
Audible narrators’ pay varies. Typically narrators charge between $100-$200 per finished hour however depending on experience it can be more or less than this. Factors like experience, equipment quality, and technical skills influence earnings.
How Do I Get Paid to Read Audiobooks?
To get paid for reading audiobooks, you need to develop strong narration skills, create a compelling demo reel, and network within the industry. Platforms like ACX are popular for finding narration work, where you can audition for projects and choose between per finished hour pay or royalty share agreements.
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