I am always an advocate for building up multiple streams of income, and with that, the easiest route for me has been side hustles, particularly online side hustles. 

You are probably familiar with Audible, the audiobook platform by Amazon Audible offers a unique opportunity to tap into a growing market while sharing your passion for literature (or lack thereof). Let’s go through the steps of making money on Audible. I will do my best to provide you with valuable insights that can help you gain a competitive edge.

1. Understanding the Audible Landscape

Before delving into the specifics of making money on Audible, it’s crucial to grasp the platform’s dynamics. Audible, as the world’s leading audiobook provider, offers authors and narrators a chance to showcase their work to a global audience. Leveraging this platform can lead to lucrative income streams and heightened recognition in the literary world.

2. Crafting Compelling Audiobook Content

The heart of your success on Audible lies in the quality of your audiobook content. Crafting compelling, engaging, and high-quality content is the foundation of a successful venture. Here’s how you can ensure your audiobook stands out:

  • Choose the Right Niche: Select a niche that aligns with your expertise and resonates with your target audience. Conduct thorough research to identify trends and gaps in the market.
  • Script Development: Invest time in creating a well-structured and captivating script. Whether you’re adapting an existing book or writing a new one, focus on delivering value and entertainment. It may be helpful to use AI for this process, particularly ChatGPT has helped me out countless times writing scripts. 
  • Professional Narration: The narration can make or break an audiobook. Consider hiring a professional narrator who can bring your words to life with the right tone and emotion.

3. Making Money as a Narrator on Audible

Becoming a narrator on Audible opens up another avenue to generate income and contribute to the audiobook ecosystem:

  • Voice Audition: Audition for available audiobook narration projects on the ACX platform. Showcase your vocal range, ability to convey emotions, and overall narration skills.
  • Royalty Share: Some authors offer a royalty share model, where narrators receive a percentage of the audiobook’s earnings in exchange for their narration services.
  • Per Finished Hour (PFH): Alternatively, you can negotiate a fee based on the length of the finished audiobook hour. This upfront payment method provides a predictable income stream.

Earning Potential: How Audiobook Narrators Make Money

Below are the main avenues for getting paid as an audiobook narrator on audible. 

1. Royalty Share

Many platforms offer narrators a royalty share, allowing you to earn a percentage of the audiobook’s sales. While it might take time to generate substantial earnings, this model provides a long-term income stream as your audiobook gains popularity.

2. Per Finished Hour (PFH) Rate

Alternatively, you can negotiate a PFH rate with authors and publishers. This fixed payment for each hour of finished narration rewards your time and effort directly, making it a suitable option for both new and seasoned narrators.

3. Profit from Multiple Platforms

Diversify your income by distributing your narrations across various platforms, such as Audible, Apple Books, and Google Play Audiobooks. This approach widens your audience reach and maximizes your earning potential.

4. Publishing and Distribution Strategies

Once your audiobook content is ready, it’s time to navigate the publishing and distribution landscape on Audible:

  • ACX Platform: The Audiobook Creation Exchange (ACX) is Amazon’s platform for authors, narrators, and publishers. It provides the tools necessary to create, publish, and distribute audiobooks.
  • Exclusive vs. Non-Exclusive: Audible offers two distribution options – exclusive and non-exclusive. Exclusive distribution provides benefits like higher royalties, while non-exclusive distribution allows you to sell your audiobook on other platforms.
  • Metadata Optimization: Pay careful attention to metadata such as keywords, categories, and descriptions. These factors contribute to the discoverability of your audiobook.

5. Marketing Your Audiobook Effectively

To maximize your earnings on Audible, a robust marketing strategy is essential:

  • Social Media Promotion: Leverage platforms like Instagram, Twitter, and Facebook to connect with your target audience. Share behind-the-scenes insights, snippets from your audiobook, and engage in conversations related to your niche.
  • Author Website and Blog: Create a professional author website where users can learn more about you and your work. Maintain a blog with informative content that resonates with your audience.
  • Collaborations and Reviews: Partner with influencers, bloggers, and reviewers in your niche to generate buzz around your audiobook. Positive reviews can significantly impact your sales.

6. Monitoring and Optimization

In the ever-evolving digital landscape, continuous monitoring and optimization are crucial:

  • Sales Analytics: Regularly analyze your audiobook’s sales data on the ACX dashboard. Identify trends, peak sales periods, and areas for improvement.
  • Gathering Feedback: Actively seek feedback from your listeners. Constructive criticism can help you refine your content and narration style.
  • Iterative Approach: Use the insights gained from monitoring to optimize your marketing efforts, content creation, and distribution strategies.
Credit: Sean Dollwet

Conclusion

Embarking on a journey to make money on Audible requires dedication, creativity, and a strategic approach. By following the steps outlined in this guide, you’ll be well-equipped to create, publish, and promote your audiobook successfully. Whether you’re an author, a narrator, or both, Audible offers a platform to showcase your talents and generate income. Remember, every audiobook is a unique opportunity to captivate listeners and leave a lasting impact. Start your Audible journey today and unlock the potential of your storytelling prowess.

“The only thing that you absolutely have to know, is the location of the library.” – Albert Einstein