How to Make Money Publishing Audiobooks on Audible ($16,751 Per Month)
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Introduction
In the world of online business, one of the most lucrative opportunities is e-publishing, particularly in the audiobook sector. If you're curious about how you can take advantage of this booming market, keep reading. My name is Sean, and I've personally generated multiple six figures annually through this business model, eventually selling it for a staggering $ 820,000.
The Growth of the Audiobook Market
The audiobook market is experiencing explosive growth, recently overtaking the ebook and paperback markets. The most dominant player in this space is Audible, owned by Amazon. Through their program called ACX (Audiobook Creation Exchange), anyone in the U.S., U.K., Canada, or Ireland can sign up and upload their own audiobooks.
Selling audiobooks can yield between $ 1 to $ 6 (or even higher) per sale. Many people are making thousands of dollars just by uploading audiobooks to Audible. Personally, I have sold over 100,000 units, earning well over six figures in the process.
Who Can Join ACX?
It's crucial to note that ACX is only available to those residing in the U.S., U.K., Canada, and Ireland. However, if you're outside these countries, there are alternative platforms like Findaway Voices that can help you publish on Audible and other platforms globally.
Steps to Start Your Audiobook Business
1. Identify Your Book Topic
The first step is to come up with a book topic. This can be based on your hobbies, passions, or interests. A popular format is list-type books, which are relatively easy to create and thrive in audiobook format. Research your chosen topic on Audible and see how well similar books are performing; look for titles with a high number of reviews, indicating strong sales.
To assist you in gauging potential earnings, tools like Book Beam can help you estimate royalties. For instance, a book like "Learn Spanish for Beginners" may earn between $ 59 to $ 94 daily, equating to thousands monthly!
2. Create the Book
Once you have your topic, you need a manuscript, a book cover, and a narrator for your audiobook. You can write the book yourself, outsource it to a ghostwriter, or use tools like ChatGPT for ideas. For example, you can request ChatGPT to generate trivia questions or create a book outline.
When seeking a book cover, you can design it yourself or hire a professional through platforms like Fiverr for a nominal fee.
3. Publish on Amazon
Before you can convert your book into an audiobook, you need to publish it as an ebook on Amazon's Kindle Direct Publishing (KDP). After listing your book, you'll need to upload your manuscript and cover to publish it.
4. Create Your Audiobook
Next, sign up for ACX and search for your newly published title. You’ll navigate through the platform to find a narrator for your audiobook. You can either pay upfront for the narration or opt for a royalty share agreement, although the former is usually more profitable in the long run.
Once your audiobook gets approved by ACX, it will be available for purchase on Audible and other platforms.
5. Explore Alternative Platforms
If you live outside of the U.S., U.K., Canada, or Ireland, find platforms like Findaway Voices to reach a broader audience beyond just Audible.
Conclusion
Publishing audiobooks can be a lucrative source of passive income. With each successful project, your portfolio grows, leading to potentially thousands of dollars each month. So why wait? Dive into this profitable business model and start reaping the rewards!
For a more in-depth look at this business model, you can access my free training linked in the description below.
Keyword
- Audiobook
- Publishing
- Audible
- ACX
- KDP
- Findaway Voices
- Royalty
- Ghostwriter
FAQ
1. How much can I make from publishing audiobooks?
The potential earnings can range from $ 1 to $ 6 per audiobook sale, with some individuals making thousands monthly.
2. What platforms can I use to publish audiobooks?
You can use ACX to publish on Audible and other platforms like Findaway Voices to reach a wider audience.
3. Do I need to write the audiobook myself?
No, you can hire ghostwriters or use AI tools like ChatGPT for assistance in creating your manuscript.
4. What if I live outside the U.S., U.K., Canada, or Ireland?
You can use platforms like Findaway Voices to publish your audiobook even if you're outside these countries.
5. How long does it take for my audiobook to be available for sale?
Once submitted, it typically takes about 10 days for ACX to review and approve your audiobook for sale.
