Audiobook listening has been growing for the past decade. The 2018 Annual Audiobook Sales Results published by the Audio Publishers Association showed that audiobooks experienced double-digit sales growth since 2012.
June is Audiobook Month—a month dedicated to highlighting audiobooks. Audio publishing is a growing segment of the book industry. Many indie authors are dipping their toes into creating audiobook versions of their print books.
Should you make your book into an audiobook? Here are two questions to ask yourself to determine if creating an audiobook is right for you.
1. Is My Book Selling Well?
If you are only selling a couple copies of your book a month—or have sold less than 1,000 copies of your book or book series overall—then creating an audiobook is probably not the best use of your publishing and marketing funds. A better use of your money and time might be to invest in a robust marketing campaign to increase sales of your print and ebook.
Remember, an audiobook is just another format of your book. People still have to know about it to purchase your book in audiobook format. In other words, creating an audiobook version of your book does not guarantee more sales.
2. Am I Willing to Invest a Chunk of Money into Creating an Audiobook?
Creating an audiobook is not cheap. According to Findaway Voices, an average audiobook created with their service has about 50,000 words and costs between $1,000 and $2,000.
The narrator often makes or breaks an audiobook. Most traditionally published audiobooks have professional narrators. Sometimes an author will narrate their title. Even with an author narrating, the cost to professionally edit the audiobook to remove extra sounds and make it smooth starts at about $250 per hour.
There are ways to save money when producing an audiobook. For example, with ACX, indie authors can find narrators willing to split royalty payments instead of being paid upfront. This can help save money when producing an audiobook.
A new service has recently popped up. Indiepub claims that they can make audiobooks 100 times more quickly with 10% of the regular cost to produce an audiobook using artificial intelligence. This new service claims they will turn your print book into an audiobook in 15 minutes for $499 (currently offering an introductory price of $99). However, I was unable to find a sample of an audiobook recorded with a digital voice on their site—so I have no idea how it sounds.
Don’t miss out on any of the great information shared in this blog. Subscribe to receive each post in your email box. Just click here.