Audible has exploded in popularity over the last decade, becoming the world’s largest seller and producer of audiobooks. But Audible also presents a variety of money-making opportunities beyond just buying and listening to audiobooks.
If you have expertise to share via the written or spoken word, a podcast concept, or creative business ideas, you can leverage Audible to generate real income.
In this article, we’ll explore proven strategies how to make money on Audible.
1. Become an Audiobook Narrator
One of the best ways to leverage Audible to make money is by becoming an audiobook narrator. Audible hires freelance narrators to produce audiobook recordings for their catalog.
The process works like this:
Step 1: Create an account on ACX.com, which is Audible’s narrator platform. You’ll need to provide an audition recording to demonstrate your vocal skills.
Step 2: Browse available titles on ACX and audition for any books you’d be a good fit for. Authors approve narrators.
Step 3: Once hired for a title, you’ll record and deliver the audiobook files on a set schedule. ACX guides you through the entire process.
Step 4: Get paid a pre-negotiated per-finished-hour rate for each title. Rates typically range from $100 to $500+ per hour depending on experience.
It takes hard work and persistence to build up a roster of steady narration gigs, but it can become quite lucrative over time. If you love reading aloud and have some vocal training, it’s an amazing way to make ongoing money on Audible.
2. Publish Your Own Audiobooks
If you’re an expert on a topic or have written interesting books, converting them into audiobooks and publishing through Audible can generate passive income.
Here’s a quick overview of the self-publishing process:
Step 1: Have your book professionally narrated and produced, either by hiring on ACX or narrating yourself.
Step 2: Publish the completed audiobook on Audible via ACX. You’ll get accepted once you prove ownership of the content.
Step 3: Promote your audiobook heavily through Amazon advertising, your own marketing, getting reviews, and more. Without promotion, it will languish.
Step 4: Earn 25-40% royalties every time your audiobook sells. Amazon will recommend your titles if they perform well.
Many self-published authors on Audible easily generate over $100k per year through diligent self-promotion and releasing new books frequently. It’s achievable income if you put in the work.
3. Create Audible Original
Audible Original audio is exclusive, original content produced specifically for the Audible platform.
If you have an idea for a scripted audio drama, documentary, interview show, or other audio-first concept, you can pitch it to Audible for funding and distribution. Audible Originals can involve six and seven-figure production budgets when greenlit.
Here are tips for developing a pitch:
- Partner with established talent
- Have a multi-episode vision
- Highlight what makes the content special for audio
- Work with experienced audio producers
- Offer something unavailable anywhere else
Landing an Audible Original hit leads to a windfall in production fees, residuals, visibility, and IP ownership of derivative rights. It’s very competitive, but potentially highly rewarding.
4. Promote Audible with Affiliate Links
Joining Audible’s affiliate program allows you to earn commissions promoting Audible products and services on your website, social media, YouTube, podcast, etc.
You’ll earn $5-$10 per membership commissions on all customer activity driven by your affiliate links. The cookies track for 24 hours after a click.
Effective affiliate marketing tactics include:
- Writing in-depth audiobook reviews
- Creating “best books on ____” lists
- Offering coupon codes and deals
- Promoting Audible gift memberships
Consistent affiliate promotions through high-traffic channels can easily generate thousands per month.
5. Develop Value-Added Audiobook Products
Repackaging and enhancing public domain audiobook content is a proven path to Audible income.
For example, you could:
- Bundle thematically related public domain titles along with commentary
- Add study guides or discussion questions to classic literature
- Include bonus interviews and backstories with an autobiography
- Split a long work like Moby Dick into a multi-part series
As long as 20% of the content is new, you can publish it as a new work. Study guides, summaries, and compiled works translate into nice roes.
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Other Ways for How to Make Money on Audible
Beyond the top five methods above, here are a few more approaches to making money on Audible:
License your music – Audible pays royalties for music featured in their audiobooks. Submit your catalog for possible licensing.
Launch a podcast – Audible is pushing into exclusive podcast content. Pitch them your idea for a hot podcast optimized for audio.
Sell your book to Audible Studios – Audible commissions exclusive titles through their Studios division. A book deal with Studios can earn big upfront fees.
Consult or teach for ACX – If you have insider Audible publishing expertise, offer paid consulting services to authors or teach ACX best practices.
Refer authors – Refer writers looking to publish audiobooks and earn a finder’s fee from ACX.
Transcribe audiobooks – Audiobooks need written transcripts too – offer your transcription services to narrators and studios.
As you can see, Audible offers diverse moneymaking opportunities for creative entrepreneurs willing to provide value to their ecosystem.
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FAQs
How much money can you make on Audible?
It depends heavily on your role and success. Top narrators can make $100k+ annually. Self-published authors can generate over $50k per year on a single audiobook title. Affiliate promotions can drive thousands per month consistently. Music licensing and podcast production can also lead to five and six-figure payouts with the right deal.
Is it easy to make money on Audible?
Like any business, it takes consistent hard work and smart strategies. But proven business models leveraging Audible for profit exist. It’s easier than trying to make money in more competitive spaces. Audible’s rapid growth provides many moneymaking openings.
What sells best on Audible?
Non-fiction titles focused on popular categories like personal development, business, mindfulness, health, and memoirs generally sell the best on Audible. Evergreen, evergreen niche topics have the most listenership potential versus fleeting pop culture fads.
Do you need an agent to publish on Audible?
No, you can publish directly without an agent on ACX. However, agents can negotiate better royalty rates and get your books in front of bigger publishers using their industry connections. For maximum reach and income, an agent is recommended.
How much do Audible narrators make?
It ranges widely based on experience level and negotiation tactics. Beginners may start at $100 per finished hour, while top narrators can command $500+ per hour. At higher tiers, six-figure annual income is common with consistent work. Building your narrator brand is key.
Ready to Make Money on Audible?
I hope this guide provided you with actionable ideas on how to start earning real income through Audible in 2023. Audiobooks represent the future of content consumption – take advantage of Audible’s soaring popularity to create wealth through your knowledge and talents.
Let me know if you have any other questions! I’m happy to offer tips and point you in the right direction based on your skills and interests. Audible offers life-changing money making potential – seize the opportunity today.