Audiobooks have become increasingly popular in recent years, and for good reason. They offer a unique way to experience literature, allowing readers to listen to their favorite books while on the go. But audiobooks aren’t just great for readers - they’re also an excellent opportunity for authors to expand their reach and increase their revenue.
Firstly, audiobooks offer an additional revenue stream through audiobook sales, expanding an author’s income potential through audio versions of their books. They also tap into the growing demand for audio content, catering to audiences who enjoy listening on the go, much like podcasts. While hiring a professional audiobook narrator or audio engineer is an option, platforms like Fiverr and Upwork provide access to talent for self-help authors looking to record their audiobooks themselves.
Distributors like Apple and Kindle make it easy to reach a vast audience, and the royalty share model allows authors to earn from their audiobooks’ success. Additionally, audiobook versions can breathe new life into an entire book, attracting a fresh audience while offering a DIY approach for those with the know-how and access to recording studios.
Secondly, audiobooks cater to a diverse audience, including those who prefer listening over reading. By creating an audiobook, you tap into a broader demographic and potentially increase your book’s reach. Audiobooks also make content accessible to people with visual impairments or those who struggle with traditional reading. By creating an audiobook, you make your work inclusive and accessible to all.
Thirdly, audiobooks can help authors stand out in a crowded market. With so many books being published every day, it can be challenging to get your work noticed. Audiobook creation showcases your versatility as an author and your commitment to providing content in various formats. It also offers a chance to differentiate yourself from other authors in your genre and attract new readers.
Fourthly, audiobooks can deepen the emotional connection between authors and their readers. As humans, one of the first ways in which we experience the world is through sound. Audiobooks allow authors to connect with their readers on a deeper level, bringing their stories to life in a way that print books cannot. By narrating your own audiobook, you can infuse your work with your unique voice and personality, creating a more intimate and personal experience for your readers.
The fifth reason is to make your work an audiobook is due to the analytics. Whenever a book is sold on other publishing platforms such as Amazon, Apple, Google etc, there isn't any details provided about the age of the buyer or gender or what country their in. But with an audiobook published on Spotify, there is a specific tab that displays Spotify analytics.
Once you click on your analytics tab you can choose which week you would like to see.
Here is the week of December 11, 2023.
As the data shows, there is people listening to this book in USA, Australia, and Great Britain. It also shows their gender and total minutes listened to. The benefit of this data is that it makes targeting the advertising more accurately. Instead of advertising to 20 year olds in Canada, it would be better use of advertising dollars to focus on 35 year old females in Great Britain. This insight can only be done with an audiobook, making this another advantage only available with audiobook publishing.
Boosting Your Author Platform and Your Book’s Marketability
Audiobooks not only provide authors with an additional revenue stream, but there are innumerable promotional opportunities that arise from publishing one.
To start, audiobooks can also help promote the physical and eBook editions of your book. For instance, audiobooks have a 'Hear Sample' option which gives the potential reader an opportunity to hear your words and your content, thereby giving you greater ability to sell your book. Some readers will start with the audiobook and subsequently purchase the print or eBook edition because they want to be able to experience that content visually — or even simultaneously listen while they read.
Audiobooks are also “moving media” that you can use to promote your book digitally, in media pitch kits, and on social media. Moving media — for instance, a clip from your audiobook set to minimal video accompaniment — is more engaging and dynamic than “static media” like still images. If you’re courting TV, radio, or podcast producers, including a link to an exciting audiobook clip can give the booking agent a fuller sense of your voice (if you’re narrating it), your book’s subject matter, and why you’d be a good fit for their program.
Furthermore, there’s an undeniable “halo effect” or perception boost authors generate when your book is available in many different formats. It telegraphs to readers and potential clients that you have a well-developed author platform and that you should be taken seriously.
Finally, the audiobook market is booming, with consistent growth year after year. By creating audiobook versions of your work, you position yourself to capitalize on this thriving market. According to a report by the Audio Publishers Association, audiobook sales in the United States grew by 12% in 2020, generating over $1.3 billion in revenue. With the rise of audiobook platforms like Audible and the increasing popularity of smart speakers like Amazon Echo and Google Home, the demand for audiobooks is only going to continue to grow.
In conclusion, audiobooks offer a wealth of opportunities for authors looking to expand their reach and increase their revenue. They offer an additional revenue stream, cater to a diverse audience, help authors stand out in a crowded market, deepen the emotional connection between authors and their readers, and capitalize on a booming market. If you’re an author looking to take your work to the next level, creating an audiobook is an excellent place to start.