How To Make Passive Income on Audible: 4 Easy Ways to Monetize Audible

So you're wondering: how to make passive income on Audible?

Get ready to strap on your entrepreneurial boots because we're about to explore how to tap into one of the hottest markets!

With over 425,000 audiobooks in the Audible library and a massive untapped audience just waiting to be reached, there's no better time to learn how to make money on Audible.

So let's get to it and discover the secrets to success on this lucrative platform!

How To Make Passive Income On Audible

1. Create Audiobooks

Let's start by looking at how to publish your own audiobook on Audible.

Find Profitable Niches and Keywords

When it comes to passive income ideas on Audible, most start with keyword research.

You should never, I repeat, never, pick a keyword based on emotional or opinionated influence.

For example, you might be obsessed with creating an audiobook about your pet rock collection. But just because you love something doesn't mean a market exists.

So, when doing keyword research, you must focus on data, numbers, and cold, hard facts. That's the only way to find keywords with high search volume and low competition.

You can confidently select the best keywords for your audiobook and increase your chances of success.

In case you want to explore KDSpy in further detail, be sure to check out our full KDSpy review.

Here are the KDP and Audible keyword research criteria I recommend for maximum results:

Another consideration is to select keywords that make sense for audio content. It might be better suited to a different medium if it's a visual topic, like cooking or gardening.

On the other hand, if your topic is something that people would enjoy listening to, such as a motivational book or a gripping novel, then you're on the right track.

Create Quality Content and Write The Book

While writing a book can be a rewarding experience, it can also be time-consuming and challenging. That's why many people are turning to tools like Jasper to help them write their books in a streamlined manner.

Jasper is a popular tool that's helped countless authors write their books in record time. Their community hosts a 7-Day Book Challenge, which challenges users to write a 30,000-word book in seven days.

With the support of the Jasper community, many authors successfully completed the challenge and published their books on Audible.

One Jasper user, Bob Martel, wrote his aptly-named book Unbelievable in under 19 hours.

Of course, not everyone has the time or inclination to write their own book, which is where ghostwriters come in.

Ghostwriters are topical experts who can write your book on your behalf. You will still be credited as the author.

You can hire a ghostwriter on many platforms, such as Upwork, Fiverr, and Reedsy.

Here are some best practices for hiring a ghostwriter:

1. Look for relevant experience. Look for writers with a portfolio of work demonstrating their skills in the niche.
2. Set clear expectations upfront. Discuss the scope of the project, deadlines, and payment terms.
3. Check references and reviews. This can help you better understand their work ethic, communication skills, and reliability.
4. Communicate regularly. It's important to maintain regular communication, provide feedback, and answer any questions they may have.
5. Have a contract in place that protects your intellectual property rights. This can help you avoid any legal issues down the line.

Create a Cover

With thousands of audiobooks available on Audible, a visually appealing and attention-grabbing cover is your ticket to standing out.

A great cover can pique a customer's interest, entice them to click, and ultimately lead to more sales for you.

Plus, with covers appearing in various sizes on the site and potentially on billboards, finding that sweet spot of legibility and visual impact is crucial.

Audiobook covers have their own unique challenges. They need to grab the listener's attention and convey the tone and genre of the book at a glance. A designer unfamiliar with these nuances may struggle to meet these requirements.

So, where can you find the experts? Online design marketplaces like 99designs or Upwork are great places to find talented designers specializing in audiobook cover design.

Hire a Narrator to Collaborate With

Audiobook narration is an essential element of producing a successful audiobook.

They can infuse characters with unique voices and personalities, convey emotions with their tone, and maintain a consistent pace throughout the book.

ACX is a popular platform that puts authors in touch with professional narrators.

Here are some tips to get started:

• Filter by genre, gender, voice, age, language, and more to find the right match for your book.
• Listen to samples of each narrator's work to understand their style and delivery.
• Contact your top picks and discuss payment.
• Decide between per finished hour, per word, or royalty-sharing payment options.

Promote Your Audiobook To Your Audience & Use Audible’s Marketing Tools

Promoting your audiobook is crucial to get it in front of more people. One key aspect is creating an eye-catching title and cover that will stand out in the crowded Audible library.

Another important consideration is selecting the right category for your audiobook to ensure it's easily discoverable by your target audience.

Launching your audiobook alongside your print book or ebook can also help generate passive income along with attention and interest in the audio versions.

Don't forget about podcasts! When you appear on a podcast, you can share your story and provide value to the host's audience.

Foster Reviews and Feedback

Next, tap into the power of "free" when launching. Websites like Freebooksy.com have a large audience of avid readers who are always looking for their next great read.

By submitting your free audiobook to these sites, you can get your book in front of those most likely to enjoy it. This can create a snowball effect.

As your book gains more reviews and climbs the rankings on these promotion sites, it will become more visible to readers and attract even more downloads and reviews, creating a self-sustaining cycle of buzz and exposure.

2. Become an Audiobook Narrator For Other Authors

Just as authors can hire narrators for their audiobooks, some people make a living by specializing in narration (don't miss our full guide on how to become an audiobook narrator).

To become a successful Audible narrator, you'll need to master several skills.

Think about it - you're narrating a scene with many different characters, each with a unique voice and personality. 

One moment, you might be voicing an old man with a deep, gravelly voice, and the next, you might be switching to a child's squeaky voice.

So if you have a background as a voice actor, you'll be at a unique advantage.

Stamina is another vital skill. Narrating audiobooks can be grueling, demanding that you sit in a recording booth for hours. You've got to have the mental and physical energy to stay focused and engaged throughout long recording sessions.

Research skills are also crucial. You may know a lot about some subjects, but you won't be an expert on everything you narrate. It's important to understand not only the words on the page but also the author's intent and the historical or cultural context of the story.

Finally, you've got to be tech-savvy. While you don't need to be an audio engineer, you've got to know your way around recording equipment and software. You should also understand sound editing to make your narration sound crisp.

Quick Overview of ACX

Here's a quick overview of how ACX works as a marketplace.

How To Get Started On Audiobook Creation Exchange (ACX) For Narrators

Follow these steps to get started as an Audiobook Creation Exchange narrator:

1. Set up your recording space: Quiet, soundproof space for reading aloud with good acoustics, mic, and recording software.
2. Create a profile: Sign up, and complete your profile with a bio, headshot, and samples of your work.
3. Browse projects: Check available projects and filter by genre, budget, and type.
4. Audition: Record and submit a short excerpt from the book that showcases your strengths and vocal range.
5. Negotiate terms: Agree on pay rate, deadline, and production schedule.
6. Record and submit audio: Follow ACX audio quality standards and submit finished audio files on time.

An Overview of ACX Quality Standards

To get approved, you’ll need to ensure you include section headers within the manuscript. This is for chapters, introductions, etc, to help listeners keep track of where they are. 

Along with this, you’ll also need to meet audio quality standards:

• Each file must measure between -23dB and -18dB RMS.
• Each file must have peak values no higher than -3dB.
• Each file must have a noise floor no higher than -60dB RMS.
• Each file must be 192kbps or higher 44.1kHz MP3, Constant Bit Rate (CBR).
• All files must be in the same channel format (All mono or all stereo files).
• Each file must be no longer than 120 minutes.

And unless otherwise clearly stated, your audio content must be human-created. Sorry, no text-to-voice AI voice generators allowed. 

3. Join Audible's Affiliate Program

For those who want to make money on Audible without being a professional Audible narrator or author, joining Audible's affiliate program might be the perfect fit for you.

Audible is a top provider in the audiobook industry thanks to its massive library of audiobooks and other audio content. And as an affiliate, you can earn money by promoting their products on your website or social media channels.

Instead, you can earn a commission by getting people to sign up for a free trial Audible subscription. That means you can start earning right away, even if your audience isn't ready to commit to buying something yet.

So what's the commission structure like? For every new Audible account that you refer, you'll earn $5.00. Plus, for every Audible Premium Plus Membership you refer, you can earn $10.00. And for every audiobook purchase you refer, you'll earn $0.50.

That might not sound like a lot, but the audiobook sales add up quickly if you have an engaged audience interested in audiobooks and other audio content. 

And with Audible's massive selection of titles, there's something for everyone.

How to Get Started with the Audible Affiliate Program?

Signing up for the Audible affiliate program is a breeze. The first step is to visit the Audible affiliate page and click on the "Join Now" button. From there, you'll be asked to create an Amazon Associates account.

You'll provide some basic information, including your name, email address, and website URL (if you have one).

Once registered, you'll receive an email with your unique affiliate link and access to various marketing materials to help you promote Audible's products.

With your affiliate link in hand, all you need to do is place it on your website, social media channels, or other marketing channels and start earning commissions on every new Audible member you refer.

4. Create Audio Content

It's no secret that podcasts are a big business. US ad spending will surpass $2 billion in 2023, accounting for one-third of all digital audio ad spending.

Podcasters can think of Audible as a vast ocean teeming with 55 million eager listeners waiting to be hooked by their content.

So, let's start with the basics. How can you make money on Audible if you're a podcaster? Well, there are several ways to monetize a podcast, including:

• Sponsorships: Companies pay to promote their products or services on your podcast.
• Advertising: You can run ads on your podcast and get paid.
• Premium content: Offer exclusive content to your listeners for a fee.
• Merchandise: Sell branded merchandise to your listeners.

But that's not all - as a content creator, you could work directly with Audible to produce exclusive "Audible Original" content.

This section includes everything from original dramas and comedies to non-fiction content and news.

One of the most interesting sections on Audible is the "Sleep" section, which features a range of relaxing audio content.

From guided meditations to soothing nature sounds, this section has something for everyone struggling to get a good night's rest.

And speaking of meditation, there's also a dedicated "Meditation" section on Audible that features a wide range of guided meditations designed to help you relax, reduce stress, and improve your focus.

How To Sell Audible Products and Services: Step-By-Step

To help your chances, here’s a step-by-step guide to good general common practices to follow when selling Audible products!

Let’s consider this both from the perspectives of the authors and a publisher outsourcing much of the work:

Step 1: Create or Acquire Your Audiobook Content

For Authors: Write your book. And if it's already written, you’ll need to convert it into an audiobook format.

For Publishers: Obtain rights to a book you wish to publish as an audiobook.

Step 2: Produce the Audiobook

Hire a Narrator: You can do this through platforms like ACX (Audiobook Creation Exchange), which help you find experienced narrators.

Recording: Ensure that the audiobook is professionally recorded. Quality is key in audiobook production.

Step 3: Submit Your Audiobook to Audible

ACX: You can use ACX; they streamline the process of uploading your audio files to Audible after production.

Quality Control: Audible will check the audiobook to ensure it meets its audio quality standards.

Step 4: Distribution

Audible Approval: Once approved, your own audiobooks will be available on Audible.

Marketing: You can use various marketing strategies to promote your audiobook, like the tools like KDSpy mentioned above - as well as social media promotion, email marketing, and other advertising channels.

Step 5: Sales and Royalties

Royalties: Understand Audible's royalty model. Depending on your agreement (exclusive or non-exclusive distribution), the percentage of sales you receive may vary.

Tracking Sales: Use the platform’s tools to track your sales and gather insights on listener behavior and preferences.

Step 6: Post-Sale Engagement

Reviews and Ratings: Encourage listeners to leave reviews and ratings, which can significantly influence the success of your audiobook.

Follow-Up Releases: Plan for subsequent books or series to keep your audience engaged.

But please do keep in mind that this is just a general overview. You’ll want to dig deeper into each step to make the most of it! 

Pros and Cons of Making Money With Audible

Audible provides some pretty significant advantages but also some disadvantages.

Pros:

1. Large audience: Audible is the world's largest audiobook platform, with millions of subscribers, providing access to a vast customer base.
2. Potential for passive income: Once an audiobook is produced and listed, it can continue generating royalties with minimal additional effort.
3. Attractive royalty rates: Audible offers competitive royalty rates, especially for exclusive titles (40% for authors, 20-25% for narrators/producers).
4. Audible's marketing power: Audible actively promotes popular and new titles to its subscriber base.
5. Accessibility: Audiobooks make books accessible to those with visual impairments or who prefer audio formats.
6. Professional production: Audible requires high production standards, ensuring quality audiobooks.

Cons:

1. Exclusivity restrictions: To get the highest royalty rates, authors must grant Audible exclusive distribution rights for a set period, limiting sales on other platforms.
2. Upfront costs: Producing an audiobook requires significant upfront costs for narration, studio time, editing, and other production expenses.
3. Audible's approval process: All audiobooks must go through Audible's quality control process, which can lead to delays or rejections.
4. Saturated market: With over 600,000 titles on Audible, standing out and getting discovered can be challenging, especially for new authors/narrators.
5. Limited control over pricing: Audible maintains control over audiobook pricing and promotions, limiting an author's ability to set their own pricing strategies.
6. Potentially lower earnings: For non-exclusive titles or those without an established audience, earnings may be lower than anticipated.
7. Dependence on Audible: Relying heavily on a single platform can be risky, as changes to Audible's policies or processes can significantly impact earnings.

FAQ: Making Passive Income With Audible

After all this, you may still have some burning questions. So here are some answers to the most common questions on the topic! 

Can I make money with Audible if I’m not an author?

As we’ve covered above, you can certainly make money on Audible without actually writing. For one, you can hire a ghostwriter to write for you. You can also work as a narrator. You can also be a producer, overseeing the editing, mastering, and quality control of audiobook recordings. And if you’re a rights holder or publisher, you’ll certainly be able to enjoy a ton of opportunities for passive income. 

Is there a cost to publish audiobooks on ACX?

Yes, there are some costs to publishing on ACX. Besides the variable production costs involved with hiring narrators, editing, and studio, there is also a fixed fee of $49 for each uploaded audiobook file. You’ll also need to pay a $24 management fee.  

How much commission can I earn through the Audible affiliate program?

The Audible affiliate program offers different fee structures for commissions on products and services sold. The Audible Gold Digital membership (for the successful registration of a paid Audible member) is valued at $10. Referring a free trial digital membership will get you $5. And you’ll earn $0.50 for every individual Audible audiobook sold. 

What makes a successful audiobook on Audible?

There are multiple factors that can play a role in the success of an audiobook on Audible. Of course, the popularity of the book itself will play a very significant role. And so will the marketing efforts behind the book, whether it’s the popularity of the author, word-of-mouth regarding the book, or specific efforts behind this particular book. The quality of the production can also play a role, although, as we’ve seen in this post, Audible has strict quality guidelines.  

Can I sell my audiobooks on other platforms as well?

Along with ACX and Audible, there are several platforms to sell your audiobooks. Some of the most notable mentions include Apple Books, Google Play Books, Chirp, Kobo, Libro.fm, Audiobooks.com, and of course, through your own website.

How to Make Money on Audible - Conclusion

The Audible platform is huge with tons of potential.

Creating audio books is not the only way to make money on Audible. You could also work as an audiobook narrator, promote Audible books as an affiliate marketer, create podcasts, or even pay others to narrate and sell audio versions of your books.

So what are you waiting for? Get those creative juices flowing and tap into this lucrative market!

For related reading, check out:

• Is Writing A Book Profitable?
• How To Make Money Writing A Book

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