Sales of audiobooks are increasing steadily and point to a bright future
It takes total concentration to read a book or an ebook. But with an audiobook, a listener can multitask.
This is the key attraction for so many younger readers in particular.
It lets readers listen to a book while they are driving, commuting, playing a game on a smartphone, knitting or even while grinding out their hours at work.
The popularity is on the move and according to recent statistics, audiobooks are now a multi-billion dollar industry in the US alone.
There are now many award-winning titles available in audio such as Harry Potter and the recent success, Girl Wash Your Face.
Science fiction and romance are two of the most popular genres in this format.
In another report, it estimates that one in ten readers are now listening to audiobooks.
The data helps to gain a small insight into the market. It is easy to draw an assumption that it is the next logical step for self-publishing authors and small press.
Ebook publishing is now the number one form of self-publishing. Many Indie authors then take the next step and publish a paperback version.
But both of these markets are saturated and becoming more difficult to leverage successfully.
In addition, ebook subscription services, and in particular, Kindle Unlimited (KU) is eroding author’s incomes.
In the case of KU, Amazon KDP Select exclusivity is also a huge issue for many authors who shudder at being totally dependent on Amazon for their earnings.
Self-publishing audiobooks offers a new opportunity for authors to extend their sales potential. And at the same time, diversify revenue streams.
Well, only a little at present. It is currently an Amazon Audible and Apple iTunes dominated retail market. However, in the future, this may change as more players enter the market.
If you are ready to take the next step in self-publishing, then you will need to know what to do to get an audio version of your books out to new readers.
It is not as quick and easy as publishing an ebook, so it won’t be for every author. But for some, it will be worth the time and effort involved.
How to self-publish audiobooks
If you live in the US, you are in luck.
Amazon offers production and publishing through Audiobook Creation Exchange, (ACX) to help you create an audiobook and publish the final product.
For authors outside of the US, things are not quite so easy.
This is a very common complaint about Amazon and its US-centric approach. It often creates so many hurdles for non-US self-publishers.
The following quote is taken from Amazon’s help topic regarding ACX.
At this time, ACX is open only to residents of the United States and United Kingdom who have a US or UK mailing address, and a valid US or UK Taxpayer Identification Number (TIN).
For more information on Taxpayer Identification Numbers (TIN), please visit the IRS website. We hope to increase our availability to a more global audience in the future.
If you live in the UK, Amazon can help you, but you will need to have a TIN. If you are already publishing with KDP, you probably have one.
For the rest of the world, well, Amazon, as it so often does, leaves you out of the cold.
How cold? Well, even though I publish with Amazon KDP, I still have no way of subscribing to Kindle Unlimited because I don’t live in a KU country. Hhmmpphh!
Audio publishing outside of the US and UK.
Luckily, there is still a publishing world outside of Amazon.
There are a growing number of small press and independent publishers who offer to produce and publish audio books.
Distribution is most often on Audible, Amazon and iTunes.
Do your research and look for publishers who accept submissions or offer a production service using professional narrators and producers.
As with any decision to use a small publisher, be careful. Do your background research and don’t rush into signing a contract until you are totally convinced it is a fair arrangement concerning your audio rights.
While some may charge you for the service to pay the narrator, it is worth looking for a publisher that offers a revenue split or royalty share. This is usually a 50-50 royalty rate split of net earnings.
It might seem a bit steep, but Amazon ACX offers between 20 and 40% net royalties. So 50-50 is not too bad.
If you would prefer to do everything, it is possible to record your own audiobooks.
You will need to create an audio file for your book by narrating your audiobook yourself. Once you have your book audio recorded, you can then publish.
Here is a link to the steps you need to take.
It is still early days
If you are serious about getting your books out to more readers, or in this case, listeners, then you should be looking at what choices you have.
It can only be a positive move to add an audio version to your ebook and paperback.
Simply from a practical point of view, audiobooks are convenient for book buyers as they allow them to consume a book while doing other things.
This is a huge benefit in the busy lives we lead nowadays.
Depending on where you live, investigate the options available to you and give some thought to publishing an audio version.
The market is still young, so there is no rush.
However, as with all new markets, getting in early is always better than arriving late.
Author’s Footnote: I always try to write my articles from my first-hand experience.
In this case, I can say that I have been through the whole process of finding a great publisher and then waiting for the months it takes for audiobook production.
But finally, it has all been worth the wait to see my finished audiobook released on Amazon, Audible and Apple iBooks.
It’s also reassuring to see a few reviews arrive on Audible quite quickly. So will I do it again? Oh yes.
Related reading: How To Find Amazon Keywords For Kindle Ebooks And Books