Audible is a leading audio storytelling platform offering a vast selection of audiobooks and podcasts. Established in 1995 and acquired by Amazon in 2008, Audible now serves users in over 180 countries and supports 50 languages.
Given its extensive catalog with hundreds of thousands of titles, it’s no surprise that listeners flock to Audible. However, many wonder if they can also earn money through this platform. The answer lies in two main avenues: content creation and affiliate marketing.
Making Money on Audible through Content Creation
Creating audiobooks, narrating existing works, or securing funding for podcasts through Audible’s development program are all viable ways to monetize your skills.
Narrating Audiobooks
The Audiobook Creation Exchange (ACX) is the gateway for those looking to engage in audiobook narration. This marketplace connects authors, agents, publishers, narrators, and producers, providing opportunities to link with authors needing narration services. Currently, there are over 1,000 titles available for narrator auditions.
When working on ACX, you can structure contracts in multiple ways:
- Pay-for-production deal: A fixed fee for your narration services.
- Royalty share deal: You earn a percentage of royalties for each sale of the audiobook you narrate.
- Royalty share plus deal: An upfront fee combined with a royalty on sales.
Narrators on Audible can earn impressive royalties, sometimes up to 40%, depending on the distribution rights.
Creating Your Own Audiobook
If narrating isn’t your preference, consider creating and producing your own audiobook through ACX. This route is more beneficial if you have an established audience, such as followers from blogging or social media. However, even without a substantial following, creativity can still yield results.
For instance, a professional organizer might produce an audiobook detailing a seven-step process for decluttering. To promote this audiobook, joining topic-specific social media groups—like Facebook’s Decluttering & Organizing Tips & Tricks group with a million members—can effectively drive sales. Additionally, you can earn royalties on sales and up to $75 through Audible’s Bounty Referral Program for new memberships brought in from your promotion.
Audible Podcast Development Program
If you have a podcast idea, consider applying to the Audible Podcast Development Program, which offers a $10,000 commission to help bring your concept to life. This funding covers production costs, script guidance, and access to quality resources. Stay updated on their website for the next submission period.
Making Money on Audible through Affiliate Marketing
Affiliate marketing presents another opportunity to profit through Audible by promoting products and earning a commission for each sale made through your referral. Audible offers two distinct affiliate programs: the Amazon Associates Program and the Creator Program.
Amazon Associates Program
For over 18 years, the Amazon Associates Program has enabled you to promote products on Amazon. A recent expansion allows affiliates to earn commissions on Audible purchases. This program creates diverse profit opportunities, especially if you integrate advertising for both Audible products and related items.
For example, a travel blogger could promote travel gear and audiobooks, earning commissions on each sale. The fee structure for referrals through Amazon Associates includes:
- Audible Gold digital membership: $10
- Audible free trial membership: $5
- Audible audiobook purchase: $0.50
Creator Program
The Creator Program, specific to Audible, is designed for podcasters. You will earn $15 for every successful free trial membership you secure for Audible through your podcast. Promoting the 30-day free trial to your audience can significantly enhance your income, with monthly payments for commissions once you hit the $30 threshold.
Exploring Other Online Income Opportunities
If audiobook creation and marketing aren’t your forte, several alternative side hustles exist online. From freelance writing to drop shipping, the possibilities are vast for generating income in the digital landscape.
Monetizing Your Passion: How to Earn with Audible
Audible, the prominent audio storytelling platform, offers a plethora of opportunities for creators looking to generate income. With a vast selection of audiobooks and podcasts, it’s easy to see why many turn to this service. If you’re considering diversifying your income stream, there are two primary avenues to explore: content creation and affiliate marketing.
Maximize Earnings through Content Creation
There are various ways to produce content on Audible, such as creating your own audiobooks or narrating existing ones. Additionally, creators can leverage Audible’s resources to develop podcasts through specific programs.
Narrating Audiobooks
Audible’s Audiobook Creation Exchange (ACX) is an excellent platform for aspiring narrators. It connects narrators with authors, agents, and publishers seeking voice talent. Currently, there are a multitude of titles available for narration auditions, enabling you to gain exposure and build a portfolio.
Compensation models within ACX vary. You can choose from:
- Pay-for-production: A flat fee is provided for your narration work.
- Royalty share: You earn royalties based on the audiobook sales you narrate.
- Royalty share plus: A combination of an upfront fee and royalties for each sale.
Narrators can earn up to 40% in royalties depending on the agreements made, making it a lucrative venture for skilled individuals.
Producing Your Own Audiobook
If narrating isn’t your forte, consider producing your own audiobook. This approach works particularly well if you already have an audience through blogging or social media. For instance, if you’re an expert in any specific field, such as organization, you could create a guide on a topic like decluttering.
Even without a large following, there are numerous groups online where you can promote your work. Engaging in relevant social media communities can help you share your creation with interested listeners, converting them into customers while also allowing you to earn from sales and referral programs.
Podcast Development Opportunities
For those with a unique podcast concept, Audible offers a development program. This initiative can provide up to $10,000 towards turning your idea into a reality, covering production costs and offering valuable resources. While submission timelines may vary, staying updated on their website can keep you informed on when to apply.
Leveraging Affiliate Marketing for Added Income
Audible’s affiliate programs, including the Amazon Associates Program and the Creator Program, provide another avenue for earning. Affiliate marketing allows you to promote products and earn a commission for each sale generated through your unique referral links.
Amazon Associates Program
Being a part of the Amazon Associates Program allows you to promote Audible products and earn commissions. This platform is versatile; for example, a travel blogger can promote not only travel-related audiobooks but also associated products, such as luggage and travel essentials.
Commission rates for Audible referrals under this program include:
- Audible Gold Membership: $10
- Audible Free Trial Membership: $5
- Individual Audiobook Purchases: $0.50
Creator Program
Targeted at podcasters, the Creator Program offers payouts of $15 for every free trial membership that you successfully promote. This model encourages you to direct your podcast audience to sign up for Audible’s 30-day free trial, rewarding you for each conversion.
Building a passive income stream through affiliate marketing on Audible can be a sustainable way to monetize your content and audience engagement.
Exploring Alternative Online Income Streams
If audiobook creation and affiliate marketing aren’t your preferred methods, there are numerous other online opportunities. Consider freelance writing, graphic design, or selling digital products tailored to niche audiences. The internet is brimming with possibilities for monetizing your skills and creativity.
The key to success lies in choosing a path that aligns with your passion while also being receptive to exploring multiple avenues for maximizing your earnings.
