How can you make your business more profitable? If a business has 100 titles available and each sells 30 copies per month, the business would bring in over $10,000 monthly. Audible charges around $15 per credit, and pays a royalty between 25 and 40 percent on each sale.īased on these numbers, an audiobooks business might expect to make anywhere from $3.75 to $6 per book sold.
For reference, assume a business has books sold on Audible, which is one of the largest audiobooks retailers. The profit potential for an audiobooks business is significant. How much profit can an audiobooks business make? A large number of audiobooks are sold through a subscription model by credit, with customers typically paying around $15 per credit. Many customers, however, don’t pay the full price of an audiobook. The cost of an audiobook can vary, but most are priced between $7 and $35 depending on length.
Businesses may earn a royalty per book sold, a flat fee per book produced, or a combination of the two. How does an audiobooks business make money?Īudiobooks businesses make money by producing and selling audiobooks. Most people read occasionally, and an increasing number of people are preferring to listen to books. With the proliferation of smart devices that can stream audio, the market for audiobooks is huge. They consist of the narrating and production costs of future books, with minimal overhead unless a business has its own studio. The ongoing expenses for an audiobooks business are minimal. What are the ongoing expenses for an audiobooks business? As a hybrid solution, business owners can outsource the narrating or some technical work for somewhere between these two costs. A shorter book that’s fully read, recorded and produced in house can cost as little as $450. To have all of this professionally done for a 90,000-word work can cost between $3,000 and $4,000. Because covers are small and simple, this is usually a minimal expense. Business owners may hire someone to design a cover, or they can design one themselves. (Audio rights to public domain works don’t have to be purchased, but these books are harder to sell because they can be accessed for free.)įinally, some cover art is needed. Business owners with limited capital can start by recording works of unknown authors and giving the authors a percentage of the sales, or owners can record their own works or public domain works. Rights for the most popular books can cost five- and six-figure sums, but rights to many other books can be had for little or nothing. Hiring a narrator may cost anywhere from a few hundred to a few thousand dollars, depending on the reputation of the narrator and the length of the book being recorded.įinally, the business must have audio rights to a book. Third, the business must have a narrator to read the work. A handheld microphone will make holding the script difficult while narrating. The microphone should be of the best quality possible, and it should be desk-mounted or come with a headset. This includes a computer, a microphone and recording/editing software. Second, the business needs recording and producing equipment. Whatever space is used, there should be no noise from other people, appliances, fans, traffic or anything else. More affordable options include finding a quiet office or setting up a silent space in your home. Renting or building a recording studio is the best option, but also the most expensive. The startup costs for an audiobook business are manageable, and it’s possible to start a business with very little capital if necessary.įirst, the business must have a space for recording. What are the costs involved in opening an audiobooks business? Luckily we have done a lot of this research for you.
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