1. The Size of the Audiobook Industry is Now a MultiBillion-Dollar Industry in the US.
Statista estimated in December 2004 that the size of the audiobook market was $800 million. Since then, audiobook sales growth has exploded due to the ability to download audiobooks from sites like Audible.com, iTunes and other sites. The size was estimated at 900 million U.S. dollars in 2009 and grew to 2.5 billion in 2017 in the US alone.
I your book is not an AudioBook you are leaving a ton of money on the table?
2. Book Experts are Listening to Audiobooks.
When people have a question, they go to the expert in their life. Chances are you know a car expert or house repair expert who is the first person you talk to when you have a problem with your care or house.
A book expert reads 50+ books a year. They are able to read so much because they listen to books while driving, working out, cooking, and everywhere else. If you have an audiobook, not only will you make money selling the audio versions, you’ll make additional money through the recommendations of book mavens who listened to the audio version.
3. Audiobooks Are Always In Stock.
You don’t need to worry about having your book in stock because a downloadable file is always there. One publisher recently released a title early due to the media buzz it was getting. There weren’t enough books printed in the first run to meet demand and by the time the media hype had blown over, no one was interested in the book anymore. Fortunately for the author, the book was available in audio version via instant download and, well, let’s just say he made a lot of money thanks to his audio version of the book.
4. Audio Books Boost Paper & eBook Sales.
If people love your audiobook, they’ll sometimes go back and buy a paper copy so they can underline it and show it off on their bookshelf. So not only do the book experts recommend the book to friends, but people will buy additional copies for themselves as well.
Amazon’s Whisper Sync is now causing this sales boost to apply to Kindle books as well.
5. Audiobooks Give You Access to a New Audience
There are millions of people in the world who hate reading, but love listening. These “non-readers” either can’t or won’t take the time to sit down and read a book. Perhaps they struggle with slow reading, dyslexia or are blind. Or they may be a busy CEO or reporter. When you have an audiobook, the pie of potential readers gets bigger, which is exactly what the publishing industry needs.
6. Having an Audiobook Makes You Easier to Find.
There are over 200,000 books on Audible and millions of books on Amazon.com. You still can break your book out of the crowd as an audiobook. Audiobooks put you on the digital map, making it easier to find your content. It’s easier for book lovers to discover your book among 200,000 other titles at Audible.com than it is to find you among millions of print authors online. You can stand out by being one of the minority of authors who produce their book in an audio version.
7. With Audiobooks You Can Budget Your Time and Money.
In the early 2000’s producing an audiobook was expensive and time consuming. Publishers could only afford produce their most popular titles in audio. Now, services like NewMediaProfit.com make producing an audiobook cheap and easy. Our experienced audio engineers find the right talent, take care of paying them at our contract price, handle all of the engineering to make sure the sound is correct and then our distribution experts get it placed on Audible, Apples, AudioBooks.com and many other distribution houses Worldwide. Then we handle the collection of fees from each and get you paid directly from us each month. All with no upfront cost of money or time to you!
8. Audiobooks Can Be Translated to Other Languages
English is the largest used Language but Spanish is the second largest used. Printing in another language and shipping to other countries can be very expensive. Turning an audiobook into another language can be relatively inexpensive, with no added inventory or shipping cost.
Many publishers still do audiobooks the old expensive way, which isn’t a problem as long as they make the audiobook. Unfortunately they often retain the audio rights and yet don’t pay to make the audiobook, which is the worst scenario.
The best scenario is for your publisher to pay to get the audiobook created.
The second best is where you record it yourself or go through a service like NewMediaProfit.com. Make sure when negotiating your next book contract, make sure you either demand that they make an audio version, or keep the audio rights for yourself.