Voice AI company ElevenLabs is expanding its offerings with the launch of an audiobook publishing platform integrated into its Reader app. This move comes shortly after the company announced a partnership with Spotify for AI-narrated audiobooks.
ElevenLabs’ new platform aims to provide authors with a more accessible and affordable way to create and distribute audiobooks. The company claims its platform offers several advantages over traditional audiobook production methods:
- Cost-Effectiveness: AI narration eliminates the need for expensive studio time and voice actors, making audiobook creation more budget-friendly for authors.
- Accessibility: The platform streamlines the publishing process, making it easier for authors to bring their books to the audio format.
- Potential for Higher Royalties: ElevenLabs suggests its royalty model offers better rates than competitors like Audible, paying authors based on listener engagement.
Currently, the platform pays authors approximately $1.10 when listeners engage with their audiobook for 11 minutes or more. ElevenLabs states that this rate is among the best in the industry and is subject to change as the program scales. Payouts are currently limited to authors in the U.S. and English-language titles, but the company plans to expand support to other languages and regions in the future.
ElevenLabs also envisions creating a marketplace where authors can sell their AI-narrated audiobooks directly to listeners. This would provide an alternative distribution channel and potentially increase revenue opportunities for authors.
This initiative aligns with ElevenLabs’ broader strategy to expand its consumer-facing offerings. By providing tools for audiobook creation and a platform for distribution, ElevenLabs is positioning itself as a one-stop shop for authors seeking to enter the audiobook market. The company’s innovative approach could significantly disrupt the audiobook industry and empower more authors to share their stories in audio format.
