In a groundbreaking move, Voice AI company ElevenLabs is now empowering authors to publish AI-generated audiobooks through its innovative Reader app. This development, first reported by TechCrunch and confirmed by the company, signifies a transformative step forward for the publishing industry. The initiative follows closely on the heels of ElevenLabs' collaboration with Spotify to offer AI-narrated audiobooks, further underscoring the company's commitment to enhancing accessibility and creativity in audiobook production.
Empowering Authors with Accessible Tools
Traditionally, producing an audiobook involved substantial investments, often requiring studio time and professional voice actors. However, ElevenLabs is changing the narrative by providing a more affordable and scalable solution. As confirmed to TechCrunch, the company’s mission is to offer cost-effective tools that democratize audiobook creation, making it accessible to a broader range of authors. The launch of this service comes after a successful trial phase where selected authors experimented with the platform. Starting today, this program is open to all authors, signaling a significant expansion of ElevenLabs' offerings. The move is not just a boon for creators but also positions ElevenLabs as a direct competitor to platforms like Audible, which, according to ElevenLabs, offers lower royalty rates.
Competitive Royalties and Market Expansion
Under the new model, authors will earn royalties based on user engagement within the ElevenLabs Reader app. Currently, the platform pays approximately $1.10 to authors for every listener who engages with an audiobook for more than 11 minutes. During the testing phase, the average listening time was recorded at 19 minutes per user, suggesting a promising potential for author earnings. ElevenLabs is initially rolling out these payouts for authors in the U.S. and for English-only titles. However, plans are in place to extend these opportunities to include titles in the 32 languages supported by the platform, broadening the scope for global participation.
A Marketplace for Creative Voices
Looking ahead, ElevenLabs plans to establish a marketplace where authors can directly sell their audiobooks. This initiative will provide authors with a new avenue to reach audiences and monetize their work, further enhancing the appeal of ElevenLabs' platform. The company’s strategy includes leveraging its AI technology to reduce production costs significantly. With subscription plans ranging from $11 to $330 per month, ElevenLabs offers a cost-effective alternative to traditional audiobook production methods.