Should I Turn My Book Into an Audiobook Now?
Many people approach this question by weighing the short-term investment against the long-term earning potential. Here are a few reasons why, in many cases, that perspective may be too limited.
Chris Kling
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Audiobooks are becoming increasingly popular, and audio is currently everywhere, not least because of the rise of podcasts. Authors, self-publishers and publishers are therefore often faced with the question of whether an existing book should also be produced as an audiobook.
From a purely financial perspective, production costs should be weighed against the potential long-term earnings. In this article, however, we would also like to highlight a few additional factors that may help when making that decision.
Audio is a booming market
Audiobook revenue has been growing at double-digit rates year after year for some time now — and not only in Germany.
As a result, audiobooks are accounting for an increasingly large share of the overall book market, while other formats such as print books and e-books are growing more slowly or stagnating.
For anyone looking to benefit from these developments, entering the audio market can therefore be well worth considering.
Expanding your audience
Some people prefer listening, while others prefer reading. It is relatively uncommon for someone to both read and listen to the same title.
An audiobook can therefore reach people who may not have the time or opportunity to read the printed book or e-book.
Statistics show that many audiobook listeners enjoy listening while traveling by train or car, on their commute, relaxing at home on the couch, or doing household chores — especially at times when their eyes may already be tired.
Exactly how much is paid per download or stream depends heavily on the individual business model of the store or streaming provider.
An additional source of revenue
As mentioned above, audiobooks have become significantly more popular in recent years, particularly due to the growing use of audio platforms such as Spotify, BookBeat and Audible.
Publishing an audiobook therefore opens up an additional source of revenue from content that already exists.
Compared with the effort involved in writing an entire book, the additional step of making that work available in audio format is relatively small.
Brand building and authenticity
An audiobook can also help strengthen your brand as an expert or author and expand your audience.
This can be especially valuable for biographies or nonfiction titles where the author narrates the audiobook themselves.
But authors who actively market themselves through social media can also benefit, especially because audio content is particularly well suited to being shared across these platforms.
Which brings us to the next point:
Cross-format promotion
In many cases, the different formats in which a piece of content or a work is available — audiobook, e-book, print or even podcast — can generate promotional effects for one another across platforms.
In other words, a successful book promotion campaign can also increase audiobook sales. Likewise, a well-designed social media campaign for an audiobook can positively affect sales of the printed book.
In many cases, podcasts can also be included in this ecosystem.
It therefore makes sense to look at the project as a whole and to consider all available formats when analyzing marketing performance.
Accessibility
Last but not least, an audiobook can make your story more accessible to people with visual impairments or learning difficulties.
By offering your story in an accessible format such as an audiobook, you enable a broader range of people to experience and enjoy your work.
Interested in starting an audiobook production with us?
Learn more about the production and distribution services offered by our studios.
