ElevenLabs Launches Audiobook Publishing Platform

ElevenLabs Launches Audiobook Publishing Platform

ElevenLabs, a leading voice AI innovator, is now enabling authors to directly publish audiobooks created with artificial intelligence through its dedicated Reader application. This development was recently reported by TechCrunch and subsequently verified by the company itself.

Recent Partnerships and Program Expansion

This announcement follows closely on the heels of ElevenLabs’ recent collaboration with Spotify, focused on AI-narrated audiobook offerings. The company initiated a trial publishing program last year, extending invitations to authors to test the functionality within the app.

As of today, this program has been broadened, becoming accessible to all authors interested in utilizing the platform.

Addressing Audiobook Creation Costs

ElevenLabs confirmed to TechCrunch that the primary goal is to deliver cost-effective and readily available tools for audiobook production. Traditional studio production can be significantly more expensive.

The platform is positioned as a competitor to Audible, with ElevenLabs asserting that its royalty structure is more favorable to authors.

Revenue Model and Author Compensation

Audiobooks published through ElevenLabs will be distributed within its Reader app. Authors will receive compensation based on user engagement with their content.

Currently, the payout rate is approximately $1.10 for every 11 minutes or more of listener engagement with an audiobook.

During the testing phase, the average user dedicated 19 minutes to listening to published books on the app. While these rates are currently competitive, ElevenLabs acknowledges they may be adjusted as the program expands.

Initial Availability and Future Plans

Initially, payouts are limited to authors based in the U.S. and publishing titles exclusively in English. The company intends to broaden payout eligibility to encompass titles in the 32 languages currently supported for audiobook creation.

Furthermore, ElevenLabs is developing a marketplace where authors can directly sell their audio content.

Leveraging AI Technology for Audiobook Production

A significant opportunity for ElevenLabs lies in enabling authors and publishers to generate audiobooks utilizing its AI technology through its tiered subscription plans, ranging from $11 to $330 monthly. This presents a more economical alternative to traditional studio bookings and voice actor fees.

The company’s AI has already been integrated into other audio platforms, including Pocket FM and Kuku FM, to facilitate text-to-audio conversion.

Expanding Consumer Experiences

This move to establish a publishing and distribution channel for independent content aligns with the vision of ElevenLabs CEO, Mati Staniszewski, to broaden the company’s reach into more direct consumer-facing experiences.