ElevenLabs has launched a groundbreaking new platform, enabling authors to create and publish audiobooks with ease. This innovative service allows authors to monetize their work directly through ElevenLabs' Reader app, where audiobooks will be accessible to a broad audience. Authors stand to earn roughly $1.10 when listeners engage with their audiobooks for 11 minutes or more, a strategic move aimed at rivaling Audible's lower royalty offerings.
Having previously powered audio platforms such as Pocket FM and Kuku FM, ElevenLabs is no stranger to turning text into compelling audio content. The company has now opened its publishing program to all authors, after a successful trial phase that began last year. During this period, the average user spent 19 minutes listening to books on the ElevenLabs app, showcasing the platform’s potential to engage audiences.
CEO Mati Staniszewski has ambitious plans for expanding ElevenLabs’ consumer experiences. Central to this vision is their commitment to providing affordable, accessible tools for audiobook creation. Authors can choose from paid plans ranging from $11 to $330 per month, utilizing ElevenLabs' AI technology to generate high-quality audiobooks. The company also aims to extend payouts to titles in all 32 languages it currently supports for audiobooks.
In an effort to broaden its reach and compete head-to-head with industry giants, ElevenLabs has partnered with Spotify for AI-narrated audiobooks. This collaboration further underscores the company’s intent to redefine the audiobook market landscape.
Currently, ElevenLabs offers payouts exclusively to authors in the U.S. and for English-language titles. However, with a recent $180 million mega-round of funding, the company is poised for further growth and expansion into additional markets.
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