Over the past few years, audiobooks have been a booming business. In fact, not only has the form enjoyed steady growth in both the number of titles published and hours listened to, but also in monetary terms. With so many people on the go these days, audiobooks are an increasingly popular way to get information without having to do anything more than listen. In this blog, we will discuss how and why audiobook publishers make so much money.
Why Are Audiobooks Popular?
The audio format has been around since the early 1920s, but it wasn’t until the 1970s and 1980s that audiobooks gained significant popularity. Back then, cassettes were the primary way to listen to audio and they were used to listen to music and audiobooks. Audiobooks didn’t experience much growth.
However, when digital formats started becoming more mainstream, many people started preferring audiobooks over other formats. Since digital formats weren’t subject to degradation over time, people were more willing to purchase them than cassettes or vinyl records. Today audiobooks are popular because they’re such a convenient way to learn something while doing other things. You can simply play them while driving to work, or when going for a walk. Hence, people are more willing to pay hundreds of dollars to get their hands on their favorite audiobooks.
How Do Audio Book Publishers Make Money?
Audiobooks are a great money-making opportunity for both the author and the publisher. Considering the growing demand for audiobooks, many authors are reaching out to audiobook publishers to record and publish the audio versions of their work on different platforms such as Kindle, iTunes, and many more. These publishers not only charge authors for their services but also receive a share of the profit that the author makes when their audiobooks are sold.
Moreover, both the author as well as the publisher can make good money through subscriptions and other recurring payments. Some audiobook publishers sell subscriptions on their own websites too.
Get Your Audiobooks Published
If you’re an aspiring author, then you can also record audiobooks yourself or hire professionals to record them for you, then distribute them through different channels.You can reach out to us at Elite Music Studios. We provide a wide range of audio recording services in Miami, Florida. Our services include audio dubbing in Miami, audio post-production services, ADR recording, and much more. Get in touch with us for premium audio content creation.