ElevenLabs, a voice AI company, is now allowing authors to create and publish audiobooks using AI on its Reader app. This news follows their recent partnership with Spotify for AI-generated audiobooks.
After raising $180 million last month, ElevenLabs started an invitation-only trial for authors last year. Today, the publishing program is open to all authors.
The idea behind this platform is to make audiobook creation more affordable. Traditional studios can be quite expensive, making it hard for many authors to dive into audio.
ElevenLabs wants to compete with services like Audible, which are known for lower royalties for authors. On their platform, authors earn money when users interact with their audiobooks. If a listener engages for at least 11 minutes, authors get around $1.10.
During testing, users spent an average of 19 minutes listening to the books. ElevenLabs believes these payout rates are competitive, although they may change over time.
Currently, the payout system is available for English titles and U.S. authors. The goal is to expand to 32 languages supported by the platform in the future.
The company is also working on a marketplace for authors to sell their audiobooks directly.
Beyond just publishing, ElevenLabs offers AI tools for generating audiobooks. Their subscriptions range from $11 to $330 a month, making it more affordable than traditional studio time or hiring voice actors.
In addition, ElevenLabs has helped other audio platforms like Pocket FM turn text into audio, showcasing their experience in this field.
This strategy to host indie content aligns with CEO Mati Staniszewski’s vision to expand consumer experiences.
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