Audiobooks are the fastest growing segment of publishing and although many authors choose Amazon's own ACX.com and Audible as primary channels, indie authors now have other options for self-publishing their audiobooks.
Step 1. Decide how to produce audiobooks
We started by trying to record an audiobook ourselves, but despite setting up sound-proofing, using a good quality microphone, pop-guard and recording software, the result was terrible.
Our second step was to look at professional narrators. We listened to hundreds of samples on Amazon’s ACX platform only to find that our chosen narrator was no longer available.
A couple of years later, as we published the latest book in a four book series, we decided to look at audiobooks again. Luckily, just as we had a commercial offer for the audio rights, we discovered Findaway Voices. We then had a tricky decision, since it would have been foolish to turn down the offer without being sure we could produce audiobooks ourselves.
They were offering wide distribution, including to Amazon/Audible (and now to Kobo and GooglePlay) and have a managed audiobook production process.
After various calculations and checks, we decided to produce the books ourselves and contacted Findaway Voices to propose a project for four audiobooks.
Step 2. Calculate how much audiobook production costs
Hiring a professional narrator or studio is the simplest way to a quality audiobook, but it requires significant investment. Production costs are normally calculated upon a rate per finished hour (PFH) basis and we used Findaway Voices’ calculator for this.
We estimated our costs for producing all four audiobooks in one go by dividing the total word count per book by 9,000 to get a rough number of hours for each audiobook, and then applied various PFH rates to get a range of costs.
Step 3. Calculate how much each audiobook is worth
We calculated estimates of profit per sale using Audible pricing. Audible initially sets the audiobook retail price according to the audiobook’s play length (until told of a lower price). Books loaded to Audible through Findaway Voices are non-exclusive, so receive 25% of the retail sale price, minus 20% commission for Findaway Voices.
Findaway Voices also distribute to channels with different models (Audible (25%), subscription (30%-40%) and ‘a la carte’ (40%-50%)) so rates are not standard for all sales. However, this calculation gave us some rough figures to work with.
Step 4. Calculate how many sales are needed to cover the production cost
We wanted to calculate the number of sales to break even and cover production costs, and how long this would take.
Number of sales to breakeven = production cost / estimate of royalty per sale
Estimating how long it would take to make that many sales was difficult without any figures to go on. We decided to use the number of ebook sales per month and to assume a percentage of these could be audiobook sales.
Recent reports from the USA suggest 1 in 5 adults now read audiobooks, so this gives a good figure to use.
1. Estimate number of audiobook sales per month = average monthly ebook sales / 5
2. Estimate number of months to breakeven = Number of sales to breakeven / Estimate number of audiobook sales per month
By checking these with a range of production costs (different PFHs), monthly ebook sales, and proportions of audiobook sales, we came up with a range of costs, payback periods and potential income. Having balanced this against our offer, we decided to go ahead.
Step 5. Get a recommended narrator
Audiobooks come in several forms, including:
- multi-voice dramatizations,
- multi-voice narration,
- single-voice narration,
- single-voice characterisations,
- author’s readings and more.
We asked Findaway Voices for a single voice narration and had to decide what type of voice we wanted so we could tell them and they could recommend a shortlist of narrators.
They quickly recommended several excellent narrators at different rates. Having a curated list was fantastic and far easier than spending weeks listening to hundreds of samples as we’d done previously.
We also checked some of the narrators’ earlier audiobooks to see what categories they were in, and what sort of following they had.
After providing sample scripts from the books and hearing the results, we decided on the talented and award-winning Tim Campbell, an American actor, opera singer, and narrator of over 260 books who does many great accents.
We could have asked for auditions from other narrators, or for a different set of recommendations but were sure we’d found our man, provided he was interested. Luckily he was and a recording of the start of the first book was made so we could agree the approach.
Findaway Voices then sent the contracts, which included delivery times. Since we had four books and wanted Tim to narrate them all we agreed a schedule that worked for everyone. And we were off.
Step 6. Quality check the books
After we gave the go-ahead Tim produced the audiobooks very quickly. As with every other format of the book, we did a proofread (or proof-listen) using high-quality noise cancellation headphones to check the recordings (since the majority of audiobook listeners would be listening on headphones).
We listened more than once, both with and without the book text. If we spotted anything, we noted what and where (including the timestamp so we could find it again), and evaluated them:
- Was there background noise/hiss/click etc? If we listened again did it still occur? If not then we didn’t ask for a change.
- If there was a minor change to the text, did it matter? If it made no difference to the sense, we didn’t ask for a change.
- Were the names said correctly? (If you have unusual names or particular pronunciations provide details beforehand.)
- Were there any odd pronunciations? Were they right for the accent and did they cause a problem?
- Was any text missed? Did it matter?
- If the narrator was using voice characterization, was it the right character’s voice for that speech? If not and it mattered we asked for a change.
- As a final check, we opened and listened to all the audio files in turn to check the volume level was consistent.
We were lucky in having top quality recordings with only a few minor adjustments to each book. These were listed in the portal with a timestamp in the notes section for each audio file. Our narrator picked them up and loaded updated audio files within hours. We then listened again and approved each book. We were invoiced a book at a time shortly afterwards.
Before they were distributed, Findaway Voices experts also checked the quality of the audio files to ensure they complied with the channels’ standards.
Step 6. Set up the book metadata, payment details and distribution options
While they were being recorded, we set up the books’ metadata. There are different ISBNs for library and retail editions (which Findaway Voices will help with if you don’t have your own).
Other data includes:
- title
- subtitle
- book description
- author
- publisher
- series
- awards
- abridgement
- grade level
- fiction
- BISAC categories
- language
- source copyright notice
- audiobook copyright notice, and
- other formats’ ISBNS (ebook / print for retail and library).
We also provided a cover at 2400x2400px as a png file. The metadata and cover were entered on the online portal and could be amended later (though Findaway Voices recommend telling your representative if you make changes after the books are distributed).
This included filling in an online tax questionnaire (allowing the equivalent of a W8-BEN USA tax form to be completed, which, if eligible, prevents 30% withholding tax being taken from all royalty payments).
Before the books are distributed, there is a one-off set-up fee of $49. Though if you load through Draft2Digital this does not apply.
We then agreed the distribution channels we wanted, and set our recommended price for library and retail, and agreed a timetable for distribution. Some channels can take a few weeks to list the books, so we took this into account.
We already had a programme of promotions in place for the ebooks and tried to match the audiobook releases with this. We were fortunate in having two BookBub promotions during this time.
We got some codes for free download copies for the books distributed to Amazon/Audible about 2-3 weeks after they went live and used these for giveaways, for bloggers and for promotions to help raise some reviews.
We offered some codes to Tim after learning that narrators rarely get offered any. We also provided followers with details of where the books could be downloaded for free if chosen as their first book by new subscriber.
Step 7. Receive the money
The different distribution channels have different turn-around times for paying royalties and pay at different rates. We receive two different reports from Findaway Voices: one is total number of sales, the other is a revenue report.
How did it go?
Findaway Voices found us a fantastic narrator and we can’t recommend Tim highly enough. His readings have been described as “awesome” with some listeners telling us they have fallen in love with his narration. This is easy to understand as we don’t think we can hear the books in any other voice now.
Working with Joanna and Kelly at Findaway Voices was a real pleasure. And we couldn’t be more pleased with the process or be happier that they found us a real star. We thoroughly recommend working with them and can’t wait to get started on our next project together as soon as the next book is ready.
Are you considering having your books created in audiobook format? Please leave your thoughts below and join the conversation.
You can find Findaway Voices at www.FindawayVoices.com, or through your Draft2Digital portal if you distribute through them.
View Comments (19)
By my understanding of your description; production costs, retail price, and royalty are all relative to the word-count. I believe this means the break-even number-of-sales would be similar for books of any length. So, that means the compelling question is: What number-of-sales to break-even did you come up with?
Hi David,
Unfortunately there isn’t a standard breakeven point. While book length/word count are a factor in calculating the production costs the PFH is variable and depends upon your budget. It can vary significantly from $0 PFH if you read the book yourself, to $100-$800 PFH (or more) for professional narrators.
The calculations to get to the breakeven are:
1 - Production cost = (number of words / 9000) * PFH rate
2 - Estimate of royalty per sale (based upon ACX) = ACX Price for audiobook length * .25 * .8
(ACX non-exclusive royalty is 25% of price from which you receive 80% through Findaway Voices.
ACX pricing: https://www.acx.com/help/what-s-the-deal/200497690
Currently ACX prices are: under 1 hour: < $7, 1 - 3 hours: $7 - $10, 3 - 5 hours: $10 - $20, 5 - 10 hours: $15 - $25, 10 - 20 hours: $20 - $30, over 20 hours: $25 – 35)
3 - Number of sales to break-even = Production cost / Estimate of royalty per sale
Here are some calculations for books of 2,5,10 and 15 hours long at PFH rates $100, $200, $300, $400 and $500.
Book length (hours) 2 -
At PFH rate $100 - Production cost for book $200 - Likely ACX Sale price range $7 - $10 - Estimate of royalty per sale between $1.4 - $2 - Number of sales to break-even 100 - 143
At PFH rate $200 - Production cost for book $400 - Likely ACX Sale price range $7 - $10 - Estimate of royalty per sale between $1.4 - $2 - Number of sales to break-even 200 - 286
At PFH rate $300 - Production cost for book $600 - Likely ACX Sale price range $7 - $10 - Estimate of royalty per sale between $1.4 - $2 - Number of sales to break-even 300 - 429
At PFH rate $400 - Production cost for book $800 - Likely ACX Sale price range $7 - $10 - Estimate of royalty per sale between $1.4 - $2 - Number of sales to break-even 400 - 572
At PFH rate $500 - Production cost for book $1000 - Likely ACX Sale price range $7 - $10 - Estimate of royalty per sale between $1.4 - $2 - Number of sales to break-even 500 - 715
Book length (hours) 5 -
At PFH rate $100 - Production cost for book $500 - Likely ACX Sale price range $10 - $20 - Estimate of royalty per sale between $2 - $4 - Number of sales to break-even 125 - 250
At PFH rate $200 - Production cost for book $1000 - Likely ACX Sale price range $10 - $20 - Estimate of royalty per sale between $2 - $4 - Number of sales to break-even 250 - 500
At PFH rate $300 - Production cost for book $1500 - Likely ACX Sale price range $10 - $20 - Estimate of royalty per sale between $2 - $4 - Number of sales to break-even 375 - 750
At PFH rate $400 - Production cost for book $2000 - Likely ACX Sale price range $10 - $20 - Estimate of royalty per sale between $2 - $4 - Number of sales to break-even 500 - 1000
At PFH rate $500 - Production cost for book $2500 - Likely ACX Sale price range $10 - $20 - Estimate of royalty per sale between $2 - $4 - Number of sales to break-even 625 - 1250
Book length (hours) 10 -
At PFH rate $100 - Production cost for book $1000 - Likely ACX Sale price range $15 - $25 - Estimate of royalty per sale between $3 - $5 - Number of sales to break-even 200 - 334
At PFH rate $200 - Production cost for book $2000 - Likely ACX Sale price range $15 - $25 - Estimate of royalty per sale between $3 - $5 - Number of sales to break-even 400 - 667
At PFH rate $300 - Production cost for book $3000 - Likely ACX Sale price range $15 - $25 - Estimate of royalty per sale between $3 - $5 - Number of sales to break-even 600 - 1000
At PFH rate $400 - Production cost for book $4000 - Likely ACX Sale price range $15 - $25 - Estimate of royalty per sale between $3 - $5 - Number of sales to break-even 800 - 1334
At PFH rate $500 - Production cost for book $5000 - Likely ACX Sale price range $15 - $25 - Estimate of royalty per sale between $3 - $5 - Number of sales to break-even 1000 - 1667
Book length (hours) 15 -
At PFH rate $100 - Production cost for book $1500 - Likely ACX Sale price range $20 - $30 - Estimate of royalty per sale between $4 - $6 - Number of sales to break-even 250 - 375
At PFH rate $200 - Production cost for book $3000 - Likely ACX Sale price range $20 - $30 - Estimate of royalty per sale between $4 - $6 - Number of sales to break-even 500 - 750
At PFH rate $300 - Production cost for book $4500 - Likely ACX Sale price range $20 - $30 - Estimate of royalty per sale between $4 - $6 - Number of sales to break-even 750 - 1125
At PFH rate $400 - Production cost for book $6000 - Likely ACX Sale price range $20 - $30 - Estimate of royalty per sale between $4 - $6 - Number of sales to break-even 1000 - 1500
At PFH rate $500 - Production cost for book $7500 - Likely ACX Sale price range $20 - $30 - Estimate of royalty per sale between $4 - $6 - Number of sales to break-even 1250 - 1875
I hope that helps. Good luck with your audiobook adventures.
Julia
Great article! I've been considering dipping my toe in the audiobook market by narrating my non-fiction and hiring a narrator for my fiction. With these costs in mind, I'm more committed to get the non-fiction done before the holidays. Thanks for the details!
Thank you Judith. It is an exciting time for audiobooks, both for fiction and non-fiction markets. Findaway Voices are continuing to grow and to develop and add new distribution channels and new promotion features. We've not looked back and hope you have similar success.
Cheers, Julia
how do I get in touch with an agents? I am very interested in finding out more information about your services.
Hi Kimberly,
Contact Findaway Voices through their website (https://findawayvoices.com/)
or if you use Draft2Digital (https://draft2digital.com/) then they have link to Findaway Voices from your account.
Good luck,
Julia
Is it possible to use Findaway voices and ACX together? By that I mean go through Findaway for the production and distribution to everyone except ACX/iTunes and then take the audio files direct to ACX (non-exclusive) as well?
The benefit of that being to save the 20% Findaway fee for the largest distributors?
You'd have to ask them about that :)
Hi, Marie! Not sure if you received your answer, but since I know new readers will want to know the same thing, I figured I'd answer.
The answer is: NO, you do not have to distribute through all their partners, which means, YES, you CAN continue to distribute through ACX. However, you must choose ACX's "non-exclusive" option.
https://help.findawayvoices.com/i29-do-i-have-to-list-my-book-with-all-of-your-partners
And thank you to "The Creative Penn" for posting this article. I've been looking for alternatives for a few of my audio books, and this helped me decide.
I've got an interview coming soon with Will Dages from Findaway Voices which will clarify things too.
Can you set Amazon prices with Findaway?
Unlikely - as Audible set their own prices.
i am sorry but I do not find your website that helpful. My main question is can an author distribute thru Findaway a book that the author has narrated him or herself? If so at what cost?
Best to ask Findaway directly - https://findawayvoices.com/pricing/
I'm considering using Findaway, but I was hoping to not have to invest in the production and take a smaller royalty as a result. I thought Findaway offered this?
They are developing a royalty share option similar to ACX but I don't think it is widely available as yet. Email them for more details!
Hi,
I published my book through ACX non-exclusive. I've also uploaded my audiobook to Findaway, so I can sell it through non ACX partners. Findaway is recommending a lower price for my audiobook than Amazon/ACX. If I charge the lower price on Findaway, will Amazon/ACX lower my price?
My concern is that if Amazon/ACX lowers my price my book will be less expensive than a monthly Audible credit, so I'll lose the sales I'm currently getting from Audible (if people don't want an audiobook that is cheaper than the price of their monthly credit).
So, does Amazon change audio price based on other what other sites charge for your audiobook, if those other sites charge less?
Thanks!
Brad
Hi Brad, No, Audible's pricing is based on length and other factors. Your price on Findaway won't make a difference — not from my experience anyway!
Nice article and explains everything very well. Exactly how I experienced it on FIndaway Voices
There are still more options though. There is also Authors Republic which has a great distirbution catalog and narrators. The downside with them is they only do exclusive and keep 30% of royalties.
But there is also e-Audio Productions which nobody really talks about and really seems to be better than Findaway Voices. More personal and real support where they trasnparently explain all the details you need to know as an author, great distribution options including setup and 100% of the royalties from the net sales from Audible. The quality is also better because the audiobooks are edited, mixed and mastered by their inhouse studio engineers. Overall it is a level up in service but around the same pricing.