ElevenLabs Now Enables Authors to Produce and Release Audiobooks Directly on its Platform

Voice AI company ElevenLabs now allows authors to publish AI-generated audiobooks directly on its Reader app, as confirmed by the company and reported by TechCrunch. This announcement follows its recent partnership with Spotify for AI-narrated audiobooks.

Expansion of Audiobook Publishing

Last month, ElevenLabs secured a $180 million funding round. The company initially launched its audiobook publishing program on a trial basis last year, inviting select authors to participate. As of today, the program is officially available to all authors.

ElevenLabs confirmed the launch to TechCrunch, stating that its goal is to offer cost-effective and accessible audiobook creation tools, which would typically require expensive studio production.

Competing with Audible

The platform is designed to rival Audible, which ElevenLabs argues provides lower royalty rates to authors. Instead, ElevenLabs will distribute audiobooks through its own Reader app, compensating authors based on user engagement.

At present, the company pays authors approximately $1.10 when a listener engages with an audiobook for at least 11 minutes.

During the testing phase, ElevenLabs reported that users spent an average of 19 minutes listening to published books on its app. While the company believes its payout rates are among the best in the industry, it acknowledges they may be adjusted as the program expands.

Expanding Payouts Globally

Initially, payouts are available only to U.S.-based authors and apply exclusively to English-language titles. However, ElevenLabs plans to extend payments to audiobooks in all 32 languages supported by its platform in the future.

ElevenLabs also intends to launch a marketplace where authors can sell their audiobooks.

A major opportunity for the company lies in offering AI-powered audiobook creation through its paid plans, which range from $11 to $330 per month. This approach is significantly more cost-effective than hiring voice actors and booking studio time.

ElevenLabs has already provided its AI-driven text-to-audio technology to platforms like Pocket FM and Kuku FM. Expanding into publishing and distribution aligns with CEO Mati Staniszewski’s vision of broadening the company’s reach into consumer-focused experiences.

Read the original article on: TechCrunch

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