ElevenLabs Launches Audiobook Creation and Publishing on Its Platform

Voice AI company ElevenLabs is now opening the doors for authors to publish AI-generated audiobooks directly on its Reader app, a move confirmed to TechCrunch just days after their partnership with Spotify for AI-narrated audiobooks was announced.

Last month, ElevenLabs secured a whopping $180 million in funding, and they've been quietly inviting authors to test their publishing program through the app since last year. Now, as of today, the program is fully open to all authors eager to dive in.

The company's goal is crystal clear: to offer an affordable and accessible way for authors to create audiobooks, which traditionally could break the bank with studio production costs. ElevenLabs sees itself as a competitor to Audible, criticizing the latter for its lower royalty rates. Instead, ElevenLabs promises to pay authors based on user engagement within its own Reader app.

Currently, authors earn about $1.10 when listeners spend 11 minutes or more with an audiobook. During the testing phase, users averaged around 19 minutes per session, which ElevenLabs boasts as one of the best rates in the industry, though these might shift as the program grows.

For now, payouts are available to U.S. authors for English-only titles, but ElevenLabs has its sights set on expanding to all 32 languages it supports for audiobooks. They're also planning to launch a marketplace where authors can sell their content directly.

The real game-changer for ElevenLabs is its AI technology, which allows authors and publishers to create audiobooks at a fraction of the cost of traditional studio recordings. With paid plans ranging from $11 to $330 per month, it's a much more budget-friendly option than hiring voice actors and booking studio time.

ElevenLabs has already made waves in the audio content world, powering platforms like Pocket FM and Kuku FM to convert text into engaging audio. This latest move to host indie content on their platform aligns perfectly with CEO Mati Staniszewski's vision to enhance consumer experiences further.