Every month I give my take on an article that influenced me for my "Article Of The Month". Feel free to submit articles that you want me to look at.
Have you ever considered what goes into the making of an audio book?
After carefully reading the article "Why Are Audiobooks So Expensive? 6 Factors For Their High Price" by Subodh Sharma I have to come to the conclusion that I readily agree with his opinion. He came up with six main factors of why they are so costly. I will list the factors below and explain why I agree with each. For a full run-down of his opinions, check out the linked article.
Narrator ~ Depending on who you want to read your book they have to be paid accordingly. The more famous the performer is, naturally, the more money they have to be paid. For example, Cynthia Nixon would charge much more than an unknown person reading an audio book.
You Need Production People ~ You need production people and editors to work on the audio book, otherwise you would have a pretty crappy audio book that nobody would buy.
People Buy Fewer Audio Books ~ They buy fewer audio books because audio books are expensive to buy and they probably also prefer to have a hard copy in their hands like my mom does. People love to display them in their homes, and a lot of traditional books have really beautiful cover art. As someone who is not physically able to pick up a traditional book, I'd love to see people moving more towards audio books so that the price is lowered and more people with disabilities can enjoy them. Also, let's not forget those individuals that prefer to listen rather than read a book, and those who like to get their reading done while in commuting to work.
Set Pricing From Audible ~ Depending on the length the audio book, Audible charges a certain amount, so the shorter your book the less expensive it will be. Authors don't have complete control over this at all.
Promotional Cost ~ Promotional cost is also taken into consideration, the popularity of the book and the way it is promoted can have an affect on the cost as well. For example, if you are a lesser-known author it's more costly to promote your book, and they collect dust underneath your bed- figuratively of course.
Audible's Cut ~ This is where I say an audible "ouch!" The last consideration for audio book length is Audible's cut itself. They take an exorbitant amount of money. Something like 80% of royalties go to Audible because they have a monopoly on the audio book industry.
Overall, I would love to have audio books lowered in price, especially books that have just come out because I would love to read them. I often don't get the chance because they are so expensive. Thank you for reading and happy listening!