Voice AI company ElevenLabs is now allowing authors to publish AI-generated audiobooks on its Reader app, which was confirmed by the company. This announcement comes shortly after the recent partnership with Spotify for AI-narrated audiobooks.
ElevenLabs, which recently secured a $180 million funding round, started inviting authors to participate in their publishing program through their app on a trial basis last year. This program is now open to all authors starting today.
The company shared with TechCrunch that their aim is to provide affordable tools for audiobook creation, offering an accessible alternative to studio production costs.
ElevenLabs intends to rival Audible by providing higher royalty rates to authors. Their audiobooks will be available within their Reader app, and authors will receive compensation based on user engagement with their content.
Currently, authors receive around $1.10 when users listen to an audiobook for at least 11 minutes.
During testing, the average user spent 19 minutes listening to published books on the app. While ElevenLabs considers these rates competitive, they acknowledge that they may change as the program expands.
Initially, payouts are available to U.S. authors for English titles only. Future plans include extending payouts to the 32 languages supported for audiobooks.
Furthermore, the company is developing a marketplace for authors to sell their content.
ElevenLabs offers paid plans ranging from $11 to $330 monthly, allowing authors and publishers to create audiobooks using AI technology, which is a more affordable option compared to traditional studio recording.
ElevenLabs has powered other audio platforms like Pocket FM and Kuku FM to convert text to audio content.
By shifting towards being a platform for more indie content, ElevenLabs aligns with CEO Mati Staniszewski’s vision of expanding into various consumer experiences.
