What do you think it would cost?
It's a professional reading/acting out a full book in a professional studio, with at least an editor, a production team, a corrector. And the market for audiobooks is still very minuscule.
It's a professional reading/acting out a full book in a professional studio, with at least an editor, a production team, a corrector. And the market for audiobooks is still very minuscule.
Not saying this is fair, but musicians often do economically sub-optimal things for the love of creation and because it is a passion. Hopefully, the musician also gets added revenue from concerts.
The voice performance doesnt get the fame nor after-performance revenue -- so naturally they are charging market rates for their time reading. Further, most of the credit/glory goes to the author, not the voice performer. I doubt most people know who the voice performer is on audiobooks.
> A song of Ice and Fire is $39 in Audible
Is this really surprising? Production costs for a single audiobook are _significantly_ less than something like a movie, but the audiobook is more than double the cost of seeing a movie?!? I straight up refuse to buy audiobooks based on the price alone. Ebook prices are bad enough, but audiobook prices are ludicrous.
Then the audiobook of "A song of fire and ice" is apparently 33 hours and 46 minutes, which is more than 3 times the average length [1], so just the narration production-cost is 3 times higher than the average audiobook.
So overall there's not so much left to make a profit, leave alone break-even.
> Younger people are more likely to consume audio format, as 57% of Americans younger than 50 listened to audiobooks in 2021.
I know I only have anecdata (I'm in that cohort), but that seems off based on my personal experiences and the people I know. Perhaps 2021 was an outlier?
> Over 23% of Americans listened to at least one audiobook in 2021, 15% more than in 2020.
This also seems off. Almost 1 in 4 Americans listened to an audiobook in 2021? That seems... high.
I couldn't find a link to the source data used to generate those statistics.
Based on your link, you'd be looking at something in the range of $24,000 for ASOIAF. Even if you double that you're looking at $48,000. If we factor in 50% (WTF?) rev share with Audible, that's ~2400 units to break even. And then they are clearing ~$20/unit after that. Yeah, I know I hand-waved a bunch of minutia, but my point is that the volume of sales needed to start making a profit, even considering a large rev share, isn't _that_ high.
I can't stack that against sales numbers, but I'll say this, even if it's a legit price based on costs and volume that it doesn't _feel_ legit to _me_. As a result, I won't buy audiobooks. I don't think I'm totally alone. I can't say much past that.
Yes. A book. That's one single book. As with anything, the majority will listen to a few popular titles like self-help books and Harry Potter.
No idea how you arrived at $24000 for ASOIAF and then decided to randomly double it
From the article in the post I was replying to[1]:
Audiobook production is a multi-step process that requires equipment, software, a studio, and a narrator. Depending on the cost and availability of each of these aspects, the price of producing an audiobook can vary.
* Generally, around 9,300 words of text equate to one hour of audiobook length.
* The average audiobook is around 10 hours long, containing close to 100,000 words.
* The average narrator charges around $200 per finished hour, meaning that the expenses on the narrator will amount to $2,000 for recording an audiobook.
* On top of that, it is necessary to either rent a studio where the recording will take place or invest in the equipment and sound production yourself.
* In either case, producing an audiobook will take between $4,000 and $8,000.
* Some companies offer a complete production service for a fixed price, usually at the $6,000 range.
Edison Research’s Share of Ear is a quarterly survey of Americans who are asked to keep a detailed one-day diary of their audio usage. Share of Ear utilizes a nationally representative sample of those age 13+. The sample for this study was 4,118
https://www.edisonresearch.com/the-spoken-word-audio-report-... or https://www.edisonresearch.com/solutions/the-infinite-dial/
https://publishingperspectives.com/2023/06/apa-report-audio-...
https://www.publishersweekly.com/pw/by-topic/industry-news/a...
That's ONLY production-cost, it doesn't take into account the royalty/license for the actual content-author and the cut the book-publisher takes for "publishing" it. I doubt that the author takes a smaller share just because the book was recorded instead of printed.
If you assume that production cost should make up max. 10% of that revenue (like the actual cost to design a cover and print a book), then the break-even shifts ALOT farther away...
> Yeah, I know I hand-waved a bunch of minutia, but my point is that the volume of sales needed to start making a profit, even considering a large rev share, isn't _that_ high.
Yeah, the scale is indeed hard to estimate, and I can't find ANY statistics on the actual volume-size of the market (actual amount a bestseller Audiobook has sold)
But the stat from the same source stating that "Audiobook revenue accounted for around 3.8% of the book publishing" is an indication that despite glorious growth-figures of the Audiobook industry, the actual market-size is still VERY small even in comparison to the book-publishing market.
AND at the same time, Audible controls ~50% of that market, and drives consumption with Spotify-like flatrate offers.
Making big upfront investments for Audiobook production seems to be a risky call for a publisher then. Unless you have a title like ASOIAF and set the price at 36 USD I guess ;)
So, let's assume Netflix. It has 247 million subscribers. You do the math.
An audiobook (and audiobooks in general) don't have that.