According to TechCrunch, AI voice company ElevenLabs now allows authors to publish AI-generated audiobooks on its reader app. This follows the company's previous collaboration with Spotify to launch AI-narrated audiobooks.
ElevenLabs raised a massive $180 million last month. Having invited writers to test its publishing program last year, the program is now officially open to all authors. The company aims to provide affordable and easy-to-use audiobook creation tools to reduce production costs and compete with Audible, known for its lower royalty rates for authors.
Image Source: ElevenLabs
ElevenLabs' audiobooks will be available on its own app, paying authors when users interact with their content. Currently, listeners pay approximately $1.10 for 11 minutes or more of listening time. During the testing phase, the average listening time per user was 19 minutes. Initially, the service is available only to US-based authors and English-language books, but plans are in place to expand to 32 languages.
Furthermore, the company plans to create a marketplace for authors to sell their content. Its paid plans range from $11 to $330 per month, significantly cheaper than booking recording studios and paying voice actors. ElevenLabs already provides text-to-speech support for other audio platforms and is striving to become a publishing and distribution platform hosting independent content, aligning with the CEO's vision to expand consumer experiences.
