When you see the outrageous pricing of audiobooks, you can't help but ask what's so special about them. They are, after all, simply audio files. They don't even have to produce numerous copies of them, as opposed to actual books. Produce it once, and you're done with production labor for the rest of your life!
So, why are audiobooks so much more expensive than e-books and print books?
I would be answering that question in a minute, but first, let me introduce you to the best Digital Marketing company in Dubai: The Watchtower, a company that aims at providing valuable solutions and information to its clients about SEO, content creation, mobile app creation, web development Dubai and website creation in Dubai.
Let us now get back into the reason why we are here: Why audiobooks are so expensive!
The primary reason audiobooks are so expensive is due to their high manufacturing costs. An audiobook's 'cost per finished hour is between $300 and $400 on average. So, even if an audiobook is just 10 hours long, it would cost around $3000 to $4000 to make.
However, this might vary greatly based on the narrator's celebrity and personality (s). In many situations, publishers engage well-known actors and celebrities to promote the audiobook. This can raise the audiobook's "cost per finished hour" to $1500 or even more.
What factors contribute to their high production costs?
Making an audiobook necessitates the efforts of several experts, all of whom must be compensated. Aside from the Narrator(s), recording engineers, audiobook editors, and mastering engineers all play important roles in the creation of a high-quality audiobook. And this significantly raises the entire cost of production.
Here are six essential aspects to keep in mind that determine the pricing of an audiobook.
1. The volume of sales is rather low
When you look at the sales volume of popular audiobooks, you can tell they're doing well. However, with thousands of audiobooks published each year, it becomes increasingly difficult to maintain sales for other mediocre audiobooks (About 50,000 audiobooks were produced in 2017 in the United States alone) So, when the sale is low, each sale is important, not just to earn a profit, but also to recover the manufacturing cost.
2. The audiobook's narrator(s) or voice artist(s)
The quality of narration in audiobooks is just as essential as the tale itself! The narrator is responsible for bringing the book to life. A skilled narrator is essential for keeping listeners engaged. So, it is logical that narrators with greater expertise, ability, and fan following (in the case of famous personalities) charge more for their services. Multiple narrators are often engaged to play various characters in the same book. In that situation, the price inevitably rises.
3. Recovering promotional costs
It will not sell on its own, whether it is an e-book, a physical book, or an audiobook. Some promotional activity is required to inform readers or listeners about the availability of the book. As a result, a portion of the price may involve the recoupment of money spent on marketing.
4. Professionals like Audiobook editors, recording engineers, and mastering engineers
Audio Engineers work in the recording and editing studio. These specialists play a critical role in ensuring that the audiobooks pass the quality inspection. For example, Audiobook Creation Exchange (ACX), an Audible-owned firm that connects and creates audiobooks for professional narrators, writers, agencies, publishers, and rights holders, has some extremely stringent technical criteria for audio quality. The audiobook may be rejected if these expectations are not fulfilled. As a result, the audiobook will not be available for purchase on Audible, Amazon, or even iTunes.
Audiobook editors, recording engineers, and mastering engineers ensure that the audiobook standards and quality check go off without a barrier.
5. The Audiobooks' Length
Even if an author wants to make the price of his audiobook as cheap as possible, this may not be achievable. In terms of pricing, Audible uses a sliding scale dependent on the duration of the audiobook. As a result, even if the production cost is minimal and the author wishes to start with a cheap price to maximize sales volume, Audible's pricing policy may not allow it.
Here's how Audible usually determines the pricing of an audiobook depending on its length:
The Audiobook's Length
Under 1 hour - less than $7
1 to 3 hours - $7-$10
3-5 hours - $10-$20
5-10 hours - $15-$25
10 to 20 hours - $20-$30
Over 20 hours - $25-$35
Did you enjoy reading this?
Well, I sure hope that you didn’t just enjoy but you also learned something important here and that I have been able to answer your question as to why Audiobooks are relatively more expensive.
Remember that The Watchtower Dubai is just a click away from getting you the best website, SEO on your website, and getting your business out there.