ACX or Audible.com, made an announcement last week that caused me to speed up my schedule. They are cutting the authors’ profits on audiobooks, starting next week on March 12, 2014. Currently, the profits are from 50 to 90% on an escalating scale. The more audiobooks sold, the higher percentage of profit goes to the author or/and producer.
I’ll explain author or/and producer. When a person decides to have her book made into an audiobook with ACX, she can choose to share only with ACX by paying her narrator a set amount per hour, OR she can choose to find a narrator willing to split her percent of the profit 50/50.
As for me, I don’t much like sharing my profits, such as they are. Bad enough I have to hand over 50% (soon to be 60%) to ACX. But to then divide what’s left into two pieces? Not if I can help it.
So. I contacted the narrator of my first venture, The Hounding, and she agreed to go again. I pay her her hourly rate, and she turns in a great product, on time.
I take home my half of the royalties. The Hounding went on the market less than two months ago. I’ve already collected my first royalty payment.
Audiobooks are becoming more and more popular. ACX sees this, and therefore decides to take advantage. They are a business, not a charity. They distribute through Audible.com, iTunes, and Amazon. They’re the main game in town at the moment. I’m particularly enamored of the WhisperSync technology, whereby a person can buy both the Kindle version and the audiobook, and go back and forth between them without losing his place. Read or listen, or both. My books have this technology.