In the blog article, AudioBook 1, I explained how I chose Findaway Voices to source a narrator for Members of the Cast. This article discusses cost.
Each narrator shows a fee Per Finished Hour (PFH) of recording. This means you pay for chapters that are ready for publication. One estimate is that 9,000 words equal approximately one hour of finished audio. Members of the Cast is 75,000 words, and my narrator estimated 8 hours. At a rate of $250, the audiobook will cost $2000. That is a good chunk of money, and I am not pretending to be rich. I have salted away some money and decided to do the project.
Amazon ACX suggests this scale: 5 – 10 hours: $15 – $25. I will probably charge $18, the price of a hardcover copy. Before you grab a calculator to figure that I need to sell 111 books to break even, remember royalties are not the total price of the book. If an audiobook is listed exclusively on ACX and iTunes, there is a 40% royalty. If you list your audiobook with other vendors, you receive a 25% royalty from ACX.
Listing a book or audiobook to other vendors is called “going wide.” I have tried both with the eBook Members of the Cast and wrote about my experience.
Findaway has an extensive list of vendors, plus libraries. It is as simple as ticking boxes to have Findaway distribute to these audiobook sellers.
The question would be, will wide sales make up for 15% less royalty at Amazon? Findaway’s distribution fee is 20%. That is not what you get. Let’s say Findaway’s deal with a vendor is 50%. On my $18 book, Findaway gets $9 from the vendor and gives me 80%, or $7.20. At that example rate, I must sell 277 audiobooks to break even.
Of course, after listening to Members of the Cast, I’m sure folks will rush to Amazon to purchase a print copy for their library!
Look at the list and think about where you get your audiobooks. For an in-depth analysis, read ACX vs. Findaway
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