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ElevenLabs Unveils Free Audiobook Publishing Platform

ElevenLabs, a pioneer in artificial intelligence-driven audio technologies, has introduced ElevenReader Publishing, a new service aimed at transforming how audiobooks are produced and shared. This innovative platform allows rights holders to convert their written works into AI-generated audiobooks at no cost. By uploading their manuscripts in formats such as ePub, DOCX, or PDF, authors and publishers can select their preferred narrator’s voice, creating a customized auditory experience for listeners. The finished audiobooks will be accessible for free on the ElevenReader App, available on both Apple and Android devices.

During its beta testing phase, ElevenLabs has committed to compensating U.S.-based authors writing in English $1.10 for each audiobook engagement exceeding 11 minutes. Early user feedback revealed that the average listener spent about 19 minutes engaged with content on the platform. Additionally, authors can utilize the platform’s analytics features to monitor listener interactions. They maintain full intellectual property rights over their works, without any exclusivity constraints, and can make updates to their audiobooks whenever necessary.

Jack McDermott, who oversees mobile growth at ElevenLabs, described the initiative as a “free audio self-publishing platform” and noted that the associated app also incurs no costs for users. When queried by PW regarding the sustainability of such a business model, McDermott explained, “We generate revenue through our various business avenues, including serving enterprise clients and major publishers with larger projects.”

With a valuation of $3.3 billion since its inception in 2022, ElevenLabs has plans to expand its offerings further. McDermott indicated that the company aims to implement subscription models for listeners and develop a marketplace where authors and publishers can monetize audio content. He also mentioned that ElevenLabs intends to take a smaller cut from sales compared to traditional audiobook platforms such as Audible, Kobo, or Apple Books. Furthermore, the company plans to extend its payment system to cater to the 32 languages it supports.

Currently, the ElevenReader Publishing platform primarily targets self-published authors and smaller publishing houses. “Our free distribution model presents an advantageous opportunity for them to create audiobooks for titles that otherwise might lack audio versions,” McDermott emphasized. He added that as the platform expands, it will aim to include content from larger publishers, aspiring to become a comprehensive resource for quality audio material.

This launch represents the latest evolution in ElevenLabs’ publishing and distribution efforts. The company has previously collaborated with notable entities such as MIT Tech Review and influencers like Andrew Huberman and Arianna Huffington to feature stories within its app.

In addition to its free publishing service, ElevenLabs provides a professional AI audio studio feature, giving authors the ability to create tailor-made audiobooks with precise control over elements like pronunciation, pacing, tone, accents, and voice selection. This premium service starts at $99 monthly, allowing approximately 500 minutes of audio production. Authors can also export high-definition audio files for distribution through Findaway Voices/Spotify, a new program that launched last week, alongside the ElevenReader app.

Source
www.publishersweekly.com