ElevenLabs, a voice AI business, has confirmed to TechCrunch that it is now allowing authors to publish AI-generated audiobooks on its Reader app. Days after the business teamed up with Spotify to create AI-narrated audiobooks, the news was made.
ElevenLabs, which raised a $180 million mega-round last month, started inviting authors to try out their publishing program through their app on a trial basis last year, TechCrunch previously spotted. That program is newly open to all authors as of today.
In an interview with TechCrunch, the company verified the development and explained that the goal is to make audiobooks accessible and affordable, as producing them in a studio may have been far more expensive.
The website itself seeks to rival Audible, which ElevenLabs claims provides authors with lower royalties. According to its business plan, ElevenLabs will pay authors when users interact with their audiobooks, which will be available through its Reader app.
At the moment, it gives authors about $1.10 for every 11 minutes or longer that a listener spends with an audiobook.
According to ElevenLabs, during the testing period, the average user listened to the released books on its app for 19 minutes. These rates may vary as the program grows, even if the startup believes they are among the best in the sector.
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For English-only titles and authors in the United States, the compensation is available at launch. In the future, it hopes to expand rewards to audiobook titles in the 32 languages it supports.
Additionally, the business intends to establish a marketplace where writers can sell their works.
ElevenLabs’ larger potential is for publishers and authors to use its AI technology to create audiobooks through its subscription plans, which range from $11 to $330 per month. This is less costly than scheduling studio time and making payments.
Notably, ElevenLabs has already enabled the conversion of text into audio content on other audio platforms, such as Pocket FM and Kuku FM.
In keeping with ElevenLabs CEO Mati Staniszewski’s intentions to diversify into new consumer experiences, the company has decided to become a publishing and distribution platform in order to accommodate more independent content.
SOURCE: TECH CRUNCH
