A Complete Guide to Audiobook Pricing

You’ve put so much work into creating your audiobook, now it’s time to make sure it sells. A big part of selling your audiobook as an independent or self-published author is setting the right list price. Figuring out audiobook pricing can be challenging: you have to weigh a variety of factors to find the MSRP that will attract the largest audience while maximizing profits. As an author publishing with Author’s Republic, you can set your own audiobook MSRP, but how do you know where to begin? With our guide to audiobook pricing, you’ll find all you need to know about the cost of audiobooks, setting your list price, and more. 

Audiobook Pricing Basics

Before we dive into pricing your audiobook, let’s first talk about MSRP. What is MSRP? The manufacturer’s suggested retail price, or MSRP, for an audiobook is the suggested list price set by the author or publisher. At Author’s Republic, you as the author get to suggest the list price of your work. It’s important to note that while many retailers will honor the MSRP you set, they aren’t required to, and they can reject your suggested list price and assign an alternate one based on their own guidelines. Amazon, which owns Audible, for example, does not allow authors to set audiobook MSRPs and has its own set of pricing guidelines based on audiobook length. And because Amazon controls such a significant portion of the U.S. audiobook market – between 60-80%, according to FindLaw.com –  many authors use these benchmarks for their own pricing to stay consistent across distribution platforms. 

Audiobook Pricing Based on Length

• Under 1 hour: under $7
• 1 - 3 hours: $7 - $10
• 3 - 5 hours: $10 - $20
• 5 - 10 hours: $15 - $25
• 10 - 20 hours: $20 - $30
• over 20 hours: $25 - 35

How Much is an Audiobook Worth: Pricing Factors to Consider

While length is the primary factor influencing audiobook MSRP, there are other elements to consider. If you’ve been thinking about the cost of audiobooks and the right price point for selling yours, here are some additional aspects to take into account:

• How many audiobook copies do you expect to sell?
  Audiobook pricing is a balancing act, and the number of copies you sell plays a large role in your pricing strategy. If you anticipate selling a large volume of audiobooks due to high anticipation or a successful pre-sales marketing strategy, you may be able to set a lower audiobook MSRP and still make a profit. But if you set your price too low and the number of sales don’t make up for it, you could end up in the hole. 
  
  
• How much did it cost to produce your audiobook?
  Audiobook production budgets can vary greatly. Depending on the length of your book, whether you used a professional narrator or self-narration, your narrator’s per-finished-hour rate, how long it took to write your book, and more, all of these factors go into figuring out what you think your audiobook is worth, which can help you determine your MSRP. It’s helpful to take your production budget and work backwards to determine your audiobook pricing to ensure a profit. 
  
  
• What is the list price of similar audiobooks in your genre?
  Browse through audiobooks in your genre and compare the pricing. Who is your target demographic and what will they typically pay for an audiobook?
  
  
• What is the price of your eBook?
  Typically, an audiobook is priced around twice as much as its eBook counterpart, because audiobooks are more expensive to produce, requiring additional time, specialized talent, and equipment, among other factors. If you have an eBook available for purchase, is it selling well? If so, use that as a basis for pricing your audiobook. If not, you might want to adjust your MSRP accordingly. 
  
  
• What are your audiobook goals?
  You might set your audiobook pricing higher or lower, depending on what you hope to achieve with your audiobook. Do you want to sell as many copies as possible? Make as much money as possible? Or is your primary goal to gain exposure, grow your audience, and build your brand? 

Audiobook Pricing Tips for Authors

While there is no secret formula for setting audiobook MSRPs, the above questions and considerations can lead you in the right direction. We’ve also gathered a few additional helpful tips for determining the cost of audiobooks and your pricing strategy.

• Aim to strike a balance between too low and too high. Too low and you may lose credibility; too high and you may not make enough sales to earn a profit. Just like Goldilocks, you want your audiobook list price to be “just right” for your audience. 
• Be consistent across distribution platforms. No one likes finding a better deal on another site, so set one MSRP for your audiobook and stick with it. 
• Don't forget to think globally. We tend to be U.S. focused, but checking on the pricing of books in your genre across the world can be helpful for increasing your overall audiobook profitability. 

How to Set Your Audiobook Price at Author's Republic

Once you’ve done your research on how much is an audiobook worth and determined your ideal MSRP, you’re ready to put your audiobook pricing into action. Here’s a step-by-step guide on how to set your audiobook list price using the Author’s Republic platform.

1. Log into your dashboard.
   
   
2. Select 'New Audiobook' on the upper left-hand side of the screen.
3. Choose 'Distribute an Audiobook' and fill in your book's information, description, etc.
4. Fill out your book's metadata information. You will then see a field labeled 'MSRP' where you’ll list your audiobook's ideal price. You can enter any price you want, but, as mentioned earlier, the MSRP you select won't necessarily be used by all retailers. For example, you can set your desired audiobook MSRP at $15.99, and some retailers may list it at that price, but other platforms may reject that price and assign an alternate price based on their own guidelines.
5. That’s it! If you have any questions, you can always contact us and we’ll be happy to assist. 

Happy selling!