The platform's goal is to provide accessible tools for audiobook creation and distribution, with a focus on indie content. ElevenLabs has already supported other audio platforms like Pocket FM and Kuku FM in converting text to audio. The company's expansion into publishing and distribution aligns with CEO Mati Staniszewski's vision to enhance consumer experiences. The initiative is currently available for U.S. authors with English-only titles, with plans to broaden its reach as the program grows.
Key takeaways:
- ElevenLabs is allowing authors to publish AI-generated audiobooks on its Reader app, following a partnership with Spotify for AI-narrated audiobooks.
- The company offers authors a payout of approximately $1.10 when listeners engage with an audiobook for 11 minutes or more, with plans to expand this to 32 languages.
- ElevenLabs aims to compete with Audible by providing more favorable royalty rates and plans to create a marketplace for authors to sell their content.
- The company offers paid plans for authors and publishers to generate audiobooks using its AI technology, which is more cost-effective than traditional studio production.