Regarding Audible

Regarding Audible

Hey, all. Brandon here, with what I consider to be some pretty exciting news. Many of you may remember when I wrote last year about my worries regarding audiobook royalties (particularly for independent authors). You can read it HERE, but some of the main bullet points are as follows:

I seriously worried about the opacity of reporting to authors about audio sales. We didn’t know what a sale meant, how much of an Audible credit was given to authors when a book sold via one, and how royalties were being accounted.I felt that the industry was taking advantage of authors because of their lack of powerful corporate interests to advocate for them. While video game creators and musicians get 70–80% (88%, in fact, on two major platforms) of a sale of their products in a digital platform, Audible was paying as low as 25%–with the high end being instead 40%.I felt I could have gotten a better deal for myself, but the entire state of this industry was seriously concerning to me. So, I made the difficult decision NOT to release the four Secret Projects on Audible, costing me a large number of sales, to instead try to bolster healthy competition in the space, highlighting some of the smaller Audible competitors.

I hoped this wake-up call would prompt change. I didn’t refuse to put my books on Audible out of retribution or to declare war; I did it because I wanted to shine as powerful a light as I knew how on a system that highly favored the audio distributors over the authors. I was convinced that the people at Audible really did love books and writers, and that with the right stand taken, I could encourage them toward positive change.

I’m happy to say that this stand has borne some fruit. I’ve spent this last year in contact with Audible and other audio distributors, and have pushed carefully–but forcefully–for them to step up. A few weeks ago, three key officers high in Audible’s structure flew to Dragonsteel offices and presented for us a new royalty structure they intend to offer to independent writers and smaller publishers.

This new structure doesn’t give everything I’ve wanted, and there is still work to do, but it is encouraging. They showed me new minimum royalty rates for authors–and they are, as per my suggestions, improved over the previous ones. Moreover, this structure will move to a system like I have requested: a system that pays more predictably on each credit spent, and that is more transparent for authors. Audible will be paying royalties monthly, instead of quarterly, and will provide a spreadsheet that better shows how they split up the money received with their authors.

This part looked really good to me, as I understand their decisions. I tried poking holes in the system, looking for ways it could be exploited, and found each issue I raised had already been considered. This doesn’t mean it’s going to be perfect, and people smarter than me might still find problems that I didn’t. However, I think everyone is going to agree the new system IS better. We will better be able to track, for example, how Audible is dividing money between books purchased with a credit and books listened to as part of their Audible Plus program.

It’s all very technical, but I have to say I’m impressed with the effort they have made. The people there listened to my complaints, and have tried to improve. I’m not at liberty to explain in its entirety their new structure right now, as they’re still tweaking it, but they did say I could announce its existence–and that I could promise new, improved royalties are on the horizon.

Now, before we go too far, I do anticipate a few continuing issues with the final product. I want to manage expectations by talking about those below.

What I’ve seen doesn’t yet bring us to the 70% royalty I think is fair, and which other, similar industries get.Audible continues to reserve the best royalties for those authors who are exclusive to their platform, which I consider bad for consumers, as it stifles competition. In the new structure, both exclusive and non-exclusive authors will see an increase, but the gap is staying about the same.Authors continue to have very little (basically no) control over pricing. Whatever the “cover price” of books is largely doesn’t matter–books actually sell for the price of a credit in an Audible subscription. Authors can never raise prices alongside inflation. An Audible credit costs the same as it did almost two decades ago–with no incentive for Audible to raise it, lest it lose customers to other services willing to loss-lead to draw customers over.

These are things I’d love to see change. However, this deal IS a step forward, and IS an attempt to meet me partway. Indeed, even incremental changes can mean a lot. When I was new in this business, my agent spent months arguing for a two-percent change in one of my print royalties–because every little bit helps. These improvements are going to be larger than two-percent increases.

Because of this, I will be bringing the Secret Projects to Audible very soon. I consider Audible to again be a positive force for the industry, and I have decided to shake hands with them. Audible has promised to release their new royalty system for all authors sometime in 2024, though I should be testing it in the next month or so.

And…if you’ll allow me a moment, I’d like to say that this feels good. It isn’t what I wanted, but I’d begun to think that nothing would ever change–that even my voice, loud though it can be, wouldn’t be enough. Yet change IS possible.

I know that there are plenty of people out there who are tired of hearing about me and my works (I’m sorry–I do have quite the group of evangelists, and we can be an enthusiastic lot). However, for better or for worse, I am one of the bestselling authors in the world. Historically, one of the best ways to change things in my industry is for authors like myself to force it to happen.

Feeling this responsibility, when I was first talking to Audible about these issues in 2022, I made it very clear that I wasn’t just seeking some quiet deal that gave me an individual advantage. I wanted to see positive change for all authors. And while I don’t think I can take sole credit, I do feel like my efforts this year have had a significantly positive effect. Soon every independent author who publishes on Audible (and maybe, eventually, traditionally published authors with the huge publishers–depending on what New York decides) will be getting a larger cut of the profit, with more transparency about how that cut is allocated.

So, for those who have been waiting until Audible had the Secret Projects, you’ll get your chance soon. I hope you’ll support them, and support Audible for their decisions. And thank you to all of you who shared the news about my problems with the audio industry last year; I believe that pressure really did help. This is a victory for all of us, because happier authors able to make a better living (particularly those authors who are struggling in the midlist trenches) make for a more vibrant world for everyone.