A lot of busy people today have the huge life tempo. Today spending the whole evening under a wrap with favourite book is a really rare luxuriance. So reading has become more on-the-go activity. People rather do it on the way to work or during the dinner break.
Listening of books instead of reading them is not a new phenomenon and the world of mobile technologies has something to say. Using audiobook applications you can listen to your favourite book on the way to work, in a queue or while you do the cleaning.
Previously, you were obliged to download the audio book file and listen to it on your audio player. This approach is a bit out-of-date now because it doesn’t provide any services that users need now (suggesting books according to preferences, online playing and so on). That’s why special audiobook applications are more prefered by users today.
The most popular among audiobook apps is Audible. It has 4.5 stars on Itunes and over a billion hours of audiobooks download every year. Such success has obtained our attention so let’s puzzle out how to build an audiobook app like Audible. We will also estimate some challenges that developers should face while creating such a great and, truly speaking, complicated product.
Why to create?
Audiobooking is the fastest growing segment of publishing industry. A lot of publishers now consider audiobooks not just a lazy way of getting information but the entire genre of storytelling. Investors also know that this segment can bring a lot of profit so investing in audiobook app development is definitely a good idea.
Statistics say that audiobook industry reached revenue of $2 billion in 2016. In 2015 it was $1.77 bn. For the last 3 years there were about 100 000 of audiobooks released and about 5 million ones downloaded.
The very reason of such popularity is that Amazon has caught an eye on it and released its’ Audible. This offer has invigorated the whole industry because it made listening to audiobooks a lot more convenient than it was before. And now we see the increase of and interest to audiobooking business and therefore, boost of revenues.
You don’t no longer need to buy CDs or download any MP3s to listen to your favourite audiobook, Audible does all the boring activities in favour of you. Needless to say that such fast growing industry will attract a lot of developers, investors, freelance narrators and writers.
Speaking about audiobook collection supplying, Amazon has released a new marketplace for authors, narrators, publishers, and rights holders. So there won’t be lack of material to listen.
How to supply your app?
The most evident way is to record your own audiobooks and sell them via application created for your company. But this way has also the most evident drawback: it should take a lot of effort (and therefore, money and time) to create a good collection that could compete with market leaders.
We’ve already mentioned Amazon Audiobook Creation Exchange. It’s the most popular place where authors, narrators and copywriters sell their work or buy rights for a particular audiobook. There you can hire a freelance narrator that could record a particular book for your business or there you buy rights to record it on your own.You can also use API of other companies that provide it for retailers to access their titles and sell them on to consumers.
It’s also a great idea to provide users with related content. In addition to classic audiobooks you can offer news, articles devoted to the topic, recorded podcasts, lectures or debates.
The popularity of Audible has proved that subscription model that they use is the best of existent (but not ultimate). This platform asks users to pay $14,95 fee per month after the initial month ends. This membership works as a 1 free book per month and a discount of 30% for any additional content.
As we said, this business model is not ultimate. For example, Spotify uses the classic freemium model and gains revenue by displaying advertisements and offering an additional content for a monthly subscription.
Playster, another competitor of Audible, offers a premium subscription (along with the basic one) that gives an access to the whole catalog of audiobooks (about 60 000 titles).
Dealing with right holders
Audiobook Creation Exchange offers right holders 25% of revenue for every audiobook that is not exclusive for Audible, for exclusive ones they pay a 40% from every purchase.
Other platforms offer a constant 35% revenue for every audiobook.
There are also some requirements for audiobooks to be published on Audible.
To sum up, the industry of audiobook development is really hot now so investing in audiobook application is a really good putting up of money. So if you have some questions about how to build an audiobook app like Audible, feel free to contact us. We will dispel all your uncertainties.