Audible sets up $20M audiobook self-publishing fund
updated 03:55 pm EDT, Mon April 16, 2012
Extra cash aimed at drawing in self-publishers
Audiobook retail giant Audible recently announced a major initiative aimed at getting authors to self-publish through Audible. The move will make available $20 million for direct payment to authors using Audible's services.
Under the new program, any author with an audiobook for sale on Audible can sign up, after which they will receive tools to aid in promotion of their books through social media and other avenues. Following enrollment in the program, authors will receive a $1 honorarium for each audiobook sold, in addition to the royalties the author already receives from any prior contracts or agreements.
Audible is a subsidiary of Amazon, itself one of the largest physical and digital book retailers in the world. The new initiative represents a further step in a larger, sometimes difficult push by Amazon to become the main portal for authors looking to self-publish.
