Audible slashes audiobook subscription price to lure new customers
Cynthia Chu, global chief financial and growth officer at Audible, spoke to Mumbrella about the company's new pricing model
Audible is rolling out a new lower-priced standard membership tier across key global markets, including Australia. The Amazon-owned audiobook streamer has been testing the new plan in some markets.
For $8.99 a month, Standard subscribers can select one title each month from the entire Audible collection. The catch: the book is only yours as long as you’re a member.
Before this lower cost standard plan, the cheapest Audible membership cost $16.45 a month.
Speaking exclusively to Mumbrella about the change in pricing strategy, Cynthia Chu, global chief financial and growth officer at Audible, said the offering was aimed at those “just starting out in their exploration of audio storytelling content or are looking for the latest bestseller”.
She said these customers “may find themselves drawn further into audio storytelling and look to upgrade their membership for more access.”
The move comes as Audible faces increased competition in the audiobook space from Spotify. The platform now offers a range of over 400,000 audiobooks as part of its $15.99 premium plan.
Both Audible and Spotify both offer free trial periods, but Spotify is pushing hard with a current three-month free trial that offers 15 hours of audiobook listening a month.
Australian testing from Audible indicated how price-sensitive potential subscribers can be. When first introduced, the new standard tier drove a double‑digit uplift in new sign‑ups.
Mel Robbins is one of the most-downloaded authors on the Audible platform
Although not addressing the impact of competition, Chu acknowledged growth of the sector, saying it “open[s] the door to the fastest-growing format in publishing, while also supporting creators and publishers by bringing new audiences into the category.
“Consumers are looking for optionality and flexibility of offerings. The launch of this plan reflects our ongoing commitment to serve the diverse preferences and habits of our customers, providing more entry points to audiobooks.”
Although Amazon doesn’t release subscriber numbers for either its Audible or Prime Video subscription services, Chu explained Australia is an important market for them.
“Audible has operated a dedicated service for Australia for over 10 years,” she said.
“As a primary hub for original content production, Australia continues to stand out as a rapidly growing and influential marketplace for audio storytelling.
“Our ongoing investment in local storytelling reflects both the strength of Australian listening habits and our commitment to amplifying Australian voices to audiences worldwide.”
Data shared by Audible at the London Book Fair last year revealed its top three genres worldwide in terms of listening time are sci-fi and fantasy, mystery and thriller, and fiction.
Sci-fi represented a big increase in listening time, up over 20% over the previous 18 months, while children’s content saw a 22% increase.
Audible also indicated its member base grew globally by nearly 800% over the last 10 years.
The Audible best-sellers chart doesn’t seem to differ too much from the printed bookshop lists. The Australian Top 10 features five Harry Potter titles — including pre-orders for the Harry Potter full cast editions being released next week. Motivation guru Mel Robbins is a fixture too, having released multiple titles exclusive to Audible.
People wanting to research the current media bombshell, could make use of the platform to hear Jackie O reading from her 2024 memoir The Whole Truth. An updated edition with all the recent drama included might just make that bestseller list…
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