We’re committed to making Audible and ACX the best experience it can be for our creative community, and we’ve heard your feedback. We have been hard at work building a new reporting system to reflect details on returns, including returned units by title. Starting March 2021, you’ll be able to see this data on your ACX Sales Dashboard. This data will also be included in your monthly financial statements for March 2021 and the following months. We appreciate your patience as we invest the time and resources to make these updates to the dashboard and our backend systems, so that we can expand reporting details for our thousands of creators. As of January 1, 2021, we are paying royalties on any return made more than 7 days after purchase.
We are also making other changes to our ACX policies to provide more flexibility, which we know is important to you. Effective February 1, ACX Rights Holders of DIY or Pay-for-Production titles that have been on sale for 90 or more days can convert their distribution type from exclusive to non-exclusive. In addition, all ACX Rights Holders will have the option to terminate after 90 days of distribution, but Rights Holders with Royalty Share or Royalty Share Plus deals must provide Producer consent when making their request. More details about this update will come in the payments letter that will be sent next week.
We wish you all the best in 2021.
Launched in 2011, the Audiobook Creation Exchange has paved the way for exponential growth in audiobook production and consumption, today supplying over 200 audiobooks in store per day to Audible, Amazon, and iTunes. The ACX online rights marketplace and production engine is available to all authors, publishers, literary agents, narrators and studio pros in the US, UK, Canada, and Ireland. ACX.com connects and educates independent authors and rising actors—many of whom are among 20,000 professional actors who have worked with Audible in the past 5 years—in the art of audiobook performance and creation, and provides title-promotion tools and methods to drive sales and audiobook awareness, allowing our creative stakeholders to reach new audiences on Audible and beyond. Free programs, including ACX University and the Promo Code tool, seek to level the playing field and further expand opportunity for authors, narrators, rights holders and producers alike.
As you know, we’ve been working to address some ACX authors’ concerns about Audible’s overall exchange policy, and we appreciate your feedback. The intent of this program is to allow listeners to discover their favorite voice, author, or story in audio. In instances where we determine the benefit is being overused, Audible can and does limit the number of exchanges and refunds allowed by a member. But as designed, this customer benefit allows active Audible members in good standing to take a chance on new content, and suspicious activity is extremely rare.
We hope this helps convey perspective to our valued writers and ACX partners as to the impact of our current returns policies. However, in recognition of these concerns, moving forward and effective as of January 1, 2021, Audible will pay royalties for any title returned more than 7 days following purchase. This adjustment does not impact our customers’ current benefits of membership, and we look forward to continuing to welcome millions of first-time listeners, enabling our members to discover new content they enjoy and growing the audience for our valued creative partners.