In 2024, more and more companies and content creators are using speech generation and text-to-speech technologies based on AI and ML algorithms. The ElevenLabs.io platform, which we will discuss in this article, plays a significant role in this trend.
Overview of ElevenLabs
ElevenLabs is an American company known for its developments in the field of speech generation using AI: text-to-speech (TTS), speech-to-speech (STS), and voice cloning. It was founded in 2022 by two AI and ML engineers – Piotr Dąbkowski and Mateusz Staniszewski. The former took the position of CTO, and the latter became CEO. As of 2024, it employs over 50 people. They are engaged in creating deep learning models for generating natural voice and sound effects in more than 30 languages.
The developers presented the beta version of their platform in January 2023. After that, they managed to raise $2 million in investments during the pre-seed round. In June 2023, the startup successfully completed the Series A round and received $19 million. As a result, its capitalization increased to $100 million. In January 2024, ElevenLabs continued the fundraising campaign and received $80 million as a result of Series B. This round increased its valuation to $1.1 billion.
The company has a large product line for content creators, small businesses, and large companies. ElevenLabs pricing includes the following tariff plans:
- Free. The free plan is for individual users. They are given 10,000 credits per month, which is enough to create 10 minutes of AI audio. This plan gives access to a library of thousands of unique voices and allows you to create up to 3 custom voices. In addition, it supports translation with automatic dubbing, sound effects generation, and API.
- Starter. Cost: $5 per month. The Starter plan gives you 30,000 credits per month. They can be used to generate 30 minutes of AI audio, as well as clone a voice from any audio recording up to 1 minute long. Moreover, the plan provides a professional dubbing tool, Dubbing Studio, and a license to use the service for commercial purposes.
- Creator. Cost: $22 per month. Users who choose this plan get 100,000 credits to generate 100 minutes of AI audio of improved quality (192 kbps). They have access to professional AI voice cloning and the creation of audio recordings with extended timing and multiple speakers. The set of tools in this package includes Audio Native. It can be useful for adding a narrative to a website or blog.
- Pro. Cost: $99 per month. This plan gives creators 500,000 credits to create 500 minutes of AI audio with increased bitrates, built-in analytics, and more.
- Scale. Cost: $330 per month. This package is designed for startups and publishers. By subscribing to it, they receive up to 2 million credits per month, which allows them to generate 2,000 minutes of AI-generated speech recording. Furthermore, they are given access to priority support.
- Business. Cost: $1,320 per month. This serious package is intended for large or actively developing businesses. Users who choose it are provided with 11 million credits per month. This volume is enough to create 11,000 minutes of high-quality AI audio or 22,000 minutes of turbo AI audio. Additionally, they get access to the turbo model ($50 per million characters), as well as priority support and professional cloning of 3 voices.
- Enterprise. The terms of this tariff plan are discussed only on an individual basis. The cost is calculated individually and is provided upon request.
The prices indicated are valid on the condition of payment in monthly mode. If you pay for the whole year at once, you can save the cost of 2 months.
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How Does the Text-to-Speech Platform Work?
ElevenLabs' main product is a text-to-speech platform developed on the basis of AI and deep learning technologies for recognizing text and converting it into natural-sounding speech. It is enough to enter or upload text into the web interface, select the necessary language and voice template – and the user instantly receives high-quality voice-over.
The platform contains a number of tools and functions:
- The AI voice generator creates high-quality human speech in 32 languages with over 50 accents. Users can choose from a variety of ready-made options in the library or create a custom option from scratch.
- A variety of voice customization tools allow you to change pitch, timbre, tone, intonation, clarity, pronunciation, speech delivery style, emotion, and more.
- Voice Library provides a large database of voice profiles developed by community members. Currently, the library contains over 1,000 unique voices. Any of them can be freely used in voiceovers.
- Voice cloning technology instantly analyzes and clones previously recorded voices. It only needs a few minutes of audio as a source. It enables professional clone creation in the process of individual training of the AI model on user audio recordings.
- The AI Speech Classifier function automatically identifies voices created by artificial intelligence, including on external resources via API integration.
- Speech-to-speech tools are capable of completely changing the original voice or editing it properly through AI Voice Changer.
- With Dubbing Studio, authors, studios, and publishers localize content into 29 languages. Using AI dubbing technologies, they easily and quickly translate audio and video voiceovers into different languages while preserving timing, emotion, tone, and other speech characteristics.
- ElevenLabs sound effects allow you to quickly create various sound effects and entire instrumental tracks without equipment or relevant skills. The platform allows you to customize them based on text prompts and download them for free in high quality.
Practical Applications
ElevenLabs AI voice platform has a wide range of applications. It is used by content authors, bloggers, publishers, computer game and chatbot developers, as well as representatives of other fields of activity.
The platform is most in demand for solving the following tasks:
- Content creation. The platform simplifies and speeds up the process of creating various audio and video content. With its help, you can easily turn publications into professional audiobooks and text scripts into high-quality podcasts. The voice cloning function allows authors not to waste time recording voiceovers, entrusting this task to artificial intelligence and deep learning algorithms.
- Dubbing. Built-in multilingual text-to-speech (TTS) and AI dubbing technologies support dozens of popular languages and accents. They facilitate full automation of content dubbing work. No less important is that these algorithms preserve the speaker's voice, delivery, and other speech parameters during translation. The platform's voice AI technology helps create professional dubbing in films, TV series, cartoons, and other types of media content without the participation of actors.
- Script development. ElevenLabs tools are often used to optimize the work of scriptwriters. They effectively automate the process of designing realistic dialogues for content of any format and subject.
- GameDev. Game developers actively use the platform's capabilities to create narratives, dialogues, and voice acting for characters. They also use it to localize their content in multiple languages.
- Blogging. ElevenLabs is in high demand among bloggers and influencers on popular social networks (YouTube, TikTok, Instagram, etc.). Its AI algorithms are highly skilled at creating and translating a variety of content between dozens of languages.
- Development of chatbots, AI agents, and AI assistants. The company's conversational AI technologies bring tangible benefits to businesses of various industries and sizes. They help to develop multifunctional AI chatbots and virtual assistants for customer service and support easier and faster. ElevenLabs provides enterprises with a number of benefits: enterprise-level SLA, priority support, unlimited users, API access, discounts for large volumes of data, and more.
Future Directions
The ElevenLabs' voice generation technologies have serious prospects for further development and distribution. Experts predict the imminent emergence of new tools and trends. The most interesting among them are:
- Voice quality improvement. The deep learning algorithms used by the platform are constantly improving their capabilities by processing and analyzing large amounts of data. This helps them imitate human speech even better, creating a 100% natural voice.
- Improved cloning. The development of AI algorithms will allow for much faster and more accurate cloning of a recorded voice, including one speaking with an accent or other individual characteristics.
- Adding emotions. Until recently, the monotony of speech was one of the main drawbacks of AI generation technologies. In the near future, it may lose its relevance, as modern neural networks are actively mastering the recognition and transmission of emotions. This makes the content they generate much brighter, more expressive, and more humane.
- TTS for singing. The emergence of specialized AI algorithms with the ability to sing is a promising trend in the development of technology. With their help, users will be able not only to create bright and lively voiceovers but also to record musical compositions with lively and realistic voices.
Conclusion
Launched in 2022, the ElevenLabs AI platform has made a significant contribution to the development of voice generation and text-to-speech technologies using artificial intelligence and machine learning algorithms. The tools it has created are in high demand among corporations and professionals from various industries, from video game development to customer service. The company is constantly updating and expanding the set of solutions it offers. As of 2024, it includes tools for AI voice generation (text-to-speech), voice customization and cloning, and speech-to-speech conversion. In addition, ElevenLabs provides advanced functionality for dubbing and sound effects, as well as recognition of synthesized speech.
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