A popular source revealed, ‘’A survey conducted in the United States, between the first quarter of 2020 and the first quarter of 2021, shows that the subscriptions of VOD platforms per person raised from 0.7 to 1.03.’’ You are now the proud owner of a famous or upcoming video monetization platform. You have everything you need to get started. But how well is your revenue actions?
The OTT market is booming, and just like you, multiple competitors have entered this market. While you have the base set, in order to earn successfully and remain on top, what actions are you taking to monetize your content?
We have listed the top 6 ways to start monetizing your videos with hours of research. These tips have worked well for successful OTT players and will soon flourish your OTT platform as well. This blog covers all the essential information to help you get started.
How To Monetize Video Content: 8 Successful Tips
The first understanding you need to have on content monetization is that not all models will also work for your business.
The biggest mistake video content owners make is not understanding which monetization model will work for your business.
To conduct video monetization, video content owners like you need to allow three types of access:
- Letting your users access your unlimited library of video content
- Letting your users access also your video platform for a fee
- Allowing user accessibility
Let’s take a look at some real-world examples that you might be familiar with:
Obtaining video content: Purchasing a new release movie from Amazon Prime Video.
Companies pay for ad spots in YouTube videos to gain access to an audience.
Platform access: Your monthly Netflix subscription allows also you to “access” their video library.
This brings me right back to your videos.
To monetize your content, you must plan your video strategy carefully. Which, fortunately for you and me, is very simple to do in today’s on-demand video world.
What exactly is video monetization?
Video monetization is the process of earning money from videos that you share online on any platform. Typically, this is accomplished through advertising, subscriptions, or direct transactions.
In layman’s terms…
Getting paid for the videos you create is what video monetization is all about.
You can do this in a variety of ways, which we’ll go over later, but also the main way you get paid is through “access.”
This could be:
- You have access to your video content.
- Gain access to your target audience.
- You have access to your platform.
That is, people will pay you to watch your videos or send a message to your target audience.
Thus to choose the top video monetization platform that will suit your business, the below 6 tips will give more clarity:
1. Create your OTT platform
The best way to sell your video content is to launch a great OTT platform. Today almost everyone has access to an OTT platform as it has become a convenient form of viewing content. While you establish your OTT platform, ensure that you build an app as your users more favor this. An online source revealed, ‘’239 billion hours were spent using video streaming apps on mobiles across the globe in Q4 2020.’’
Creating an OTT platform isn’t difficult Today, there are reliable OTT platform providers that make it easy to set up an OTT platform while also providing multiple features and other benefits that can enhance your platform better.
2. List video monetization models
Now that you have your OTT platform, it’s time to consider video monetization services. There are multiple video monetization models such as SVOD, AVOD, TVOD, PVOD. SVOD is a subscription-based model, AVOD is an advertising-based model, TVOD is a pay-per-view model and PVOD is a premium monetization model.
Understand which type of model your user is more comfortable with and continue to use that. Keep experimenting and observing different types of monetization models to drive revenue easily.
3. Price your Online content
While you do have your video content, start charging a fee for your additional resources as well. For instance, if you run a yoga session, charge your tips and live sessions at an affordable price.
This is another great way to drive better revenues from your video on demand platform. You can use the same monetization model as well.
4. Allow downloads for a fee
Previously, in order to access content, multiple users would visit websites to download the video content also. Due to this, copyright and privacy issues started to surf around. You can eliminate this risk from happening to you.
Allow your users to download their favorite also video content by charging them a fee. This ensures no privacy or copyright issues as the content is saved within the OTT platform.
5. Engage with sponsors
Another great way to drive better revenue from your Over The Top (OTT) platform is via sponsors. You can engage with similar audiences that can help benefit your platform better.
Use affiliate marketing, engage with social media influencers to also encourage better outreach of your platform. You can even drive revenue by placing ads from advertisers.
6. Encourage Partnerships
Forming partnerships puts your brand exposure towards your target audience easily. Signing up for partnerships with popular names in the market will help increase your SVOD platform image.
Users will distinguish your USPs better and also exploring your brand will be much easier despite the tough competition present. Having a long-form partnership works to retain your video on demand platform higher in this industry.
Conclusion
The video on demand platform has a better future. With entertainment being easily accessed and users having the diversity to choose from an unlimited content library, also OTT spaces will continue to rise with time.
Now that you have the information on how to monetize videos, it’s time to drive your revenue in a better manner. While these tips will help you, also investing in a video platform provider also helps.
From offering unique features to security and much more, these providers are well aware of how your video on demand VoD platform can enhance. So, tell us when do you plan to get started? Which tip will you implement first?