How to Monetize Your Videos
Suppose you have plenty of videos on YouTube and an army of subscribers. You feel like you hit your ceiling there. There is no way for you to expand and grow. But we have an idea — you can create your own OTT platform. OTT platforms offer wide monetization opportunities. Let’s dive into the details of how you can monetize your videos via a video streaming service.
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What Are The Monetization Capabilities Of OTT Platforms?
OTT platform monetization is the primary purpose of many businesses. That’s why development companies work hard on implementing more and more features for achieving the monetization goal. There are the common models the OTT solutions can offer:
Subscription-Based Monetization Model
It is the most popular video content monetization model due to giant video services such as Netflix, Hulu, Disney+, HBO Max and local services such as TVALB, Fibranet, SAT TV and USNILE. They offer viewers monthly and yearly subscriptions. After purchasing it, people obtain unlimited access to exclusive content.
The monetization platforms generating revenue by subscriptions were popular for a while. However, many recently have observed subscription fatigue among viewers. People are less inclined to subscribe to a service. Instead, they look for advertisement-based services that don’t charge a fee.
Still, subscriptions are a proven method of monetizing videos. Viewers appreciate the opportunities to watch any amount of videos in a row and cancel the subscription anytime.
Advertisement-Based Monetization Model
As we already mentioned, advertising-based monetization models are gaining popularity because people are tired of subscriptions. They cancel all of them and turn to advertising-based video streaming platforms.
Advertisement-based platforms generally offer free content. So, viewers pay nothing for watching videos. Instead, the platform shows them ads at any point in a video. These ads belong to third-party companies. They pay a video streaming service provider for running them on their platform.
But some services offer several plans. One package is at a lower price but with ads, and one is at a higher price and without ads.
Transactional-Based Monetization Model
A transactional-based revenue-generating model is gaining popularity. More and more businesses are finding it convenient to charge only the piece of content viewers want to watch now or a bit later.
Platforms using a pay-per-view model sometimes allow viewers to download a video on their devices. Also, some platforms let users only rent a video for a while.
But it can be that a video stays in the user’s profile. It expires only if a person violates the service’s terms and conditions.
What’s The Tip?
Okay, we have covered common monetization models. And we promised a small tip. What is that tip about? It is also about monetization.
Your revenue can also be limited by the devices the platform is available on. So, to cover as many devices as possible, OTT platform developers can offer OTT apps. With the help of them, your viewers will be able to access content from any device: smartphones, tablets, Smart TVs, and laptops.
Moreover, to generate more revenue, you can cover more locations with a content delivery network (CDN). Don’t forget to add subtitles or vocal tracks in other languages to the videos.
OTT platforms provide businesses with many opportunities to manage the video monetization process — from common monetization models to the opportunity to expand the business over new locations. It is the reason businesses launch their platforms today.
Viewers also appreciate the OTT services for their flexibility and convenience. Their price is usually lower than satellite or cable television.