Being a content creator is often perceived as a lucrative career option. If you’re a content creator in 2021, chances are you’ve also tried your hands at producing and monetizing videos.
Who wouldn’t want to earn money by shooting and uploading snappy videos on a topic they’re passionate about? But with more content creators jumping onto the video bandwagon, making your mark can be challenging.
Challenges of Being a Video Creator
Monetizing video content in today’s competitive online landscape is easier said than done. You must continuously produce engaging, high-quality videos to attract and retain your audience. Also, you need to utilize the right monetization techniques to generate revenue from your content.
When you think of video hosting and monetization platforms, the first name that comes to your mind is YouTube. The platform automatically places relevant ads in your videos and pays you a share of the advertising revenue. But in recent years, many content creators have been on the lookout for suitable YouTube alternatives.
Why You Need YouTube Alternatives
First things first, if you’re a new content creator who wants to make a mark on YouTube, you’ll face stiff competition. This is because there are more than 37 million YouTube channels out there. And this number is expected to rise even further.
Also, generating substantial revenue from your YouTube channel isn’t easy. Despite the glamorous lives of popular YouTubers, 96.5% of YouTube content creators earn between $0 and $12,000 in a year. Even the top 3% of YouTubers earn annual revenue of less than $17,000.
This is because the platform only gives you 55% of what advertisers pay for every ad that’s inserted into your content. Moreover, considering YouTube’s volatile policies for content creators, there’s always the risk of your videos being banned or demonetized in the future.
Best YouTube Alternatives
In this section, we’ll take a look at the top YouTube monetization alternatives for content creators:
1. Launch Your OTT Platform
Inserting promotional ads isn’t the only way of monetizing your videos. If you’ve got a repository of top-notch video content and an engaged audience, it’s a good idea to build and launch an OTT platform.
Apart from earning advertising revenue, you can charge a recurring subscription fee for allowing access to premium content. This is precisely the monetization strategy that leading OTT platforms, including Netflix, Hulu, Amazon Prime Video, etc. use.
The best part is that you don’t need trained developers or top-notch coding skills to build an OTT platform. Instead, you can use an OTT SaaS service, such as MAZ Systems, to create and launch your app. From creating your app and implementing different monetization techniques to reliable video hosting, MAZ offers turnkey solutions to build an OTT platform.
Image via MAZ Systems
2. IGTV
Launched in 2018, IGTV has become popular among video creators and influencers. Considering Instagram’s impressive engagement rates, it’s high time you explore IGTV as a possible YouTube alternative. When it comes to monetization, you can use brand sponsorships or affiliate marketing to earn revenue from your videos.
Image via Hancock Creative
3. Patreon
If you already have a substantially large audience that eagerly waits for your content, you should start leveraging Patreon. You can offer exclusive content to your audience in exchange for a monthly subscription fee. Additionally, you can host member-only live streams to connect with your subscribers and build a loyal fan community.
Image via Patreon
4. Twitch
Twitch is one of the most popular YouTube alternatives for gaming and live streaming. Under the Twitch partner program, selected creators get a share of advertising revenue. Also, you can use other monetization techniques, such as monthly subscriptions and donations to increase your revenue.
Image via Twitch
Final Thoughts
Whether you’re just getting started on YouTube or have been using the platform for many years, you should stay abreast of YouTube alternatives. Make sure you choose a platform that offers suitable monetization options for your audience. Alternatively, you could also consider launching your own OTT platform.
Can’t wait to kickstart your journey as an OTT publisher? Contact us today to get started.
