Video entertainment is not what it was 5, 10 or 15 years ago. That said, today’s video business landscape offers tremendous growth opportunities. Streaming services recently surpassed cable distribution and paid TV just had its worst quarter on record for subscription losses. OTT video platforms, like Zype, allow premium video content owners to capitalize on cord-cutting trends and have total ownership over their revenue.
When it comes to making money, every video business is unique and a one-size-fits-all revenue model doesn’t exist. The most successful OTT video businesses choose a monetization model based on their unique content, audience, and goals. While there’s not one right way to monetize your content , here are some proven tactics and approaches content owners can use to ensure they’re maximizing their revenue.
OTT has given content owners more control than ever before. You created the content and you built your audience—you own every part of your video business, from your fan relationships to your revenue.
Take advantage of having a direct relationship with your fans by keeping the lines of communication open. Engage with your current and potential audience on a consistent basis across multiple platforms, including email, social media and your website.
Distributing content to endpoints that you own-and-operate is key to maximizing revenue for your video businesses. You own the IP on your website and OTT apps, this allows you to eliminate any middlemen and keep the majority, if not all of the revenue from your content.
Your video business exists because of your fans, so let your audience (and viewer data) determine where you are publishing your video. You want to be everywhere your fans are and you don't want to rely on a single distribution platform. It’s important to eliminate risk and expand your reach by distributing your content on multiple channels including your website, Roku, Apple TV, Amazon Fire TV and smart TVs.
Finding the right revenue mix to make the most out of your content requires some trial and error. Multiple factors such as exclusivity, timeliness, production value, audience size, and pricing can impact whether particular content types and revenue models match. Don’t be afraid to experiment with different monetization methods and remember there is no one “right” revenue model. Keep trying new things until you find what works best for your video business.
Learn more tactics that successful video businesses use to maximize their revenue, check out the Make Money course on Zype U.