Advertising revenue is a major source of income for many content creators across the globe. If you can bring in enough traffic to your online content, you can rest assured that advertisers will bid for your ad inventory. Becoming a content creator is extremely easy today. With online hosting platforms, barriers to entry are low, and the promise of good returns is high. But did you know that around 97.5% of content creators fail to make enough via ad-sponsored content to even reach the poverty line?
Does this mean that you have to give up your dream of being a content creator and opt for the dreaded 9 to 5 instead? No, you don't have to do that. There's an effective way in which you can make a good buck for your valuable content. And the answer is by putting your video behind a paywall.
What is a Paywall?
Think of a paywall as a barricade between your users and content that won't come down until the user makes a one-time payment or pays a subscription fee to access your content. Amazon Prime is a great example of a video paywall where you can't access Prime videos unless you buy the subscription first. You can also think of Google Play as an example where you must pay a one-time fee for unlocking a particular video.
Why Should You Set Up a Paywall?
There are various reasons why you should set up a paywall.
- Restricting access to your content via a paywall eliminates your dependency on advertising revenue and allows you to monetize your content more efficiently.
- It protects your content from spammy advertisers and malware.
- It helps you connect with your viewers and build a substantial user network.
How to Set Up Videos Behind Paywalls
If you're only relying on YouTube and other platforms for ad revenue for your video content, you're leaving money on the table. At the same time, you're relying on a platform that you have no control over. If you set up your own website to host and monetize your video content, you can experiment and optimize in whatever way you want. Once you host your videos on your own website, the next step is to monetize by setting up a paywall.
Setting up a paywall is fairly easy by following these steps:
- Host your website on your preferred platform, e.g., WordPress, Wix, etc.
- Choose an online platform provider, such as Zype, that allows you to host as well as monetize your videos with minimum effort.
- Import your videos into the solution's platform and enable the appropriate paywall option (subscription, one-time fee, etc.)
- Set up your preferred modes of payment
- Embed the new paywall enabled codes for the videos on your website
Monetization types with Paywalls
There are two main ways in which you can monetize content with paywalls.
TVOD (Transactional Video on Demand)
TVOD is a monetization model where users pay-per-view. They can either pay to have permanent access to your content or rent it at a lower cost for a limited duration. This model works well for viewers who watch limited content and don't want to pay a higher fee for content they would never consume.
SVOD(Subscription Video on Demand)
SVOD entails that the viewers buy a subscription package, which gives them unlimited access to all your content. This model is economical for viewers who watch a lot of videos and where pay-per-view would turn out to be very expensive. In a subscription model, you can provide an option to pay monthly, quarterly, or yearly, with the flexibility to opt-out anytime.
Best Paywall Solutions
The best paywall solution depends is one that meets and exceeds all of your needs. Zype provides a one-stop solution with the following capabilities:
- Video hosting
- Choosing between SVOD and TVOD
- Setting up a payment gateway with payment methods of your choice
- Enabling user registration before giving access to your videos which helps acquire leads
- Supporting livestreams behind paywalls
Book a demo today and start monetizing your content.