Streaming video and OTT continues to grow at a rapid pace and it’s redefining how we make, consume, distribute, and monetize video content. There is more opportunity than ever before for content owners (big and small) to distribute and sell video content directly to their audiences. OTT video platforms, like Zype, enable premium video content owners to capitalize on cord-cutting trends and have total ownership of their revenue.
Yet when it comes to deciding the best way to monetize your premium content, whether it’s ad-supported, subscription-based or transactional, there isn’t any clear-cut answer. The truth is, it’s difficult for any content owner to maximize their revenue potential by relying on any single monetization model.
Taking a hybrid approach to monetization is arguably the most effective way for direct-to-consumer video businesses to make money. To ensure that you are maximizing revenue for your business, here’ are a few proven hybrid approaches that leverage multiple monetization models, across strategic channels.
Build Your Audience and Generate Ad Revenue on Other Platforms
Have a sizeable audience on your YouTube channel and social media channels? Use these free platforms as a tool to drive viewers to your better-monetized content on your website and OTT apps. Keep your YouTube channel updated with fresh content and continue to collect revenue from advertising and brand sponsorships.
Create a Tiered Offering, from “Freemium” to Premium
However you choose to monetize your content, never limit your viewers to a single offering. Provide a range of monetized options and price-points that can include:
- Free ad and brand sponsorship supported content on your website and social channels.
- A Competitively priced monthly subscription for access to premium and exclusive content.
- A VIP tier that includes special perks such as free merchandise, early access to new content, behind-the-scenes content, etc.
- The option to rent or purchase a limited selection of legacy content.
- The option for viewers to donate to support your content.
- Live stream a pay-per-view event. Works especially well for sports-related content!
Host a Real World Event and Stream it Live
Have a large or hyper-local audience? Consider hosting an in-person event that you live stream. Events aren’t only a great way to engage with your audience, they’re also an easy way to generate additional revenue. Sell tickets and merchandise at the event, in addition to turning your live stream into a pay-per-view event or incorporating a strategic brand sponsorship.
Get Started with a Hybrid Approach Today
At the end of the day, finding the best way to maximize revenue from your content requires some trial and error. Multiple factors such as exclusivity, timeliness, production value, audience size, and pricing can impact the effectiveness of your monetization strategy. Remember it takes time to experiment and try new approaches until you find what works best for your video business.
Now is the perfect time to plan how you’ll scale your video business in 2018. Get started with Zype University’s exclusive guide to hybrid monetization. Receive case studies from video businesses like Rooster Teeth and Startalk that shows how their unique hybrid approach has been instrumental in their success. Plus, you’ll learn how the economics of a hybrid business model works and why it’s such an effective approach. What are you waiting for, start maximizing your video revenue today!
Get Your Free Guide to Maximizing Revenue for Your Video Business!