How to Make Money from Video: Unlocking the Revenue Potential of Your Video Assets
Video content can be one of the most powerful tools for brands and media companies. However, many organisations fail to fully capitalise on their existing video assets, leaving substantial revenue on the table.
Whether you have a rich library of video content or are actively producing new videos, there are numerous ways to monetise these assets by making them available online and through apps. In this article, we’ll explore the financial impact of underutilising video assets and how you can engage, monetise, and capitalise on your content to maximise revenue.
The Cost of Underutilised Video Assets
Failing to leverage your video content fully can lead to a significant lost revenue opportunity. According to recent studies, companies that do not optimise their video content for online distribution can miss out on up to 30% of potential additional earnings. This loss is even more pronounced for media companies with large video libraries, where the lack of an on-demand video platform, or poor user experience and accessibility, can mean missing out on millions of dollars annually.
By creating an on-demand video platform, you can unlock the value of your video library and generate ongoing revenue streams. Additionally, integrating live streaming capabilities allows you to engage audiences in real-time while monetising through ads, subscriptions, and other methods.
Engage, Monetise, and Capitalise: The Three Pillars of Video Revenue
To fully realise the potential of your video assets, it’s crucial to engage your audience, monetise your content effectively, and capitalise on every available revenue stream. Here’s how:
- Engage Your Audience
- User-Friendly Platforms: Make your video content accessible through intuitive, easy-to-navigate platforms. Whether through a website, mobile app, or smart TV app, providing a seamless user experience encourages viewers to consume more content.
- Content Personalisation: Use data analytics to understand viewer preferences and tailor content recommendations. Personalised experiences increase engagement and viewer retention, leading to higher revenue potential.
- Monetise Your Content
- SVOD (Subscription Video-on-Demand): This model generates revenue directly from viewers’ subscription fees. By offering unlimited access to your video library for a flat rate, you can create a steady stream of income. Subscription plans can be customised to suit your business needs, whether on a monthly, annual, or flexible basis.
- AVOD (Advertising Video-on-Demand): In this model, your content is free to consumers, but you generate revenue through ads placed before, during, or after the video. AVOD is particularly attractive due to its low barriers to entry for users, making it easier to attract a large audience.
- TVOD (Transactional Video-on-Demand): With TVOD, viewers pay for individual pieces of content, either through purchase or rental. This model is ideal for offering premium or new content alongside your SVOD or AVOD offerings, giving viewers more options and driving additional revenue.
- Capitalize on Revenue Streams
- Hybrid Models: Combine SVOD, AVOD, and TVOD to maximize revenue. For example, you could offer a freemium model where users can access ad-supported content for free or upgrade to a subscription to remove ads.
- In-App Purchases: Keep users engaged by allowing them to make purchases within your app. This could include content rentals, purchases, or pay-per-view live events, all integrated seamlessly with your existing billing systems.
- Advertising Strategies: Deploy targeted ads at the most effective points in your content to maximise revenue. Use pre-roll, mid-roll, and post-roll ads strategically, and consider server-side ad insertion for a more seamless viewing experience.
Insights and Analytics: The Key to Maximising OTT Performance
Understanding your audience’s behaviour is critical to optimising your monetisation strategy. By integrating insights and analytics, you can track which content is performing well, identify trends, and make informed decisions about your monetisation models. Knowing what resonates with your audience allows you to fine-tune your offerings, ensuring that your video platform continues to drive revenue.
Streamlining the User Experience: Pack Presentation and Pricing
Presenting subscription plans and pay-per-view options clearly and concisely is vital for converting viewers into paying customers. A well-designed UI can significantly enhance the user experience, making it easier for viewers to make purchasing decisions. Having a design-first approach ensures that your video platform is both aesthetically pleasing and highly functional.
Conclusion
In today’s competitive digital landscape, it’s not enough to simply produce high-quality video content—you need to actively monetise it to realise its full potential. By engaging your audience, exploring diverse monetisation models, and leveraging analytics to refine your strategy, you can unlock significant revenue from your existing video assets. Whether you opt for SVOD, AVOD, TVOD, or a hybrid approach, the key is to capitalize on every opportunity to turn your video content into a profitable venture.
For brands and media companies looking to make money from video, the time to act is now. With the right strategy and tools, your video content can become a powerful revenue driver, helping you achieve your business goals and stay ahead in the digital age.