How to Monetize Streaming Video and Digital Media Content
Start Making Your Digital Content Work For You
As a content publisher, your media channel will not survive unless you implement a monetization model that’s best suited to match your audience’s needs. Here at Campfyre, we’ve put together a crash course in content monetization to help you get started in picking, planning and implementing the monetization model that best fits your market.
You’ve got a load of content you’re ready to start putting to work for you to bring in revenue. You’re privy to the OTT revolution taking place in streaming media, and you’re ready to join the movement. And you know that the OTT sphere can be a jungle of a market and new channels can sink or swim. By considering the various monetization models and gaining a thorough understanding of your market, you’ll be able to put the right model in place and begin successfully generating revenue from your killer content.
The 3 Monetization Models
In what ways does your content make you money?
There are three models to answer that question:
- Free content is either served with ads/sponsorships or used as a means to redirect.
- Pay-Per-View or pay-as-you-go content has a predetermined value and costs per view.
- Subscription-based content requires a monthly or yearly fee to gain access to content.
Before you pick one of these models, it’s important you understand your content’s value and your market’s participation.
Understanding Your Content Market
You’ll need to determine a few things about your content and your market before you can successfully pick and implement the right monetization model. Below we’ve used ESPN and USSSA as an example, the former being a national content distributor and the latter a niche content distributor.
Questions to ask yourself before choosing a monetization model:
- Determine whether your content appeals to a broad audience and can tap into a larger following or if it’s intended to reach a smaller, niche market.
- What is the value of your content?
- Why are you successful in your market?
- What about your content stimulates a reaction from your audience?
- How does your branding and company image further that reaction?
National Market Model vs. Niche Market Model
ESPN is the first on the scene when it comes to sports and the go-to for most sports fanatics. As well-known as they are and as widely distributed as their content is, ESPN has no problem at all implementing a monetization model that is subscription-based. They have a tremendous audience and a loyal following willing to pay premium to access all of the content their network has to offer.
USSSA serves a smaller, niche demographic of viewers as a non-profit, specialty sports organization. Because the market USSSA operates in is much more specific and their following is smaller than that of ESPN, a free model with ad injection would be the best option for them as they continue to build their audience and network following. In fact, in this case it may be wise to implement a dual strategy: a pay-as-you-go model and an alternative subscription-based model.
Now that you’re prepared with the knowledge to create incredibly successful OTT channels, I’m sure you’re asking, “What’s the next step?” We are. Campfyre.tv provides a free user interface allowing you to create Apple TV, Amazon Fire TV and Roku channels.
Start your free trial at campfyre.tv and join the OTT revolution!