Online video is a great industry to be in due to the ocean of opportunities and growth patterns. It’s exciting, rapidly expanding, and valuable to a huge number of online users. More and more publishers are building video content nowadays. The user has already shifted from reading to viewing. The preferred sensory choice is audio-visual now which will in future add more dimensions to itself. Publishers need to get ready to serve the best, crisp and attractive video content to engage maximum eyeballs.
In this article, we are going to discuss the three steps in devising your video content strategy; answering the vital questions about how to create, curate and monetize your video content.
This is the first step in the process. There are many ways to create videos depending on the time and resources allocated to create each video. News publishers tend to create a lot of video content while recording interviews or capturing accidents. This becomes a rich source of video for their monetization platform. A lot of modern publishers also dwell into deep research and documentary making creating very engaging videos.
In this stage, one needs to decide on the platform which is used to host and present the videos to the online audience. To present static content like web series or historical footages, youtube serves as a good monetization platform. To host rich, high definition quality video especially on pay per view model, Vimeo can be used. Videos can also be hosted natively, but constraints come in place due to database requirements. Some publishers put excerpts of their videos on the publishing platforms and redirect serious users on their websites for full watching. For live webcasting, one can also use the options like Ustream, Livestream, Wistia and JW player etc.
There are many different ways to monetize your videos. These include pay-per-view (or PPV), advertising, and subscriptions. PPV has some great advantages. It can generate large amounts of revenue if you’re able to attract a decent audience size, but viewers using PPV do not usually make a long-term commitment to your brand. They may simply watch once and then leave. Additionally, PPV generally requires an investment in marketing. Another monetization model for video is subscriptions. Instead of having to purchase individual access to programs, they allow fans to gain access to all content with a single purchase. Although it is convenient for customers, it requires your content to be really interesting for the users. The advertising is the simplest model of monetization. While the user gets the content for free, his view is obscured partially due to instream, pre-roll and overlying ads.
With quality content and a smart approach, online video can be a significant income source. A well-thought mix of the two can result in profitable revenue from your video business