Wondering how you can start monetising your online video content? Margaret Davies, Global Vice President of Global Media Account Management at Brightcove discusses what you’ve always wanted to know but have been too shy to ask…
With the combination of great content, the right platform and an interested and engaged audience, it’s more than possible to start making more bang for your buck when it comes to your online videos
Increasingly, businesses, marketing and traditional media professionals in the Middle East are looking at how video can help connect them with their target audience more effectively, and there are several factors that are coming together to influence this change. According to a survey by Mohammed Bin Rashid School of Government (MBRSG), more than 135 million individuals are using the Internet in 22 Arab countries. Most interestingly, 49% of MBRSG respondents watch video clips at least once a day
In other studies, over 60 million young people (15-24 yrs) are going to transition to adulthood in the MENA, according to AMO, and 70% of these entrants are skipping the print versions of media and becoming digital-only consumers, says Strategy&.
In such a rapidly changing reality, traditional communication has to evolve through investing and building strong cross-platform assets – video being the obvious choice due to its impact as well as ability to adapt to traditional and online platforms. But, as this trend continues to grow, it’s important to understand that video not only increases engagement, but supports profitability.
We understand that the idea of monetising content sounds daunting; it’s like the awkward question when you’re out for dinner – who picks up the tab – but rest assured that it’s more straightforward than you would think. Here we’ll discuss three business models where each one works in a different, yet effective way.
Firstly, ad funded video uses payment from advertisers as revenue and often requires no payment from viewers. One of the easier monetisation models to set up; the hard work is attracting advertisers to your content. What’s the best approach? Advertisers want to find videos that complement the brands that they represent and are more attracted to high quality, professional videos.
Another way to make money from online video is to simply charge people for it, better known as video on demand (VOD). There are two main forms of paid online video – SVOD (Subscription Video on Demand) and TVOD (Transactional Video on Demand). While VOD is most often associated with entertainment, with high production values such as movies and TV shows, it’s possible to generate revenue by charging people for very specific niche content – for example, you can charge for instructional videos, highly localized news content or business analysis by an expert in the field. How do you get the most out of VOD? Make sure you have content that keeps customers coming back for more, either in the form of a video library or recommendations based on previously viewed content.
Finally, there is authenticated viewing. This is the ability to view content on your TV, tablet and smartphones, with all the devices accessing the same content as and when required. Although it doesn’t always generate a direct stream of revenue, authenticated viewing can be a great value-add for your existing customers to enhance viewing experience. If done well with the right player experience across each device and user friendly log in procedures, authenticated viewing can increase loyalty from your existing customer base and entice new customers.
The growing presence of online video highlights how important this medium is to consumers and customers. With the combination of great content, the right platform and an interested and engaged audience, it’s more than possible to start making more bang for your buck when it comes to your online videos.