You invest a lot of time and effort in content creation and surely want to profit from that. In this case, companies usually launch their own OTT platforms. These platforms are video monetization platforms designed especially for you to generate revenue.
OTT platforms usually offer an OTT app for any device, including a Smart TV, a smartphone, and a tablet. Applications allow you to reach more people and increase user retention on the platform.
All components of an OTT solution aim to help you make revenue. And there are certain features within the platform so that you can monetize your videos. Let’s look closer at them.
Four Ideas for Content Monetization with OTT Platform
OTT companies embed monetization models into their solutions. You can encounter three common revenue-generating approaches when looking for a professional OTT solution for video streaming.
Subscriptions are the most popular monetization model thanks to huge video streaming services. Subscription-based platforms offer viewers to subscribe for a period of time – a year or a month. They need to pay for access to videos. At the end of a purchase period, viewers can cancel or renew the subscription.
Subscriptions are convenient for viewers because consumers get unlimited access to content. They can watch videos at any time they want and often on any device. Consequently, viewers can watch videos whenever and wherever they want. They need an internet connection, a compatible device, and a purchased subscription to a video streaming service.
There are many subscription-based platforms in the market. And people got a lot of subscriptions. But recently, they have started canceling them and turning to ad-based services. We are talking further about them.
Advertising is gaining popularity as a profitable OTT monetization model. In this case, people don’t have to purchase access to content. They watch advertisements during the playback instead.
Lately, viewers have been turning to ad-based services because they are tired of multiple subscriptions to video streaming services they have. The video streaming market is adapting to these changes. For example, huge corporations like Netflix are introducing a multi-tier model.
They combine subscriptions and advertising to create a new monetization approach. Netflix’s version includes two purchase options: the first is a subscription without ads at a higher price, and the second is a subscription with ads at a lower price.
Surprisingly, advertisements became a better alternative for budget-conscious viewers. Ads always frustrated people during the program view, but now, consumers don’t mind watching them.
A pay-per-view model is also known as a transaction-based monetization approach. In this case, people purchase access to a single video or several of them. The rest of the content is inaccessible and requires additional payment.
Pay-per-view content can be offered for retail or rent. So, access is either temporary or permanent.
Sometimes, such platforms allow viewers to download video content on their devices to watch without an internet connection.
Providers may combine several of the models described above. For example, pay-per-view and subscriptions. In this case, people can either purchase unlimited access to videos or pay for access to every single video.
These are the most popular money-making models for video streaming services. All these approaches have their pros and cons. You need to think thoroughly about which one will help you achieve your business goals.