Coursera, Skillshare, LinkedIn Learning—do these names ring a bell? All of these platforms offer online courses to students, professionals, and others to enhance their skillset. Online education has seen steady growth over the years. Being valued at $107 billion in 2015, it is expected to rise to $325 billion by 2025.
With the onset of the pandemic, these numbers have just risen owing to schools, universities, and companies being forced to either shut down or work remotely. More and more institutions have understood the value of educational video subscription platforms and are taking steps to enter into this market.
Why E-learning Subscription Platform is Popular in 2021
It isn’t surprising that many educational institutions have taken to offering online courses to students to complete their vocational training and earn certification. More than 60% of internet users claimed to benefit from e-learning as it fits their lifestyle.
Udemy, one of the most popular learning platforms, has over 20,000 experts and 12 million students taking up courses according to the statistics published by Skillscouter. Not just educational courses, many corporates have shifted their training modules to online platforms. In the US alone, corporate training in the form of e-learning has taken up over $100 billion of the market share.
E-learning subscription platforms allow you to easily access any educational content and training materials through a website or an application. This way of mastering skills is a great way to learn at your own pace and increase your knowledge. Online education subscription platform is seeing a great rise this year as many institutions and companies are moving towards servicing the high-demand for e-learning.
The e-learning industry isn’t new but has been in the industry for over 20 years. Experts had predicted a rise in the demand for online education, but the pandemic has led to rapid adoption by service providers and consumers. Online education encourages learning for even the shy and reclusive, who otherwise would not feel comfortable joining the discussion in a classroom.
It is also a great way for content creators to monetize their services by charging a subscription, pay-per-view, or using advertisements to generate revenue.
Features of Educational Video Subscription Platform:
Easy & Powerful CMS
A good educational video subscription platform should have a powerful Content Management System (CMS) to provide a good user experience in playing video on demand. Easy to upload, store, organize and access video content is a must for content creators and users alike. The availability of servers across the globe with good CDN (Content Delivery Network) will help easily stream videos for users all around the world.
Set Your Own Pricing
A video subscription platform allows you to charge for your content and services at the rate you want to set. There are no restrictions on what the prices should be or any guidelines that dictate you to reduce your rates based on the platform. You can set your own pricing system and earn from it.
With the move to e-learning, payment integration with high security and the ability to collect all modes of payment should be done. Not just one-time payments but recurring payments by users and auto-pay features are something to be explored while building educational video subscription platforms.
Fully Profitable for Institution
Having your own educational video subscription platform has its advantages and one of many is that you get to keep 100% of your earnings. Unlike other platforms where you need to pay up to 40% of your revenue or portion of your earnings as commission, your income is collected by paywalls and debited to your account directly.
High-level Security for Content
When you create an online video education platform, ensure your content is backed by high security. This reduces the chances of hacks leaking valuable information on not just your content but also your consumer database and their payment information.
Real-time Analytics to Track Students Engagement
Get real-time analytics to see how your students are responding to your content. This is valuable feedback on how engaging your content is and its ability to keep students hooked on the educational video. You can use this information to update your content and make it more interesting and easier to understand.
Supports VOD and Live Streaming
Whether you want to create a pre-recorded educational video to support your consumers’ needs or live stream an online class, your educational video subscription needs to be able to handle both. Making live-streamed videos available to replay at other times is also beneficial to students who might have some confusion or miss out on valuable inputs.
Monetize Video and Combined Subscriptions
You can earn in online education by creating a subscription-based educational platform that charges per week, month or year depending on your content and lesson plan. You can also look into pay-per-view subscriptions and advertisements as a source of revenue when you build your platform. Some service providers use a combination of two or more to create a hybrid payment system that makes it easier for students and professionals to access videos.
Scalable Revenue Generation
Your content can steadily provide earnings as the years go by with minor changes to update content to match the ongoing trends and facts. You could choose to provide exclusive content for members only creating lucrative promotions to attract consumers to pay a premium on their subscription. The revenue generation increases steadily when you provide high-quality unique content for your consumers.
How to Build Your Own Educational Video Subscription Platform?
Creating the Effective Video Content
Start by creating unique video content and of high quality. This is the basis for your service and will encourage more subscribers if you provide information that lets you stand out from the crowd. Always focus on editing to make it more engaging and easier to consume.
Enroll with VPlayed for Self-hosted Platform
Contus VPlayed has all the features to let you create an effective and interactive online education platform. Simply enroll with VPlayed to build a self-hosted video streaming platform with a great CMS, high security, paywall integration, 100% customization, and more. It also offers over 6 monetization methods, marketing strategies to help you increase your revenue.
Pick Your 100% Customizable Design
Customize your streaming platform to resonate with the content you create. The design, themes, security, monetization, and other features can be tailored to help build your brand. Keep in mind that your brand’s retention value is based on consistent branding throughout the platform.
Easy to Use CMS for Upload, Organize and Distribute
VPlayed comes with the option to easily upload and store your content including bulk uploads in our video CMS. You can also segregate and organize your content based on your system in the content library making it easier to access. Our platform has unlimited storage to meet your needs.
Monetize with Subscription Services
We offer subscription-based monetization paywall integration with six models to earn revenue. You could create members-only content b. offer unique niche entertainment like Netflix c. all-year-long access for seasonal content creators d. offer exclusive content for members e. share video content with your community based on their principles and f. ensure you complement online content with other business strategies like in-person meets.
Empower With Secure Content
Your content and information should be backed by strong security to ensure there are no leaks in your video content or consumer database. Having a secure subscription-based monetization paywall can lower the chances of copycats and content thieves.
Promote Your Subscription Platform
Market your video-subscription website or app using social media and advertisements to target key audiences. Don’t just focus on external marketing but make use of your platform to create in-built marketing in the form of recommendations, suggested and trending courses, and notifications on applications. Many platforms use machine learning to adapt to the users’ behavior and provide valuable suggestions.
Use analytics to understand your consumers’ preferences to generate content relevant to them and make business decisions to promote educational videos that are useful to them. This way you ensure a steady rise in your income. Also, introduce more features to your platform based on the need of your consumer.
E-learning has a vast growth opportunity and is a lucrative field to tap into. Many institutions have started using online teaching platforms to advance their revenue potential and lower overhead costs. You can also become a part of this billion-dollar industry by building your education video subscription platform.
Reaching to the core of this article gives more insight over the concept and the need of building your own brand when it comes to building an Educational Video Subscription Platform.
And if this has inspired you to move ahead having your brand, your identity. Then just feel free to contact VPlayed, another name of perseverance and dedication.