Since YouTube started the monetization feature on its platform, there has been significant growth in the vlogging niche, and to clearly define this segment, the term ‘YouTubers’ was coined.
While being a YouTuber is still not considered a viable profession by many, YouTubers have made a lot of money from their namesake platform. There are several ways a YouTube celebrity can make money both on and off the VOD platform.
- Brand Sponsorship
- Super Chats
Here, the business model is purely platform-dependent and, while the revenue depends on the number of subscribers, it’s not really the people who are the paying customers.
Need For Monetary Diversification
Almost all of this money comes from YouTube. It is quite unwise to depend on a single source for a majority of your income. As people start to grow their careers and make more money, they create contingency plans, and a major part of this process is monetary diversification. It involves creating multiple smaller income sources instead of a large one.
This way if one of the sources is compromised, you won’t be affected as much as you would have if all your entire income depended on it.
Moreover, YouTube undergoes constant changes in its rules and policies which makes it a highly unstable and unreliable source of revenue.
6 Additional Ways to Monetize Video Content for Creators
Vplayed platform provides a number of video monetization options to go with your business model.
1. Subscription VOD
Subscription plans are one of the most widely used monetization techniques. It involves providing access to the entire content (or a part of it) for a recurring monthly or yearly price. Online video streaming platform giants like Netflix and Amazon Prime utilize SVOD, giving access to content at a reasonable monthly price.
- Ideal for channels with a large array of video content
- Access control through paywalls
2. Transactional VOD
Mostly used by enterprises and commercial websites, TVOD implements a one-time payment for access to limited content. The access is limited through availability time and/or number of views. The price point is significantly lower than SVOD but the number of videos is also limited accordingly. Google Play Movies uses TVOD plan for their content.
- Ideal for channels with a small collection of unique content
- Access through paywalls
3. Advertising VOD
This is a classic YouTube monetization method. The content is available for free with video ads at certain intervals that interrupt the video. This is by far the most used plan and the least favourite when it comes to consumer experience. People don’t want their videos to get interrupted; it puts them off. But even so, AVOD business model is the best monetization method to build audience along with making revenue.
- Ideal to build viewer base and revenue simultaneously
- Free access
4. Third-party Ad Servers
There are several advertising organizations that act as a mediator between the company that provides the ads and the platform that displays them. They are called ad servers. Incorporating third-party ad servers in premium VOD platforms allow the platform to push tailor-made advertisements from those servers based on the user demographics.
- Deployment of user-centric ads
- Faces issues with Adblock and other similar extensions
5. Server-side Ad Insertion
Integrating (or stitching) ads with the video content directly from the server ensures that ads aren’t affected by ad blocking application. This also usually removes the need for a third party since such ads are directly delivered by the producer of the ads.
- Can bypass ad blocking apps
- Smoother and faster transition from ad to video
6. Catch-up TV
Catch-up TV is a relatively newer form of video delivery where TV shows are displayed on VOD and OTT platforms post airing. The platforms charge a certain one-time price for viewing the show, similar to a TVOD programme.
- Unique content attracts traffic
- Can help cover non-targeted demographics
In essence, asset diversification on a monetary basis is essential. Without it, the level of risk to income increases significantly and by extension, risk to the business as well.
Creating your own streaming platform from OTT platform providers is one of the best ways you can diversify your revenue and get control of your income. You can create your own rules without restrictions and it also immensely helps in marketing your content and brand.