As the creator economy has continued to boom, an increasing number of companies have released video monetization tools and strategized a comprehensive approach for video monetization—whether it is through advertisements, affiliate links, brand deals or donations. This has been particularly common in the media and entertainment industries, with many social media platforms releasing their own monetization tools and video subscription services popping up left and right. In fact, the monetization of video ads on content distributed via smart TVs alone is expected to reach $44.2 billion by 2022.
Monetizing your videos is a great way to generate passive income. If you have the right resources on hand, you can do so very quickly and without a lot of extra effort on your part. In this case, we’re talking about video sites like YouTube. You may be thinking that YouTube is owned by Google and is only a video-sharing site, but they actually have a program set up to enable people to monetize their videos. This means that you can upload videos and get advertisements on them. You’ll get a percentage of the money that comes in through those ads. This can be a very good way to make money!
However, YouTube is not the only way to monetize videos. In fact, there are many ways to make money by creating videos such as: video monetization platforms, brand deals, promotions, display ads, affiliate links, and donations.
In this blog post, we’ll be focusing specifically on video monetization for broadcasters, YouTubers, and content creators and what its top benefits are.
Benefits of Video Monetization
1. Increased Revenue
Businesses can generate significant revenue from video advertising. Overall, digital ad spending is increasing year over year. According to a report by Digital TV Research, video advertising revenue will reach $47 billion by 2023. That represents a sizable chunk of money up for grabs.
Businesses that utilize video monetization platforms are reaping the benefits. Companies that use video, in particular, grow revenue 49% quicker than non-video users. As a result, the first and most crucial benefit of video monetization is the generation of significant revenue and opening additional revenue streams.
2. Sophisticated consumption experience
The ability to reach more audiences across multiple devices is a big bonus for creators. When you monetize through a subscription or pay-to-view fee, your followers know they are about to gain access to something that’s high-value. So, when you, as a content creator, use video monetization platforms as an approach to drive in revenue, your followers reap the rewards of exclusive high-quality content.
With video monetization tools like Retrieve, your followers get loaded features that enrich their consumption experience. Whether it is one-on-one multimedia chat in the form of audio, video, text or advanced translation features, a dedicated video streaming platform creates a win-win situation for you and your followers.
3. Reach More Devices
The third advantage of video monetization is that it allows you to reach a larger audience. Maximizing views is critical to ad revenue. The more people who watch your video ads or pay for your subscription, the more money you can make.
According to one survey report, more than half of people (52%) would want ad-supported free content. That’s a significant number.
And more than 69% of US households use over-the-top (OTT) services, with 38% subscribing to two or more services. It’s pretty clear that many people are willing to pay to access good content, whether that’s through a subscription or their time spent watching ads.
Video monetization helps grab more audiences because you offer them more than just content. By providing a remarkable experience, you ensure your content is reached out to more devices, thus augmenting your revenue.
To sum up
According to Apester’s global survey, 60.1 percent of respondents are fed up with comparing so many streaming solutions. Only 16.5% feel that having so many options is a good thing. This is when video monetization platforms like Retrieve come into the picture. Having one sophisticated tool to stream educational and informative content benefits the user experience. And an ad-free approach to stream high-quality, valuable content is what the internet user needs today.
While the “subscription fatigue” of the OTT is becoming more of an issue, it is also fueling increased innovation in the video monetization industry. Providers are increasingly using pay-per-view and advertising monetization as alternative options to subscription monetization. And we see this trend continuing long into the future.
Whether you’re a content creator or a content consumer, check out Retrieve.com to upload and consume valuable guides, courses, training materials and e-books.