OTT video is the biggest trend in professional content delivery at the moment. Every year more and more people are ditching their cable subscriptions and moving to online content delivery. Twenty five percent of Americans won’t subscribe to a cable provider by next year. In Europe OTT-SVOD grew from a few million in 2012 to 75 millions in 2018.
Content owners and broadcasters are taking advantage of this trend by delivering their video content directly via OTT. What OTT essentially means is that the medium over which the content is being delivered (the Internet) doesn’t determine the content. It is the users’ preferences and wishes that determine what they watch. Also OTT doesn’t require users to subscribe to a traditional cable or satellite pay-TV service.
In this last post in our series on OTT monetization we’re going to examine the remaining two options for monetizing over-the-top video i.e. the PPV model and live streaming.
Monetizing OTT Video
Firstly, to start monetizing OTT video, content providers need an online video platform to deliver their content. It is possible to build their own server network to deliver video directly, but using an OVP is a lot easier and convenient.
That’s where InPlayer’s extensive partners’ ecosystem comes in. Our OVP partners make it easy to upload, stream, host, deliver, and monetize video content worldwide.
When using an online video platform for over-the-top video, monetizing can be a breeze as all that it takes is enabling certain settings in your account options, turning on monetization for a given video or set of videos ideally using InPlayer’s paywall solution and configuring a payment option so you can monetize your video efforts.
Pay-per-view, as a revenue model, started as one of the first pay TV’s premium services. With the explosion of new technologies for delivering video, the model evolved and nowadays it is associated more with the web, rather than pay TV.
PPV has a very important role for both consumers and broadcasters despite the addition of other new premium options. From InPlayer’s past experience and detected patterns directly from our client base, we are certain that pay-per-view remains a big market for broadcasters, and its focus is a no-brainer.
One of the ways for monetization that functions as PPV is the transactional model or also known as TVOD. This is basically PPV as viewers pay for each program that they choose to access. This is the model followed by iTunes, for example.
PPV gives the viewer the option to watch one piece of video content for a one-time fee. If you are just beginning your video content distribution this can be the perfect way of introducing people to your content without expecting them to immediately sign up for a subscription package. At the same time it is an excellent way to attract a casual viewer – someone who doesn’t necessarily spend a lot of time online but has spotted your brand and wants to interact.
PPV is extremely popular for sporting events as it allows the viewer to watch a one-off event without having to subscribe to watch a whole range of sports. A lot of TV networks provide this option. For instance Wrestlemania 30 was watched by approximately 667,287 subscribers and a further 400,000 on PPV.
InPlayer has launched InPlayer Moment to enable content owners to break out an additional offering with Live PPV of key moments. Keeping in mind that the audience is queen, this solution allows viewers to watch the content they want, when they want: the 10 last minutes of a game, conference highlights, post-match interviews, etc.
PPV is a great supplement to VOD (Video on Demand) for driving and prolonging viewers’ engagement. For movies, some users continue to use pay TV out of habit, even though broadband connections to the satellite operator’s set-top box and video-on-demand (VOD) provide greater selection and functionality.
Other Benefits of PPV for Your Business
PPV has some great advantages. Most notably:
Connectivity – due to advancements in technology PPV content is always accessible. Everyone from consumers to press can watch your content whenever and wherever.
Variety – PPV covers content that can be perfected and edited before it is distributed. You have plenty of time to record, edit, and preview your videos. There is room to improve your video as much as possible and add different effects.
Suitability – when live broadcasting is not mandatory and the content can tolerate delays in publishing PPV is suitable option. It is easier to implement and offers better video quality for users.
Revenue – it can generate large amounts of revenue. If you’re able to attract a decent audience size, income can add up quickly. Alternatively, you may have a very small target audience, but if they’re willing to pay a premium price for quality video than you’re still coming out ahead.
Live streaming presents the new wave of digital content promotion, and content consumption. It is growing in popularity and the main reason content providers should care about live streaming is simply because of its huge user base which continues to grow immensely every single day.
If we put aside the growth of users hooked on live content, live streaming presents a great way to drive revenue for any brand or business. In a report published in 2016 Research and Markets said the video streaming market is projected to grow from USD 30.29 Billion in 2016 to USD 70.05 Billion by 2021.
Live streaming can be very powerful tool to spread brand awareness across different channels and to various audiences. However, before implementing any live streaming strategy, businesses should review their objectives to ensure their tactic is in line with what they want to achieve.
Knowing its current state of development and usefulness, it is pretty common for live broadcasting to come up against various live streaming challenges which can present real obstacles to the overall video production of a certain event, or even hamper the growth of your channel.
Benefits of Live Streaming for Your Business
Real-time experience – when you do a live-streamed event of your brand, you are engaging with your audience. This gives people a sense of belonging to the moment because people love being part of stories as they happen. They actively learn more about your company and share details with their friends.
Interaction – live streaming provides a sense of excitement for your audience. During those events you can offer to poll, take questions and connect with your audience. That way brand’s stories are told more effectively. The live stream itself is inherently about building community. Customers feel inclusive and exclusive at the same time.
Cost reduction – some companies use live streaming as part of their training programs for new employees’ onboarding. Everyone receives the same training and product information simultaneously, thereby saving the company’s budget. Also, when hosting a live event, the costs of travel, lodging, and security should always be considered. Choosing to livestream an event can save a lot of money in the long run.
Different Events Have Different Video Needs
1. Concerts, sports or awards shows
These types of events are ideal for live streaming. However, they can also be syndicated for on-demand by including highlights of the events. You can do this by offering your content to an OTT channel.
Show your audience something they can’t attend or extra content they wouldn’t see even if they had attended, like behind-the scenes footage or an interview with someone notable during the event.
Again suitable for live streaming but can be offered later as on-demand. Broadcasting live conferences can reach executives, gain new business opportunities and clientele in general.
Live streaming of conferences is a valuable tool to encourage people who can’t physically attend to engage with your content in another way. You also boost national or global reach potential and build a new online audience.
You can also monetize your live stream conferences, something we’ve discussed in one of our articles on the blog.
3. Educational events
Educational events are mainly covered as PPV so anyone can watch a lecture or webinar when and where they need to. However, education-relevant videos go beyond the lecture concept, so schools have been live streaming scientific experiments, student performances and much more for some time now.
College professors can usually schedule a live lecture and then deliver that content on-demand for their students.
4. Press events
These types of events can be used to offer a live-stream link for your users who can’t attend. News timeliness is crucial so that viewers can listen or watch in real time.
You have a tremendous opportunity to build up the hype before the event and offer a live-stream link for anyone who can’t attend. It’s crucial to the timeliness of your news that viewers can listen or watch in real time. You can also take questions from reporters and consumers. Q&As, performances and panel discussions can all be live-streamed.
The growth of both live streaming and PPV is indisputable and not using either of the two means you are risking huge potential to grow your business. We need to constantly be looking for new forms and methods to reach out to our audience and building a brand presence.
Considering all characteristics of both live streaming and PPV technologies, many business successfully decide to combine them. No matter what your preference is, knowing your audience is a good start for future engagement. The content you create should always be exciting and niche relevant. It is the only way to build momentum and discourse around it.
However, wherever you are on your OTT monetization journey, it is crucial to have the most reliable and secure tool for the monetization of your live, PPV and on-demand video offerings. InPlayer’s clients and partners are given the global reach to support large scale audiences with the cost efficiencies expected with SaaS platforms.
With its flexible monetization options, InPlayer helps content owners to tailor their video monetization strategies to serve their audience with a solution that meets their needs.
Do you have a live event coming up and looking for more information about how live video can help you grow revenue? Our Playbook for Success features best advice and insights. Download our free playbook now! https://inplayer.com/playbook/