Creators know how important it is to constantly find new revenue streams. Technology is evolving faster than ever, with new devices and content channels making their way to digital audiences every few years. Meanwhile, a generation has grown up expecting music, films, and TV to be free. The download genie has not just come out of the bottle, it’s smashed that bottle into a thousand pieces. Unauthorized downloading of music and movies is no longer marginal – it’s the norm.
Audience attention spans are shrinking, and we want to make the most out of every moment, whether we are researching, browsing content, or learning something new. Why not use these shifting market dynamics to test new monetization channels? Here are 4 ideas to try.
Brands bidding for filmmakers
Put your creativity and your ideas into action and get brands to bid for your production skills. Today you can find an exploding industry of bidding platforms searching for filmmakers to create videos for their brands. The idea is to match brands’ need for videos with filmmakers. Filmmakers can use platforms such as Cinely, Zoopa, Mofilm, to enter communities of filmmakers bidding for brand proposals for web commercials, web series, social causes, and music videos (Genero.tv) Get paid anywhere between $2000 – $100,000 per project.
TVOD – Transactional Video On Demand
In today’s world, the demand to watch films instantly has never been higher. Transactional Video On Demand models like Vimeo On Demand capitalizes on this and enables viewers to watch a film immediately. Audiences can watch a trailer from an embeddable player, and if they like what they see they can pay a one-time fee to watch it, or purchase a “lifetime” license and download a digital file to own.
Ad Revenue Stream
Savvy creators recognize that different audiences require different user experiences to stay interested in their content. TVOD creates a Paywall between your content and digital viewers, visitors who land on a film site through marketing channels will more likely prefer watching your content immediately, or watch a short trailer. Expecting audience to “invest” their time by taking out their credit card, filling 3 or 4 fields, just to watch video is getting more and more challenging. While visitors from mobile for instance, tend to be more “fast video content consumer”, offering a video for a fee is not the best option. To accommodate digital users, consider offering your entire film for free with ad support. Currently streaming platforms such as Snagfilms, Hulu and Viewester (For animation) offer starts from $25 for CPM (Every 1000 views)
Film Production Content To Drive Sales
No matter what film you’re producing, people are probably already talking about topics relevant to your film somewhere on the internet. This gives you the opportunity to reach and build a community of fans to watch your trailers, read your synopsis, and engage with folks whose interests indicate they might post about you and your film on social media and blogs.
Indeed, creating an ongoing dialogue between you and your viewers, there is great value in reaching out to someone speaking generally about your film. A positive interaction might encourage them to follow you on social media, making it more likely that they will post about your company in the future.
Today there are multiple platforms you could use in order to create demand for your content. Use Taboola to insert your trailer and behind-the-scenes video content on relevant publications, or use your ‘About this film” written content to generate traffic to your film’s site with Outbrain. Or perhaps work Facebook video ads to generate views for your trailer and drive consumers to reach your Facebook page or film site. From your film site, offer TVOD, AVOD (Ad support) Cinema Screening, or other events you might want people to be engaged with.
Hopefully, this guide has helped you get a better grasp of how you could broader your revenue possibilities. Remember, it’s important to think of your content as a valuable asset and use multiple platforms to get your film distributed and monetized.