by Frank Besteiro
You’re the proud owner of a new long-form show or movie, and now it’s time to monetize it. For most of us in business development, selling the exclusive streaming rights to a subscription service like Netflix or Amazon is one of the first options that comes to mind. And why not It’s simple, it’s proven, and compensation is guaranteed.
But just as we’ve seen content itself change over the years, so too must our business strategy for that content to evolve. It’s not enough to copy and paste a model from traditional TV — or even short-form digital — and call it a day. Rather, it’s time to enter into a brave new world of long-form monetization, circa 2015.
Up until now, subscription services, ad-supported content, and a la carte options have all been championed to varying degrees of success. But there are flaws with each: subscription services require a laser focus on customer acquisition; ad-supported content can frustrate viewers; and a la carte purchases present a higher barrier to entry because who wants to pay per episode of his favorite show
Consumers today are highly sophisticated, and their viewing habits have dramatically evolved. They are able to intuitively assess what different content is worth, and then act accordingly — either by punching in a credit card number or patiently watching pre-roll.
That’s a good thing, because it forces content creators and distributors to stay one step ahead. And while there’s no magic formula, there are a few guiding principles that will help lead the way as we, in the business, determine how best to monetize to today’s world.
This article was originally posted on VideoInk and is reposted on [a]listdaily via a partnership with the news publication, which is the online video industry’s go-to source for breaking news, features, and industry analysis. Follow VideoInk on Twitter @VideoInkNews, or subscribe via thevideoink.com for the latest news and stories, delivered right to your inbox.
