To earn money on YouTube, you need to meet a bunch of requirements. To start monetizing your channel, your channel has to have over 4,000 hours of views within the past 12 months. Moreover, you must have at least 1,000 subscribers. And you will earn around $20 for 1,000 ad views. That’s a lot of views!
Furthermore, YouTube will take about 30 days to review your channel and approve your desire to monetize. If the application is denied, you need to wait another 30 days. That’s a long time. You could generate a lot of revenue.
Fortunately, there are alternatives to YouTube, such as OTT platform. They can help you generate money from the start.
3 crucial tips when creating your video streaming platform
Learn the basics about OTT platforms
Launching a video streaming platform without knowledge about it is like taking exams without prior knowledge and preparation. You need to learn how it works and why some elements like, for example, an encoder are necessary.
It is better to do research in the market and learn the basics about OTT platforms. Luckily, companies developing an OTT solution for video streaming write a lot in their blogs about the sphere. It won’t take a lot of effort to find the necessary information. As a result, you will be aware of the operation process.
Choose the right monetization model
OTT platforms are often designed so that content providers can generate more revenue. They generally have three common monetization models embedded:
- AVOD platforms make revenue from advertisements made by other companies. Usually, content on these platforms is free of charge.
- Ad-based video streaming services have an advantage because they use server-side ad insertion technology when running ads. It means that an ad is stitched to the video as if it was part of it.
- SVOD platforms generate money through subscriptions. People can purchase a subscription to the platform for a period of time – a month or an entire year. They get unlimited access to video content and can enjoy it at any time they want.
- TVOD services are also known as pay-per-view platforms. The provider lets viewers pay for every video they want to watch. The period when a video is available for viewing can vary.
Maybe, you want to use a hybrid monetization approach. You can combine several models and allow your customers to choose the preferred way.
Explore the market
The OTT market is expanding day after day over the past few years. It means that the competition is also getting fiercer. And it becomes more difficult to stand out from the crowd and offer something unique.
But you still have the opportunity to make a name in the video streaming industry. You should explore the market to learn what niche you can fill. What do people mostly watch? What do the streaming services miss? What else can you offer to the OTT streaming world?
If you cannot create something unique, it still doesn’t mean that you cannot enter the OTT market. We believe that everyone can find their viewers.
Remember to learn the audience’s needs, pains, likes and dislikes, and life values. Knowing this information will help you build stronger relationships with viewers.
OTT video streaming platforms are more profitable than YouTube. You don’t need to match certain requirements to start monetizing your videos. You can start earning money from the first day of launch.
Moreover, if viewers enter your platform, they don’t immediately leave it. They cannot switch from your content to someone else's. They watch only your videos. Nothing distracts them.