Is video on demand a viable source of revenue for you?
Let's be clear: Video on demand has experienced an incredible boom in recent years.
Last week we told you why video on demand is the future of audiovisual content, so today we won't go into it in depth.
As has happened thousands of times throughout history, when a business model starts to grow, the first ones to arrive get the biggest slice of the pie have always been and always will be.
For that reason, now is the perfect time for you, if you are looking for a new source of income, to consider monetising your knowledge through video on demand, as you will be one of the first people to join a high potential business.
I can imagine what you're thinking:
This all sounds great but... How can I turn video on demand into a source of income? Is this really for me? Where do I start?
PLAYBAK is a video on demand platform where you can publish your content. We take care of the technical side so that you only have to worry about creating great videos. We can answer all your questions about this business and help you grow in the art of video streaming.
Now that you know where to start, let's take a look at what the video on demand business is all about and if it's for you:
How to turn video on demand into a revenue stream
The main way to turn video on demand into a business is by giving classes on a subject that you have already mastered. Your students will pay to watch each of your videos (classes) or to subscribe to the channel and have access to 100% of your content, in other words, to all your teachings.
As we have already mentioned, you need a platform to host the videos and manage the subscriptions. With PLAYBAK you have all that technical part covered, plus you can create an effective landing page or sales page to get more subscribers every month.
Is video on demand a viable source of revenue for you?
Video on demand will be a viable source of income for you if you meet one or more of these requirements, pay close attention to number 7:
You master a subject so well that you feel able to teach it
Maybe you're a Photoshop beast, your make-up is Oscar-worthy or yoga holds no secrets for you.
The subject you master is not as important as the passion you put into it.
When it comes to video on demand, all subjects are welcome, because there will always be people who want to learn what you already know, and who will be happy to pay for it. We often feel that paid content is more comprehensive than free content.
Do you need to formally study a subject to deliver it on streaming video?
Having formal training in the subject is very important, and your students may take you more seriously if you do, but it is not compulsory. You can teach a great photography course thanks to all that you have learned in a self-taught way, and the course will not lose quality because of it.
The only essential thing is that you like the subject, have extensive knowledge of it and want to share it with others.
On the other hand, bear in mind that you don't need very advanced knowledge either, as many of your students will be beginners in the subject.
Even if you have professional knowledge, it is best to teach the subject gradually, starting with the basics. This will also give you confidence if you feel you are currently at an intermediate level in your sector. You can willingly teach what you already know while you are still learning, which will also motivate you to continue your training.
You love to share your knowledge
You don't know why, but you love teaching others. Sharing your knowledge and seeing others move forward in their lives brings a smile to your face.
If so, then video on demand is a viable source of income for you.
Do I need to be a teacher to record video on demand?
Teaching face-to-face or online classes will give you some experience in guiding the content. It will also give you a better idea of the common objections of your students, so it is an advantage, but not a prerequisite.
You love the camera (Or the camera loves you)
If instead of feeling shy in front of the camera, you feel an overwhelming confidence that pushes you to give it your all, video on demand is for you!
Offering a good on-demand course requires fluency, self-confidence, joy... your students want fun classes where they feel comfortable as well as learning. Remember, your goal is to make them always want more.
Do I have to be born with movie star skills?
Far from it, the important thing is to feel good in front of the camera, no more and no less. If you don't, but something inside you tells you that you can overcome your shyness, video on demand is for you too.
You don't need to be the funniest person in your group of friends, or tell jokes, or have an irresistible attraction, just be at ease.
Can I practice it?
Of course, everything in life is a matter of practice and a few days rehearsing in front of the mirror will work wonders.
Natural talent in front of the camera is a great asset, but if you don't have it right now, remember: it's all a matter of time.
You are looking for a job that gives you freedom
Maybe you already have a job and want to replace it or you feel it's time to try something new.
What is clear to you is that a conventional 9 to 5 job is not for you, that earning the same every month and not being able to scale your income is not your cup of tea either.
In that case, video on demand can satisfy that entrepreneurial streak that beats so strong inside you.
When you open a streaming video channel, you choose the content to publish, when to record and you have no income limit. The freedom in this way of working is total.
What if security is more important to you?
If you meet the rest of the requirements, but you are a person who values security over freedom, video on demand may also be for you. The freedom of schedule it provides allows you to combine it with your work or turn it into a source of extra income.
If you run a hairdressing salon, for example, you can record on-demand videos of hairstyles or haircuts, thus increasing the profits of your current business without any risk.
You already have a blog or social media with a large following
If you already have a blog, YouTube channel or social media (Twitter, Facebook, Instagram, TikTok) with a large number of followers, you can monetise them by including links to your streaming video channel.
How does this work?
Imagine you have a cooking blog, no matter if you use it professionally or as a hobby. Your followers are passionate about cooking, and if they follow you, it's because they like the way you teach.
Recording videos on demand about cooking, with exclusive recipes and teachings from 0 to 100 is a way to monetise your blog, as you already have a large portfolio of potential customers (followers) interested in what you offer.
Again, are we talking about an indispensable requirement? No, but it is something that will be of great help in sales.
You are passionate about the world of technology
You're up to date with the latest cameras, you know your way around microphones and you know every editing app there is.
You move like a fish in water between electronic gadgets, your computer is an extension of your own body and you don't mind spending the day connected to the internet.
Video on demand requires editing, knowing the best equipment to get quality content and some internet notions for promotion and subscriber acquisition.
If technology or the internet world is an important part of your life, there is a good chance that video on demand is a viable source of income for you.
A word of advice? If you're serious about these topics, a technology streaming video channel might be for you.
Your intuition tells you to go for it!
Maybe you are reading this and you meet some of the requirements, maybe very few, or maybe you don't meet a single one, but something in your head says Go for it, this will work for you!
If that's the case, we have nothing more to contribute, except to recommend that you listen to your heart. When something catches our attention, we see it everywhere and our soul resonates with it, chances are it is for us.
If you've come to the conclusion that video on demand is a viable source of income for you, remember that at PLAYBAK we can help you turn that dream into a stable business model.
Join PLAYBAK by registering in the BETA version, be one of the first 50 to join and do it for free. Become a #Playbaker and get traffic today.