You need more than popular content to generate ad revenue in the world of music video streaming. Your platform has to have a clear monetization strategy right from the beginning to avoid loss.
The streaming industry is growing exponentially in all sorts of content distribution. This includes music streaming as well. Music videos have turned out to be an exciting market for streaming service providers.
But, when it comes to OTT Video monetization of music videos, service providers need to focus on the following:
Attract subscribers with free services
The first step towards ad revenue generation is attracting consumers and building a relationship. This won’t be possible if you offer only a paid form of the service. A free service will allow the largest possible consumer group to access and use your services initially. Consumers will access free music videos, which will be supported by ads. That way, your platform will be open to a market of millions of viewers. They will enjoy your content and watch ads. This will turn into revenue.
In terms of incorporating advertisements, you can choose between display ads, in-content video ads as well.
While streaming a music video, your channel will showcase a short video ad in between songs. This means that your number of free subscribers will decide the ad revenue you attain. More subscribers will stream more and more videos will pave the way for higher revenues.
Along with that, you can showcase display ads on the bottom of the video screen, on the home page as well as the video recommendation area. Every click on such ads will return revenue for your business. This format also depends on the number of free subscribers you attain to increase the number of ad clicks.
Become accessible via multiple devices
Don’t stay limited to a single form of device. Expand your reach to every platform and device such as Android smartphones, iOS devices, smart televisions, laptops, desktops, and others. This approach will fulfill the requirement of more consumers. That way, you can maximize the impressions for ads and increase revenues.
The ability to discover a streaming platform on multiple devices is a parameter of quality these days. People stay on the move most of the time. So, their mode of content consumption changes from device to device. If your platform is accessible everywhere, it will become the preferred choice for your users. This will increase impressions and you will earn more money.
If your platform is accessible via only 1 or 2 types of devices, you are missing out on a huge market capacity. Even smart TVs and other screens can help you generate higher revenue due to the increased number of viewers.
The music video streaming business is the latest form of utilizing OTT monetization. The market has a huge potential if you know how to leverage the platforms and deliver popular content. Along with that, you can also give an option of premium accessibility at a reasonable price.