If you’re in the business of selling videos, whether they be movies, TV shows, educational videos, or any other type of video content, then you need to have a video subscription service. A video subscription service is a great way to generate recurring revenue and build a loyal customer base. But how do you go about building one?
A video subscription service is a streaming platform that allows users to watch videos on demand. It’s similar to a TV channel, except it’s all digital and available on any device with an internet connection. While most people think of Netflix when they think of video subscription services, there are many other companies that offer these types of platforms, including Hulu, Amazon Prime Video, and HBO Now.
Here are some tips:
- Find a niche
The first step is to find a niche market. There are all sorts of video subscription services out there, so you need to identify who your target audience is and what kind of videos they want to watch. Are you targeting movie buffs? TV junkies? Fitness fanatics? Once you’ve figured out your target market, you can start creating content that appeals to them.
What kind of content would they find valuable? What would they be interested in watching? Once you have a good understanding of what your audience wants, you can start brainstorming ideas for videos that meet those needs and interests. Remember, the goal is to create content that people will want to watch so they’ll keep coming back for more. This means you need to regularly update your library of videos with new content so people don’t get bored and unsubscribe from your platform.
2. Create high-quality content
If you want people to subscribe to your video service, you need to offer them high-quality content that they can’t find anywhere else. This means investing in good production value and creating original content that your target audience will love. It’s also important to keep your content fresh by regularly adding new videos. You can create original content or curate existing content from other sources. The important thing is that you create videos that people will want to watch.
3. Pricing your subscription service
There are two main options when it comes to pricing: charging per month or per view. Which option you choose will depend on your business model and goals. If you’re looking to generate as much revenue as possible, then charging per month would be the best option since people will be paying regardless of how often they use your service. However, if you’re looking to engage customers and get them to use your service regularly, then charging per view would be the better option since people will only pay when they actually watch something on your platform.
Once you’ve decided which pricing model you’re going to use, the next step is setting a price point that meets your business goals while also being competitive with other similar services on the market. To do this, look at what other companies are charging for their monthly video subscription services and set your price accordingly. You don’t want to charge too much or too little – find a happy medium that meets the needs of both your business and your customers.
4. Promote your service
Once you’ve built up a library of quality content, it’s time to start promoting your video subscription service. There are many ways you can promote your platform, including paid advertising, social media marketing, email marketing, and word-of-mouth marketing. Figure out which promotional channels make the most sense for your business and start using them to reach potential subscribers.
A video subscription service is a great way to generate recurring revenue for your business. But before reaping the benefits, you need to put in the work to build up your content library and have a marketing strategy to bring in subscribers. FanHero’s platform is a complete white-label, cloud-based video content platform, offering everything you need to start running your business content operations. Head to our website today and find out more about how you can take your content operation to the next level with FanHero.
