The world is moving towards online video services consumption at a very fast pace. Consumers’ expectations are varying with the available gamut of digital assets. With the advent of OTT in the digital era, consuming video services over the internet has become a very different experience which is reliable, easy and truly a mobile experience.
Over the top services allow people to consume the content of their choice, get the access to the content wherever they are connected to internet and pay only for what they view. This makes people opt for these services as they can get reliable access to content over the internet with the new technologies.
In order to maximize business revenues you can think of various strategies that include,
Ad based – Ad-supported videos allow users to watch content for free, however they are supposed to watch advertisements at various points throughout the video. Part of the ad revenues are shared with content providers.
Ad free subscriptions – Gives your customers a good and uninterrupted video watching experience as this model is not ad supported. They are provided with choices to watch while they subscribe and pay on a monthly basis.
Restricted content subscriptions (Hybrid – Free+Paid) – This particular model offers customers who are subscribed to your services with limited free to watch content and will charge for any other content that user chose to watch.
Video On Demand (TVOD, SVOD) or Pay Per View (PPV) – Customers who prefer TVOD will be charged for individual video on demand program and those who chose SVOD are charged monthly for accessing full video library.
Loyalty Programs – With loyalty based programs, operators can encourage loyal customers to come back on a regular basis and recommend business to their other friends and family. This is an effective way to generate additional revenues and acquire new customers.
Multi room / second screen (Device based) – If your subscribers desire to take their content with them wherever they go and whenever they go, this is the right model that service providers need to adapt in order maintain subscriber loyalty and yield added revenue streams.
Social TV – It is known and widely accepted that customers no longer wish to just sit and watch a television program. They are proactive in sharing their views and opinions on what they are watching by commenting through smart phones and connected devices. Cable TV operators should leverage this and build Social apps for smart phones with which they can gauge viewer engagement and personalized and additional content. This model helps your business attract and retain customers.
Catch-up TV services – A viewer would not want to miss his favorite program broadcasted in television. With catch-up TV services, you can provide viewers with access to programs, via the internet. This model not only let you offer additional content to your audiences but also increase reach across both TV and online audiences.
With the range of available business models, it’s time for you to identify the right model that brings in new revenue streams and help compete with the price pressures adopted by OTT players.