In today’s multimedia world, there is an argument that content should be moving towards digital platforms. This includes, podcasts, blogs, and video. This really is not the case. The reality for most publishers is that the money is in the print. Thus, print is here to stay so long as that is the case. That said, it does not mean digital cannot provide further profits and additional touchpoints.
Video is the ideal example of this. The medium is the antithesis of print, which is why they are a perfect pairing for publishers. Content that print can cover video can, and visa versa. The same content covered in both forms has different feels and reaches audiences in different ways. Most important of all: they are the most versatile forms of content. They can both be distributed in numerous digital formats. Both can also be transformed into other formats, including having the audio stripped for podcasts and radio or text for blurbs and blogs.
Now print is already in a publisher’s wheelhouse, but video is not, especially when it comes to magazines. That means using video, let alone monetizing it, takes a lot of research and energy and trial-and-error. That said, there are some general ways to monetize video that publishers can take from other industries.
Creating subscriber-only videos
Many publications already use a subscription model to help increase revenue. Those that do not still understand the concept. Create unique editorial content, then tell audiences that if they want it, pay for it. Video is simply another form of content, so creating a gateway on a website or using private, subscriber groups on social media to make that content exclusive to subscribers is an easy jump for a publisher to make.
There are two ways to approach subscription-only videos. The first way is to tether the video into your existing subscription setup, meaning the videos would complement the editorial and be a part of your standard offerings to any subscriber. The other way is to make the videos under their own subscription, which is ideal if the publication is free or if the video content is 100% original and distinct from the editorial.
Bring editorial to life with live-stream
Video is not limited to the pre-record, edit, and distribute method. News coverage has done live coverage for decades, but it is now available to the average persona and organization, including publishers. Live-stream allows for instant coverage of a story, which can be great for timely pieces, as well as a round-up session where a publisher talks about the newest issue and top stories and so forth. It can also be used to add uniqueness to editorial and keep it active, even after the piece is publishers. Simply keep hosting new live-streams on that story’s page, and traffic will keep coming.
Publishers can also leverage live-stream on a subscription-boosting basis by putting access to the live coverage behind the subscription paywall. For example, you create this great editorial on an athlete, but you are doing a live interview with them too. The story goes up for free, but to access the interview live, or even the recordings afterward, you have to be a subscriber.
Educate the audience with video
Video courses are one of the most consumed things on the internet, and publishers have the opportunity to take control of that market. Publishers are constantly generating useful content that has an educational or recreational value to audiences. Changing that format slightly, or reformatting after publishing, to provide even more insight and education is easy with video. Better yet, let your advertisers do it. Then you get the benefits of video content related to your editorial, you didn’t have to create it, and you got paid for it.
Digital offers or partially-gated videos that offer educational value also help drive subscriptions. If the video is captivating and useful, and the audience can only access the first 3 minutes without a subscription, you’re likely to get people subscribing.
For more information on how publishers can leverage and monetize videos, click here.
If you want more great content from Publication Printers, click here.