An online source revealed, ‘’the global enterprise video market is expected to reach $40.84 billion by 2022. ‘’
Education has moved away from the four-wall classroom to a diverse platform. Online sources revealed, ‘’More than 3million students are fully taking online learning for their higher education.’’
This popularity leads video business owners to create a revenue-generating business model. Creating an educational video platform that offers a great monetization model can lead your business towards a successful path.
But which monetization model can derive better results for your educational streaming service? We have listed the top 7 with all essential information to help you make your decision better.
7 Prime Monetization Models For Online Video Education Platform In 2022
1. Advertising (AVOD)
AVOD stands for advertising video-on-demand model. This is a popular choice of monetization as video owners can earn from the ads displayed on their platforms.
AVOD models are gaining popularity as more users increase their viewing habits with platforms like yours. The ads can be catered based on the user’s actions, deriving better results.
- There are more chances of ads being viewed since ads are customized based on students’ interests.
- Since most video educational platforms have analytics, it becomes better to analyze the actions of the ad.
- Ad blockers are on a high, so this can impact your platform as well
- For students especially, ads can be annoying or distracting
Subscription is another popular monetization model. Here users will pay a fee for a period of time to access the unlimited content library you provide.
This fee is payable on a monthly basis or as per the terms of the video on demand content owners. Most of the popular educational video streaming services offer this monetization model the highest.
- Students can pay an affordable fee for a time period they prefer
- Students have access to a huge content library that matches their interest
- If students are keen to access just one content, this model will not work for them
- Few video education platform charge a larger subscription amount that is not feasible for certain users in the audience
3. Pay per view
As the name suggests, students can access any educational content by paying a fee.
This is a popular monetization model, as students will only pay for the content they wish to view. This is great for those students who don’t want to pay for bulk content.
- Pay per view model is convenient. Students can pay a fee to access any specific content.
- Easier for students who wish to view just one type of content
- This model works well only if students believe that the content shared is of value to them
- Students using this model have a lesser chance of subscribing to your platform for the long term
4. Premium Subscription
Premium subscriptions are growing popular with time. Here students can access exclusive content earlier and by paying a fee.
Most exclusive content is rare to be accessed or found. Thus video content owners like you can take advantage of this and drive more revenue via this model.
- This model works well to turn multiple eyes and compel them to access the exclusive content
- When students receive valuable content, they won’t hesitate to subscribe to the premium monetization models.
- Premium subscriptions can be an expensive affair for your audience.
5. Group Subscription and additional education videos
As the name suggested, multiple users can access your platform based on a subscription model. This could be educational institutes, groups of teachers, etc.
This is a great monetization model to consider for your video streaming services for education. First, you can engage with multiple third parties for AVOD purposes and exhibit discounts to capture your audience’s attention.
- Partnering with multiple other brands can lead to better Ad opportunities
- Group subscriptions are on the rise as it is cheaper
- Most group subscriptions engagement with platforms like you are limited to a shorter time
- Since many users can use one account, privacy issues or password sharing remains a high disadvantage
6. Affiliate Marketing
Another great way to generate revenue from your educational video platform is to engage with an affiliate marketing program.
You can promote the educational videos on your platform and earn a commission when any student visits the website promoted.
- Affiliate marketing generates revenue much faster when compared to other forms of revenue-generating models
- Commissions earned will increase over time since building affiliate marketing partnerships will increase simultaneously
- It is important to choose the right affiliate program, or the partnership will not result in growth or money
- Getting students to click on partnered websites can be difficult
Donations are a slow but great choice to generate better revenue on your live streaming for an education platform.
When your audience donates towards your platform, you’re not just growing revenue, you’re also forming a better relationship with them. They invest in you cause your educational streaming service adds value to them.
- Simplest way to build a better bond with your audience
- Your audience donating towards your platform are your loyal audience
- Generating revenue via donations is a slow process
- Not all of your audience will donate towards your platform
Choosing the right monetization model that suits your online video education platform matters. Now that you have the technique to generate better revenue, it’s time to build an educational video platform.
To get started without any difficulty, it is suggested to invest in a reliable educational video platform provider. They are experts in this field and offer tons of features that will better enhance your educational video platform. So, tell us when do you plan to get started? Which monetization model are you choosing for your video platform for education?.