How to efficiently monetize your app or channel on CTV?

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In the world where video content is King, Connected TV (CTV) is getting more and more popular. The content creation is easier than ever before, which opens the gates for global sharing and being rewarded.  According to eMarketer, an average US adult spends almost 2 hours a day watching CTV content, and by 2021 it is expected that the number of digital video viewers in the US will amount to 73%.  Roku, Apple TV,  and Amazon Fire TV are the major leaders in the CTV streaming environment according to 42 Matters. These three platforms cumulatively have over 40 000 apps with almost 30 new apps being published daily.  While it’s often hard to choose from a restaurant menu, how is it possible to choose from thousands of apps even if they are sorted by categories? 

Make your channel stand out

There are two major ways you can create your channel: you can either make it yourself using the guidelines provided by streaming platforms or resort to developers or specialized companies, such as Vlogbox. Whichever way you choose, make the appearance of the channel as appealing as possible by doing some obvious but important things when competing with 40 000+ apps:
  • install the high-quality images for the thumbnail and upload a hi-res image of your logo;
  • choose the right category;
  • upload high-quality content;
  • make navigation through your channel clear and comprehensive.

Choose ways to monetize your channel

So, you have got a channel and you already have and keep on generating content. Congrats as you’ve reached a certain amount of subscribers, and everything rolls just fine until you realize how much more money you could be potentially earning. Or maybe you are just thinking of starting your channel. Now there are various options to monetize your app depending on the platform. The main ones are:
  • Subscription-based model (SVOD), usually used for a dedicated and loyal audience. This type of monetization provides access to services for viewers who pay for the subscription. Netflix is the first that comes to mind.
  • Transactional-based model (TVOD), is aimed at a situational audience that is interested in a particular product. For instance, the purchase of a Screensaver app is TVOD. 
  • Advertising based-model (AVOD) is usually used for a wider and less specific audience. This type of monetization allows ads to appear on your app. It can vary from product placement and video commercials to sponsorship and infomercials.   
  • Donations are designed for a very loyal audience. Donations don’t come through CTV directly, meaning users can’t push a button to donate, but they can transfer money through a provided means (PayPal, website).

Choose the best platform

Native platforms Native streaming platforms provide an opportunity to create your own channel and share your videos with millions of relevant audiences. They tend to have a user-friendly interface and a variety of basic options. Depending on VOD chosen, you can monetize in different ways, from subscriptions to purchases. Ad networks You can sign up with a video advertising network by adding their code to your channel. Usually, they just stream ads on your channel and pay you per thousand views (CPM). There are thousands of different ad networks these days, so eventually, you can sign up with more than one.  Video monetization platforms VlogBox is an example of a video monetization platform that also helps develop a channel/app. It takes away all technical issues from creators by designing and building your own app, offering various CTV platforms to choose from, as well as various methods of monetization (depending on the platform). With VlogBox you get the highest market CPMs thanks to its partnership with 55+ global demand sources. VlogBox also takes care of the promotion of your channel among competitors, adjusting marketing strategies according to each platform specifics, so in the end, you are left with creating content and the video monetization platform takes care of the rest. 

Takeaways

Basically, it all boils down to how much time, money, and enthusiasm you have. If you are looking for a time-saving and effective solution, we recommend you to leave it all in the hands of professionals who would create an app, pass all stages of approval on the platform, and assist in monetization.

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