The trends of how people are watching various content are changing very fast. The best example of that is the fact that most people these days prefer using the internet over TV when it comes to watching TV shows and movies. Moreover, the number of users on the internet is increasing rapidly. Therefore, creating a channel on an existing platform, or starting your own streaming website can be an excellent business idea.
If you want to learn more about starting a streaming platform, check out Setplex. Some of the most popular options these days are YouTube, Twitch, Netflix, HBO GO, and more. Some of these platforms allows you to start a channel, while there is always an option to start your own platform. Here are the main reasons why it can be a highly profitable business.
High Flexibility
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While there are many popular channels and platforms where you can find all types of content, there are numerous users who are researching different types of content all the time, which means that high competition is not always an issue. The key is to be original and to provide high quality.
Therefore, you can choose from a lot of categories when it comes to finding the right type of content. It can be entertaining, informational, educational, related to sports, music, movies, and much more.
You Can Reach the Worldwide Audience
Another reason why this type of business is highly scalable is related to the fact that you can target people from all over the world, which means billions of them. It is already a trend, but we can expect that even more people will start looking for online service when they are interested in enjoying their free time, checking on the news, listening to music, or educate.
Simplicity
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Starting a channel or a new platform have never been easier. When it comes to opening a channel on some popular platform like YouTube, all you need is a proper equipment like a camera and microphone. Also, we have to mention that you will need good editing skills to ensure that your videos have high quality. This is also simple these days with advanced programs. However, they require some skills and experience. Still, even if you don’t have one, you can always hire an expert in this area to edit your videos.
On the other side, if you decide to start your own platform, the start will be more complex since you will need a good marketing strategy. You can use various options for that, like paid ads, social media, and more. Also, keep in mind that high-quality of content is the key since that will lead people into sharing your content and significantly increase the popularity over time.
It Can Be Highly Profitable
There are different models that you can use to make a profit from your streaming channel. When it comes to existing platforms, the key is to follow the rules and have a lot of views and followers on each video. You can integrate ads on your videos as well to improve the monetization. Another option is to include paid content in your videos. It is quite common these days that streamers will use a couple of minutes of their videos to mention the sponsors.
Keep in mind that most of businesses these days consider this model of promotion as highly efficient, which means that finding the sponsor of your videos won’t be difficult at all. However, the amount of money that you can earn depends on your popularity.
A New Form of TV
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We are reaching the point where streams are becoming more popular than standard TV channels. The best example of that is related to the number of users on Netflix, Disney Plus, HBO GO, and many other platforms where people have to subscribe and pay to watch the content. These platforms managed to attract so many people by providing exclusive content that is available only on their channels.
How To Start?
It can be a tricky question since it depends on your goals and whether you want to create a channel on an existing platform or create a new one. When it comes to existing platforms, you can choose some of the most popular options like Instagram, Facebook, Livestream, Clubhouse, or Periscope. The point is to become attractive to people who will start subscribing to your channel, and share your content, and that will lead to more views, and an improved chance to attract new sponsors and ask for money for paid promotions that you can integrate into your streams.
On the other hand, creating your platform is more complex and expensive. The first step is to choose the niche or industry where you will be active. Some of the most popular are education, health, and entertainment. Another step is to research the market and choose the target audience. After that, you will have to deal with technical parts of the project, such as creating the platform, implementing various features, allowing it to be available online, dealing with various regulations, and more.
The average price of the typical streaming platform is around $30k, and that included a mobile app and platform where people can register, the ability to add different categories and allow people to research the content, to implement settings for different devices like phones, smart TVs, cast devices, and more.
The Bottom Line
The crucial part is to create a project that will be attractive for users for a longer time and motivate them to subscribe to your channel or pay for a membership on your platform. There is a huge potential for making a profit due to different models of monetization, such as the paid subscription, sponsorships, and more.
The most important part is that companies are highly interested in using streaming services for their promotions because that is one of the best ways to reach a lot of potential customers. According to the statistics, we can expect even more channels and streams in the future, which means that now is the perfect time to start your business in this area.
