As the nation’s population becomes more and more accustomed to using the Internet, the online learning industry will reach new heights. India’s online education market, which stood at Rs 39 billion in 2018, could reach Rs 360.3 billion by 2024, with a sustained CAGR of 43.85%, according to a report by Business Wire.
E-learning brought elements like flexibility, convenience, and efficiency, which is why it became popular so quickly. These days, if you have in-depth knowledge of a specific subject and basic technical skills, you can make a career as a student online by monetizing your content. There are so many ways to present your content online that you can enrich your students’ learning experience simply by using the resources available to you. From PowerPoint presentations to video lectures and audio recordings to visual illustrations, there are many ways to explain a concept, and you can choose one or all, depending on the needs of your students. Let’s now talk about the different content monetization models.
1. Video on demand with advertising (AVOD)
This is one of the most basic monetization models. Under this model, your videos are technically free to your viewers, but they pay you indirectly by watching ads. The more people who see your ad, the higher your income.
However, this model has a fundamental flaw: it does not take ad blockers into account. In recent years, ad blockers have become quite popular with people and can seriously affect your advertising revenue. This is why you should use AVOD in conjunction with other models.
2. Monetization of subscriptions
The subscription-based business model is one of the content monetization models. If your viewers love your content, they can subscribe to your website or information portal by paying a monthly or annual subscription fee. This will give them access to your content library so they can explore whatever they want in a structured and organized way. Since you can count on a certain number of subscribers, you can predict your monthly income as a content creator to some extent. This model also encourages creators to release better content to retain existing subscribers and attract new ones. Therefore, a win-win situation!
3. PPV (Pay Per Event)
The pay-per-view model allows users to access certain content (video, audio, ppt, pdf, etc.) by paying a one-time fee. This model is transactional and works well for users who want to use the author’s services inexpensively. As a creator, you may be charged in different ways, depending on the type of product or service you use and the time you spend using it.
4. Premium Membership
Premium membership gives users special privileges, such as unlimited access to exclusive content and deep discounts, as well as some VIP privileges. Premium memberships can generally be used for a specific period of time (for example, a month) by paying a one-time fee. The idea is to engage your users with content that will prompt them to renew their subscription and promote your product to other potential viewers, as well as word of mouth.
5. Affiliate Marketing
This is a monetization model that you can implement after your content platform starts receiving regular traffic. Typically, business organizations associated with your area of expertise will contact you and ask you to host a sponsored segment during their video conference. You should also include a link to redirect viewers to the affiliate website. While you will not receive money directly from users, the organization you partner with will sponsor it.
