3 Ways to Generate More Revenue Using SVOD Model

Customers love this type of system as they have to pay a small monthly fee and they can only subscribe if they want. Because of this, the SVOD segment is expected to grow to $71.237 million this year. Revenue is also expected to increase at a CAGR of 11.04% by 2025.

While this monetization strategy can help you attract new customers, it can be detrimental to you as most customers prefer a monthly fee to a yearly one. This means they can choose not to use your OTT platform for the next month. In such a situation, how can you increase your income?

Here are some powerful strategies you can use to increase your SVOD income.

SVOD is the monetization method of choice for the most popular OTT platforms like Netflix, Amazon Prime Video, and others. So if you have an OTT platform with a SVOD revenue model, this is a way to grow your revenue even with your existing customer base.

One of the easiest ways to increase your SVOD earnings is to encourage your customers to opt for your annual plans instead of monthly plans.

They can also offer 3-month and 6-month subscription plans. The idea here is to ensure that customers stay with your OTT platform longer. This retention of customers can help reduce your customer acquisition costs because you wouldn’t. You have to look for new customers every month.

You also get the full subscription amount at once. This helps you quickly scale up your marketing campaigns and get more customers.

But why should clients opt for a long-term plan?

1.1 Quite simple: Discounts

You can offer them discounts for any long-term subscription package. They would be more inclined to opt for these packages. This would be especially the case if the discount is quite high. This is exactly the strategy Disney+ Hotstar is implementing in India. They offer a discount of about 58% on their annual plan over the monthly plan. This is one of the reasons why it accounts for almost 80% of SVOD revenue in India with Netflix, even though they only have 50% of the subscribers.

In the end, it’s the content that you simply offer that pulls folks to your OTT platform. To extend your SVOD revenue, you ought to establish content that has the potential to go viral.

Such content will assist you quickly rescaling your client base as people would subscribe to your OTT platform for that terrible content.

One of the opposite ways through which you’ll grow your SVOD revenues is by giving different subscription packages. For instance, some potential customers may notice your basic package is pretty expensive so urge them to end up subscribing to your OTT platform, so you can develop cheaper packages.

Netflix, for instance, offered 3 arrangements in India, beginning at INR 499/month, which was quite steep compared to other OTT platforms. to spice up their subscriber base, they came out with a mobile-only plan that prices simply INR 199/month. This has helped them grow their market share within the country.

SVOD could be a promising methodology for generating revenue for your OTT platform. to create the foremost of it, you would like to make a reliable OTT platform and place up nice content. Need to begin your OTT platform?

Related posts:

Hyundai has been in awe of late, sales continue to skyrocket, and much is expected of the new Santa Cruz pickup, which will be on sale shortly. Another Saint that has been benefited by the increase…