Netflix has one of the most popular and familiar looks when it comes to selling video content subscriptions and is recognized around the globe.
What if you could do the same with your videos and make money doing it? You could concentrate on making content for your audience and have complete control over monetizing it.
This is not a pipe dream this is reality and by learning how to apply Netflix’s business model you can create revenue around the video content you want to make.
Netflix has created a gigantic company around a very simple business model that you can also replicate yourself.
In this blog I am going to explain how you too can start your own video service like Netflix even if you know nothing about building websites or apps.
What You’ll Learn:
- The 4 components of the Netflix revenue model
- Why their business model works for all video producers
- How to create your own Netflix in just a few simple steps
The Netflix Business Model
Netflix is extremely successful. Their company is worth over 100 billion and they have over 100 million subscribers. They have gradually worked their way into the living rooms of millions around the world making them a part of our every day life…so what is it that makes them so successful?
- Users can easily join via their website
- They get a Free Trial
- They get a flat monthly rate
- They keep paying as long as their satisfied
This has created a dependable income stream for Netflix that they can continue to scale up. It also allow for them to offer these services to their users at low monthly rates. Why? So Netflix can concentrate on growing instead of perusing renewals of customers and their contracts.
All of this combine equals to Netflix a low attrition rate (only about 9% a year cancel) and keeps their customers “addicted” to their platform.
2. Easy Access
Netflix can be accessed by about anyone in the world anytime. This means they don’t have to be connected to cable or satellite services that is only specific to a certain region. You can access them via the internet through their many apps in about any country. Plus their content is all on-demand so you don’t have to wait for a broadcast schedule.
3. Combination of Original Content and Acquired content
- They generate a lot of buzz about their platform from the content they produce which in turn gives them ever increasing subscribers that want to check out their new content. This continuous release of new content is also what keeps their viewers addicted and coming back for more.
4. No Ads
Netflix is completely independent of advertisers which means they don’t depend on advertising dollars to keep them in business. This means advertisers don’t dictate the type of content they produce or promote. This is why many independent content creators on YouTube are failing and struggling.
Why the Netflix style Business Model is Fantastic For All Video Producers:
Because their model can be easily duplicated in any niche or industry. You can use their model to enjoy a profitable business model year in and year out.
So now the next step how do you get your own Netflix style site? And better yet how do you manage the content and the subscriptions?
Here are a few easy steps:
- You need to have a subscription to our “Channel Manager”. Our Channel manager allows you to create VOD categories and dynamically name them. You can upload your video content and create a media library. From your media library you can decide all your Video Category names and assign the appropriate videos to each category. You can also create playlists to combine live streaming with VOD. Your Channel Manager subscription will give you everything necessary to manage your Netflix style site.
- Next you need to pick your distribution platforms from inside our Channel Manager. For example how will your customers access your subscriptions site? iPhone or Android mobile TV app, Roku, Apple TV, Smart TV, Website??? We have an array of website templates and connected TV templates to choose that you can use for your subscription service.
- Set your monthly/quarterly/annual rate you want to charge and the bank account you want your funds deposited into …then start uploading your video content!
- Get a Channel Manager Subscriptions
Upload your video content
Make your video categories
Choose your distribution platforms
If your ready to get started on your own Netflix style site then check out our Channel Manager by clicking here.TvStartup