There is no better way to monetize content in the OTT media sphere, than employing a subscription based model. A subscription based model enables customers who buy in to their content, to establish a relationship with you. They choose to be your audience on an ongoing basis, rather than just being listeners or viewers.
This model where customers pay a recurring fee regularly, for the services of the business is called a subscription model, and it is this model where all businesses are heading, to lock in customers. A per Razopay’s report, OTT has already seen about 62% of Indians’ subscriptions to at least three platforms. If you are an OTT service, your business on the internet is easily scalable, as you can reach a much wider audience within as well as outside your own region.
GDPR is the digital privacy legislation agreed upon by the European Parliament and council in April 2016. Accordingly, all companies that engage in digital platforms for providing digital products and services will be obligated to comply with all requirements of the GDPR. It includes how they purchase, protect, use, process, and manage all-important personal data of European citizens at commercial and non-commercial levels. It has been in operation since June 2018.
The Over-The-Top (OTT) media services sphere continues to grow at a rapid rate. Smartphone technology is on the rise, and owning a smartphone has become much more affordable than it once was. Affordable smartphones, and data-laden packages at cheap rates, has led to a larger audience buying into the OTT media services viewing experience.
What do developments in edu-tech mean for quality education across the country? How is the media and publishing industry coming to terms with new realities of digitization and fake news? What does the future hold for the burgeoning OTT platform? Let’s take a quick look at the trends that are impacting the subscription world.
All of a sudden ‘subscription’ seems to be the success mantra! It is occupying centre stage and reportedly growing at 18% CAGR. What explains this boom? Consumer behaviour holds the key. What we buy, where we shop, how we choose and how we pay. Here are 4 interesting trends in consumer behaviour that are fueling the growth of subscription businesses.
What’s common to The Wall Street Journal, reggae music, meditation classes and healthy snacks? For a small recurring fee, you can get access to all of these wherever you are, whenever you want.
Subscription is the new growth mantra. Entertainment, Education, IT Solutions, PayTV and many other industries are reshaping their revenue streams with subscription model. Learn how to quickly and easily create, scale and sustain an ever-changing subscriber base with SURE from Magnaquest.