With the growth of OTT, content libraries have become heavier and diverse. Distributors have been wanting to make unique propositions on their platforms either through content or through marketing or through pricing. A rich library across varied content genres has therefore opened new windows in the content monetization ball game.
Muvi offers an incredible end-to-end OTT platform that specializes in creating strategic revenue models. If you are a content aggregator and looking to start an online streaming service, you should definitely consider Muvi.
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Muvi supports multiple subscription plans to choose from, to optimize your pricing strategy. A recent addition to Muvi’s SVOD revenue model is the Subscription Bundle. This is a content specific subscription plan that allows you to have more control on how you can price your subscriptions on a monthly or yearly basis.
With this plan, you can essentially group pieces of content that belong to specific categories such as action movies, comedy, e-learning series, TV series, superhero movies (Marvel, DC), banner specific content (Disney), etc. This plan allows you the option to offer category specific add-on packs in addition to a base pack.
Muvi’s intuitive CMS lets you add subscription bundles either in addition to your monthly base plan or separately. Let’s take a look and how you could use this powerful feature.
1) Integrate payment gateway and add a base subscription plan
The first step is to get into Muvi’s CMS and integrate your default payment gateway with the platform.
Once you log in with your default payment gateway, you can add subscription plans found in the “Monetization” tab. You can have subscription plans such as Gold, Premium, etc., enter a short description of the plan, set its validity (monthly, quarterly, semi-annual or yearly), set the plan fee, add multiple currencies, and also add a specific price for a specific country.
Additionally, you can select the checkbox for “Free Trial Period” and offer your subscribers a suitable evaluation period. This way you can add a base subscription plan.
2) Add subscription bundle where specific group of content can be offered for a subscription fee on a monthly, quarterly or yearly basis.
Subscription bundle is different from the normal one in a way that it lets users watch specific content for a certain period at a lower price. The subscription bundle will typically offer limited content from a single or related category. However, the normal subscription plan will typically include a wide variety of generic content offered at a standard subscription fee.
For instance if you have a large catalogue of comedy movies then you can create a subscription plan such as “Comedy Plus”. Similarly you could create a plan for movies starring a particular actor or create a bundle with a TV series.
Make sure you check the “Specific Content” box while adding a subscription plan for a subscription bundle.
Check out the Muvi Help page to know more about how you can add a Limited Content Subscription Plan.
Once you have added your new Subscription Plan/Limited Content Subscription Plan, you can view its status as shown below:
Once you configure subscription plans, they will be displayed on your website. So your subscribers can select their preferred plans. Plan renewal will be done independently.
How it appears to your subscribers!
Subscribers can view their Subscription Plans under “My Plans”
So you can add limited content subscription plans in addition to the base subscription which lets you optimize your cash flow by having an additional revenue source. Muvi now makes it easier than ever to add and manage your own subscription plans.
This will allow end users to customize the plans that they would like to subscribe to, at a lower cost.
It gives you more control on your content distribution and monetization by not only optimizing your revenue model but also by creating a viewership model. Response to your add on packs (subscription bundles) could give you insights into your user profile, and let you shape your upcoming content acquisition plans.
Want to launch your streaming service instantly? Muvi handles everything end-to-end from IT Infrastructure to front end interfaces like Website and Apps for Mobile & TV, so that businesses focus on creating great content and not worry about IT or Technical details.