other Approaches

Monetizing'live-streaming'

The world is already consuming more streaming television. Today there are about 10 ways and means monetized products, content or services.

Eduardo Arango *

Auxiliooo! we have a serious problem: We need monetizing live events and online services. What can we do? Please help us. This is a new question for those who are linked to the field of electronic means of payment or monetization. The reason for this question is the new mega trend internet: Live (Live). More on this below.

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The rapid response of many is that there are no means or ways widely known for this purpose; a response that leaves obviously disappointed thousands of entities and people who are already doing live-streaming around the world but have not yet managed efficiently monetize.

Nobody knows all about monetizing live events and online services (online); in this we include ourselves. However, here we try to help those who have this problem.

The following five issues will help us understand context of electronic monetization:

The first thing to understand is that there are many differences between monetizing online: products, content and online services for a fixed price; monetizing online services versus consumption variable; versus monetizing events / services live online.

The second thing to understand is that there are now about 10 ways and means to monetize the products or services identified above:

1. Pre / Post payments (collections) of products or services. This can already be done via: PayPal, Visa, Mastercard, Amex, Stripe, Google Wallet, I-Pay, etc.
2. Recaudo by Clicks / Hits. This can be done via: Google Adsense, Chitika, Kadabra, etc.
3. Collection by selling advertising space. This can be done via: brands / advertisers entities in each web or app.
4. Recaudo sale of big-data.
5. Recaudo by donations.
6. Barter / Exchange User to User (Peer to Peer).
7. Collection of Ownership.
8. Lease collection.
9. Recaudo selling time for consumer specific services. This is what they do: Skype, ooVoo, Viber, etc.
10. Recaudo sale of real-time consumption of any event live online at any web / app.

The third thing we must understand is the mega trend internet: LIVE-streaming. Among many others, these are three facts that give reason to this statement:

1. Among other technology companies, Ericsson-Lab recently published a market study on maximum 10 consumer trends. The study was conducted about 85 million people around the world, and concluded, inter alia:

The world is already consuming more than'streaming' television; and it ensures that the 2015 year will be historic for'streaming', with projections of exponential growth.

2. In the past Tomorrow Land 2014 (dual electronic music concert, classroom and online simultaneously), was attended by about 3.7 million people to live-estreaming version.

3. This is a typical conversation with young people born from 1985:

- You. Ask any young man: "Do you see cable TV every day?"

- Young responds: NOOO, there is never anything to watch on TV!

- You. But how so there is never anything to see? if more than 100 TV channels in their cable service.
    
- Young responds: Never mind, never show on TV what really interests me. And besides, I like to see what I like, live, online. It is about music, sports, video games, lectures, educational classes, entertainment, health, teleworking, etc.


The fourth issue that we must understand, is that young people are consuming live-streaming, with four practices in usability:

1. Zapping: This is change in a few minutes: a live online event, another, another and another.
2. Interactivity: This is interaction between the different participants live online events.
3. Depth of consumption: This is to consume events on issues that really interest us, in the website / app for each author or primary issuer of live content (read: no / few intermediaries).
4. No subscriptions: This means that young people are unwilling to make recurring payments for subscriptions.

The fifth and final issue that we must understand is that: On one side: the buyer is not willing to pre pay the 100% of the live event the seller, that this will deliver it later, because we do not know if the event will Regular good or bad, or if you consume completely.

And on the other side: the seller is not willing to give the 100% of its live event consumer, for this would pay later, because this can make many pitfalls to avoid paying the event after eating it. This we understand as 'lateness between supply and demand'.

With this, we fully understand the problem of monetization of live events online.

And then, how can we monetize live-streaming?
In our opinion, the best way to monetize live-streaming, is via the user or sponsors, pay or invest for what they actually consume customers.

For our part, now we only know a new means of monetization that achieves fully solve the difficulties identified back, to receive payments, pay or sponsor online events live, is called: PayLive (.com)

This system allows monetizing any event live online at any website or application, allowing customers or sponsors, paying only the actual time of consumption.

PayLive patented his system and method of monetization, including payments switch (switch), with which, for example:
If the event is monetized by minutes (can be for hours / days / months / years), PayLive recurrently monetized every minute; so, both the seller and the buyer resolve their conflict.
The seller delivers to the buyer a minute of your live event, and the buyer pays the seller, the same minute early.
If the buyer wants to continue consuming the event just keeps on for all the time you want to switch, but if you want or need to stop using the live event, simply turn off the switch, and voila, stop paying for the actual time spent , anytime.
In any case, many believe that we should forget about monetizing events online live via: pre / post payments, paid subscriptions because they generate huge barriers of payment for customers, and we also forget about monetizing via clicks or hits, because the income received tend to very, very low.

Innovation is the key!

The mission of all sellers of live online events, is implementing or developing means, systems or methods that allow us to monetize, based on what customers actually consume.

Eduardo Arango is founder of PayLive. You can contact through edoarango@hotmail.com

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