Subscriptions: Rethinking Monetization
Published on Apr 18 of 2017 by Warren Shaeffer
This week, Vidme took a big step forward in solving these problems by launching paid subscriptions. Paid subscriptions on Vidme allow fans to directly support the creators they love, and we’re optimistic that a fan-supported revenue stream can breathe new life into the independent spirit of online videos and help empower the next generation of digital storytellers.
A couple of weeks ago Vidme published a blog post highlighting the problems with an ad-supported revenue model for video creators.
1. most ads suck
2. most creators don’t make much money from ads
3. quantity of views is rewarded over quality.
So this week, Vidme took a big step forward in solving these problems by launching paid subscriptions.
Paid subscriptions on Vidme allow fans to directly support the creators they love, and they seem very optimistic that a fan-supported revenue stream can breathe new life into the independent spirit of online videos and help empower the next generation of digital storytellers.
They are working hard on several improvements, but in the meantime, they wanted to share the FAQ below and encourage you to set up your subscription page and/or support a creator today. They’d also love your feedback and suggestions, you also categories where you can share you suggestions and bugs that you’ve found.
Questions answered by the Official Vidme Team
How do subscriptions on Vidme work?
Simply set the price for how much a monthly subscription costs by accessing the monetization tab in your settings.
Do my followers HAVE to pay to view my videos if I enable subscriptions?
Nope! You decide which videos, if any, are only for paid subscribers. There’s no obligation to make any of your videos exclusive for subscribers.
What are some channels I should subscribe to?
There are tons of talented, independent video creators on Vidme that could benefit from your support. Here are some of the first ones to enable subscriptions on their accounts:
- David Firth
- Ami Yamato
- Drood Films
- Fractoid Films
- Daniel Amann
- Only Level One
- Weirdest News
- Frame by Frame
- Fact File
- The Travelling Clatt
- Maria the German
- Did You Know Gaming?
- And more…
What are some of the improvements in the works?
- Ability to set different tiers of subscriptions with different reward options.
- More automated rewards for your subscribers, including: highlighted comments and badges, subscriber-only video previews, real-time chat room invitations, automated thank you’s in your video descriptions, and many more.
- Automated payout options.
How much does Vidme keep?
Vidme currently keeps a 10% fee to help cover transaction fees and the cost of video hosting.
Does this mean that Vidme will never have ads?
We’re eager to help creators make money and are focusing first on direct fan support as a way to do so. This model has two significant benefits:
- creators are encouraged to make videos for their fans, not advertisers
- fans don’t have to watch brain-numbing ads.
We’re not ruling advertising out as an additional means of monetization for creators, we just don’t think it should be the primary focus right now.
This is cool, can I be part of the Vidme team?
If you’re excited about empowering creativity on the internet and are interested in joining our LA-based team, then please check out our jobs page… we’re growing quickly and are actively hiring for community support and web development.
What are your thoughts on it? Please comment below!