Monetization in Media

Show me the Money

Producing media is fun and all, but what good is it if you produce incredible content and receive no monetization from your efforts? This is a real dilemma facing many media producers, as production can only go from a hobby to a lifestyle if there is income to be had. As an avid media producer, how do you take the step from casual producer to media mogul? I can only share my own thoughts on the topic, so here they are…

Perfect Your Craft

I work primarily with video, and by middle school I thought I was ready to start selling my content – boy, was I wrong. Looking back at the content I produced in middle school, it’s a wonder no one took my camera away and told me to follow a new passion. Nonetheless, it took a few tough rejections to figure out I had a long way to go in order to actually start making money producing videos. Thus, I took several years off to hone my craft. I began working in different production suites with different people, and eventually I got to the point where I could charge for my work. So what happened next?

Determine Value

By the time I was actually acquiring customers, I was selling myself short. I had gotten into the mindset that my work was far from perfect, but to the average consumer it was worth a decent chunk of change. Nonetheless, I set my prices too low in the beginning, with some big projects even being given away for free. I sought some council and was told how I should be charging clients. I figured out how much my time is worth, and now I base my fees on that concept (time is money after all).

Make Connections

My third and final point has to do with actually acquiring customers. Clearly, you will never start with a devoted fanbase. Building a group of religious customers can be tough, but your first step should always be through social media outlets. Always publish your best content to your social media accounts and have them logged on YouTube, Vimeo, or some other hosting service. That way when the right customer comes knocking, you can easily send a link with your content their way and start building a client list.

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