Setting the right price can feel difficult. That's why we've gone through tons of reports and surveys and analyzed hundreds of thousands of transactions to guide you. In this guide, we give you three different pricing strategies. Join us and we'll straighten out any question marks together!
1. Start from what most customers are willing to spend
What are your customers willing to pay for streaming video content? There is actually extensive research done on the subject. A study by CivicScience from 2022 shows that 66% of internet users over the age of 18 are prepared to pay up to 10 EUR for access to video content. Only 4% stated that they were prepared to pay over 25 EUR. If you want to get many buyers, a price of up to 10 EUR is therefore recommended. If you want to charge more than 25 EUR for your video content, you must have a very strong purchasing target group, or a very unique and attractive content. The average price for a video on VOYD.tv is about 7 EUR.
If you want to get many buyers, a price of up to 10 EUR is therefore recommended. If you want to charge more than 25 EUR for your video content, you must have a very strong purchasing target group, or a very unique and attractive content.
2. Let the customers decide the price themselves
By using the "Pay What You Can" feature on VOYD.tv, you can let customers decide the price themselves, but be careful with your starting price and minimum price. Your minimum price should not be lower than 4 EUR and your starting price should be somewhere between 4 EUR and 10 EUR.
Your minimum price should not be lower than 4 EUR and your starting price should be somewhere between 4 EUR and 10 EUR.
3. Let your costs guide your pricing
By calculating roughly what it costs you to produce a movie, you can work out how many movies you need to sell at a certain price to cover your costs and make a profit. An easy way to get started is to find out the following:
- Approximately how much did your equipment cost to purchase? It can be, for example, a camera, computer, microphone, lighting and software for editing.
- Approximately how many hours do you spend shooting and editing each video?
- How many films do you plan to release per year?
- How many copies of each film do you think you will sell?
Example: Let's say that your equipment costs 3000 EUR to buy and that it will last for two years. You spend an average of 10 hours per film and plan to release one film a month (12 films per year). The cost of your own time is 25 EUR per hour (at a salary of 2500-3000 EUR per month).
If we assume one film per month, we can first divide the cost of the equipment over 24 months (2 years). Then we add your cost for the time you spend (10 hours per film). Then we find that the cost of each film is 375 EUR (125 for 1/24 of the equipment cost + EUR 250 (250 * 10 hours) for your time).
If you price your film 6 EUR to the customer, you need to sell about 100 films to get back the cost you paid (after deduction of VAT and fees). If you price your film at 10 EUR, you need to sell about 60 films to recoup the cost you spent. Anything above that is pure profit! 🥳
Over 90% of customers want to pay for video content
The willingness to pay for online video content is increasing sharply, partly because of the pandemic, but also because Generation-Z (our first fully connected generation, i.e. people born between 1997 and 2009) is getting older. For them, it is completely natural to be able to buy access to anything online. A study by VICE Media shows that 90% of Generation-Z are willing to pay for video content. So it really is time to start getting paid for your video content. If you want to know how to get started with VOYD.tv for free, you can read our guide "Complete guide - 1: Create your VOYD channel" or "Complete guide - 2: Post your first video for sale".