Introducing Video Subscriptions on Gbox
Gbox has just added Subscriptions as an additional video monetization option. Recurring video subscriptions are the lifeblood for many content creators, enabling an ongoing, predictable revenue stream. However, since everybody wants to have subscribers, consumers are increasingly picky about who gets them. As a result, we are announcing this feature along with some basics on how to effectively utilize it.
Tips for Converting Subscribers
To effectively convert your viewers to subscribers, consider what your viewers will want in exchange for signing up for an ongoing service. Here are some things they will consider:
- Do you have enough video content available (that is easily discoverable) to make a subscription more appealing than a single asset purchase?
- Is there a segment of your audience that comes back on a regular basis hungry for more of your content?
- Do you have a history of adding video content on an ongoing basis (creating ongoing value)? Your subscribers must justify accepting a payment that will automatically recur, and providing additional content on an ongoing basis achieves this.
If you can provide all these things for your audience, congratulations! You have awesome content that users love to watch, and getting subscribers should be in your near future. The next objective is to gradually introduce the user to an idea of purchasing a subscription. Here are some of the ideas you may consider:
- Offering some content with open access, so that your audience can get a good taste of your content unfettered with paywalls (Previews, subscription highlights, free access to the first few episodes in a series, etc.).
- Offering some of your content using the “Tweet to Unlock” feature. This would allow you to identify your active promoters, market your content, and grow your audience.
- Setting individual video prices that create incentive to purchase a subscription over single videos (volume discounts).
- Offering a free-trial period for the subscription. This should have a duration long enough to get a good taste of the subscription value, but short enough not to allow them full consumption of the available videos during the trial period.
How to Create Subscription Offers
Any video can be part of a Subscription. You can create your first subscription in the Video Wizard, right after the step of establishing the individual pricing of a video. It is also possible to assign an existing video to a subscription if you edit a video.
You can add or edit the Subscription details at any time from the Videos tab, by selecting the Subscription tab on the upper right. Note that you can only add subscription offers from this area – defining a video as part of a Subscription must be done within the video-specific details area.
To create a new Subscription, click on ‘Add New Subscription’ and fill in requested details such as title and description of your subscription. This information will be presented to the user when they try to sign up for your subscription.
You can enter the following information for your Subscription:
Title: Give your Subscription a name. A descriptive title is important to set the right expectations for your audience.
Description: Use the description to tell more about the content included in this subscription.
Upload a Thumbnail: The thumbnail is the visual representation for your Subscription that the user will see when viewing the offer on top of the video player.
Freebies: This is a subtle, but a very powerful feature. This allows the Subscription to become available as a free perk only – if the viewer purchases another video/videos of your choosing. This means nobody will be able to purchase this subscription except through the purchase of another video or subscription. Use this to offer special subscription to entice the purchase of a single asset (e.g. buy this video for $4.99, get a free 7-day subscription to these other videos). This allows powerful combinations, such as “Tweet to unlock this video and you will get 7 day free trial to this video library!”. If you would like to know more about this feature, we would be delighted to help you with some ideas! Please get in touch with us.
Price and Currency: Set the price you want to charge for the Subscription, on a per-period basis. Monthly terms are most common.
Duration: Set the amount of time your audience will be able to have access to your videos.
Recurring is one of our new features we are rolling out for Subscriptions. If “recurring” is enabled, subscription will automatically renew at the end of the period. The viewer will be automatically charged and access to this subscription will be renewed.
Additionally, we have added the feature of a Free trial period, which is only available for recurring subscriptions.
Free trial period: Will give the viewer free access to your Subscription for 1-7 days (you choose the duration). To gain access, the viewer’s credit card information will be required. But user will not be charged unless they fail to cancel the subscription prior to the end of the trial period.
If Recurring is OFF, the Subscription will end when the duration is expired (does not automatically renew). Once subscription expires, the viewer will not be charged and will no longer have access to this subscription. This is the equivalent to a Season Pass:
Q: Can I publish a video that is available as a part of a Subscription, but unavailable for individual purchase?
A: Currently, we do not allow selling a video as only part of a subscription – it must also be offered with an individual price as well. If the video is individually priced in a way that does not present a paywall (e.g. Open Access, Ad Supported), the users will not see the Subscription offer when viewing that particular video. However, if you believe this feature is important to you, please let us know! We are always interested in hearing from our customers and would be able to help you find a custom solution specific for your needs.
Q: What happened to Season Passes?
Season Passes are now just another type of subscription. All existing Season Passes can be found in the Subscription section, where they now are a subscription type set to not automatically renew.