Yes it’s true, these companies have a great amount of video content and, not to mention, the types of contents they have are very popular around the world. However, this doesn’t mean that a smaller company can’t emerge as a profitable video service. What’s important is that you, as a media creator, define the niche.
For whom are you creating the content? That is a key question. If you’re a content creator you know what you like to do and probably have a good idea of what your target audience is like. Though this is a great starting point, it doesn’t hurt to consider how you can cater not only to your devout followers, but expand your audience by also expanding your content. Is there anything you could add that would spark the interest of a similar audience?
Take crossfitters, for example. The widely known fitness methodology is composed essentially of functional movements mixed with olympic weightlifting and gymnastics. That means that anyone belonging to the realm of crossfit practitioners will (very likely) be interested in all these three sub-genres, so to speak.
But perhaps you’ve chosen a different path and you’re looking into acquiring content. You have a hunch on what you want but aren’t quite sure about which way to go. Well, nothing like good and old market research, right? How many channels/OTTs are you able to find when looking into a particular niche? What do your potential competitors look like? How do they monetize their services and what is their brand positioning like? Are they on Youtube, Facebook, Instagram or any other social media? Remember that having competitors can be a good indicator of client interest, as well as client acquisition costs. If you choose to start with something completely different and new, a poorly explored niche, that can be great as there’s always perks of being the first to market, as well as challenges such as a potentially longer learning curve. The important thing to remember is: whichever path you choose, you need to have great content, a clear target audience and a solid business strategy.
When defining your niche, you’ll know who your potential users will be, as well as what they are interested in and what they are looking for. Once your niche is defined, building your audience and scoring subscribers will be easier as you will be offering content to those you know that are actually interested. And keep in mind, when you offer videos with value to the right audience, they will be more than willing to pay for that value.
With Nunchee you can upload your videos into our Management Console and start streaming your content across the globe. Then you just need to let your potential audience know you’re live and choose a model to monetize your content. Keep your audience interested by uploading new videos. Do all this and you will be on the right path to success.
Our team is here to help you along the way. Start now!