If you’ve been researching CDNs, ways to stream to large audiences and tools to minimise latency, you must get acquainted with a novel technology that may be what you’re looking for. Presenting Streamroot, an exclusive CDN service that has made a name for itself in the technology space in recent years.
What is Streamroot?
Founded in France in 2013, Streamroot is a technology company that provides hybrid P2P/HTTP Content Delivery Network (CDN) video streaming solutions for live streaming and Video on Demand (VOD). With its patented suite of products, Streamroot presents a better broadcasting experience to users by minimising buffering and server breakdowns. It also curtails CDN costs, usually fuelled by extreme viewership and spikes in bitrates.
Why is Streamroot’s Technology Special?
Streamroot’s technology rests on a hybrid mesh framework that breaks a video down, and cleverly retrieves each piece from a different source, such as the CDN network itself, or from another viewer streaming the same content.
Load distribution ensures that the content load is divided, without pressuring an individual source that could lead to a potential outage. In turn, a broadcaster’s costs drop and the quality of content increases.
Compatibility with Other Frameworks:
What is a CDN?
A CDN is a tool used to transport content from a broadcaster to a plethora of viewers at lightning-fast speeds and reduced costs. CDNs are device-agnostic, ensuring that content is carried through to a variety of end points, such as mobile devices, set-top boxes, web browsers and gaming consoles. CDNs, in the context of video, can be broadly classified into two categories: On-Demand Video CDNs and Live Video CDNs.
On-Demand Video CDNs
On-Demand Video CDNs employ a solution called HTTP streaming, a technology that is tightly tethered to Adaptive Bitrate (ABR) encoding and delivery. HTTP streaming is powered by HTTP servers and delivers video content in much the same way that it delivers images and text. The route caches content and throttles on-demand video clip delivery, to ensure uniform speeds while streaming concurrent pieces of content for a unique content file. The ABR that HTTP streaming encompasses, translates a single piece of content into many tiny segments, each measuring about 2 to 10 seconds. Then, the ABR creates multiple streams, each a different bitrate, and feeds them into a user’s system at an optimally determined speed. Streamroot’s on-demand framework uses this CDN.
Live Video CDNs
A CDN can’t cache a live video. That’s why the basic CDN framework used for on-demand video must be altered by augmenting the bandwidth in the pipes between a broadcaster and viewers, or transmitting content through low-bandwidth pipes using repeaters and reflectors. Live Video CDNs can be exorbitantly priced, with every incremental user adding to the total cost of the broadcast. Streamroot has successfully managed to introduce live streaming CDNs at a reasonable cost for business owners.
What Makes Streamroot’s CDNs Unique?
Wondering how Streamroot trumps other CDNs out there? Read on:
Streamroot enables content broadcasters to deliver content to fluctuating audiences, across the world. We told you earlier about how Streamroot employs mesh networks. These allow Streamroot’s HTML5 video streaming platform to inflate its server capacity as an audience scales. The company’s CDN framework dynamically multi-sources content, promising reduced buffering and increased bitrates. It does this by marrying a structured, centralised CDN network with a robust mesh framework, constantly innovating in the peer-based technology space.
Streamroot’s hybrid variant uses centralised and decentralised technologies to optimise video delivery, whether live or on-demand. In a single CDN, Streamroot has your live streaming and on-demand streaming needs taken care of.
How Much Does Streamroot Charge?
Streamroot operates on a flat-fee model that offers customers flexibility and reduces costs. Conventional CDN pricing is known to charge users higher rates as bitrates increase. Streamroot’s pricing model is static, charging a single price to users regardless of bitrate variations. This allows broadcasters to grow profitably and to manage margins well.
If you intend on introducing live or on-demand video streaming to an existing or new business, it’s worthwhile investing in a robust CDN to ensure that streams are run seamlessly. Evaluate attributes such as audience size, scalability and worldwide coverage. When you’ve assessed these factors, you’ll be better equipped to identify the perfect CDN model for your platform. It’s all in the finer details, for you and your viewers.
Some people say that internet is a place which has given birth to many weird things. In many aspects, it is true. More often than not, we fail to realize that internet is also a place to make tons of money. And people who know how to make BIG money are already busy meeting their monthly financial goals.
When we talk about money through online platforms the first thing that comes to your mind is a blog, right? However, there is something even better which people are using these days and that is vlog or video streaming app.
Anyone would love to watch a video any given day than sit and read an entire draft or thoughts of another person. This is why all sorts of videos go viral and the creator of the videos gets all the cash. For instance, the Hindi version of the popular song ‘Cheap Thrills’ got an insane number of views. Just like this, a Korean teenager is making money by just sitting in front of his TV and eating. People all over Korea tune in daily to watch him eat to its heart content
Reasons for Broadcasting Live Videos:
We now know that streaming live video does help in making tremendous amount of money. It does not take a lot of talent to create a specific type of video and this is why many people prefer sitting on their couches in the living room to make money. Moreover, money is being earned legally.
Some people do it for their own personal satisfaction. Others do it to either voice their opinions on a matter or to express their creativity. There are two ways to start making money online with a live video broadcast.
You create your own video streaming app/website.
You can simply start posting videos or stream live videos in your leisure time on a well-established website.
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Many youngsters are sticking with the second option because they do not have to go in the details of creating an online video streaming website. One such popular website where you can simply stream live videos and start making money with a few clicks is YouNow.
It was established in 2001 and has a huge traffic base. Approximately, 75% of the traffic of the website is between the ages of 14-24 and 56% of them are female. Every day, around 150,000 videos go live and people tune in from across the globe to watch them.
Along with the people who are streaming the live videos, the company also gets its share.
Apart from this, there are other websites as well which are monetizing the power of live video streaming. These include Fanify and AfreecaTV. All of them have their own niche of visitors that put any competition amongst the sites at rest.
Making Money in Real-time with Your Own Website:
However, many people want to start their own live streaming video website so as to leverage all the money they make. Also, a company might want to create its own website to broadcast videos of how things are created before they are dispatched or to simply share some information. Webinars and informative live video streaming apps are also becoming popular these days. When it comes to certain topics, videos or streaming a live video is much better than writing long pages explaining its nuances.
This is why people are either looking for podcasts or live videos to learn things. The added advantage of a live video is that it can be used to ask questions on the spot through the comments section.
If you have already thought about creating a live video streaming website, then you can either hire developers for the task or get started on your own. There are various turnkey software that shall help you create a live streaming video website. One such robust turnkey software that can help you in putting together a good live video streaming website is Streamhash.
Monetizing your Live Videos:
Coming to the most important question! You have created your own website to stream live videos but how to you monetize it effectively? There are several ways to do it, some direct and others indirect. Some common ways are:
Pay per view live broadcasting
Asking your viewers to subscribe to your website to view the videos
Get in touch with sponsors who like your video content.
Use crowdfunding to ask people to help create content for your website.
Let us explore each of the above-mentioned ways in detail so that you know where you will be getting your money from in case you start streaming live videos.
Pay per view and subscription: This is the most common and the simplest way to make money. You should simply ask your viewers to pay for what they are watching. Few of the live video streaming websites have a paywall option. A paywall is the arrangement or process in which a viewer is given various options for paying for accessing your live broadcasts or even uploaded videos. While only some of the live video streaming website work on Pay per view basis, there are others like Netflix and Amazon which have opted for subscription basis. They are even giving away first month of free viewing in order to attract more customers. However, you will have to maintain a regular base of viewers if you want to monetize your live streaming videos in this manner.When it comes to faster returns on your videos, these two methods should be on your top priority list.
Advertising and Sponsorship: These are the methods which have existed long before the internet was born. Advertisements are a great way to earn money. When you have a strong base of viewers for every single video of yours, various companies shall pay you to display their ad on your website. You can either play it before a video or below your live broadcast. In any way, you will be monetizing your live streaming videos in an efficient manner.
Another way to earn money through your live broadcasts is to get a sponsor who will back up all your videos. Sponsorship is an indirect way of advertising as you will be endorsing the company which will back up your videos.
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Getting traffic for your website: Once you have created your live video streaming app or website, the next important thing is viewers. You won’t be able to make money unless people are watching what you are broadcasting and in order to achieve millions of viewers for a single live video, you will have to get traffic to your website. Now, if you were just uploading or streaming videos on a well-established website like AfreecaTV, you wouldn’t have to worry about the traffic. But, when you make your own website, you will have to certainly put in extra efforts to get people tune in your website.
In order to do this, you can use the given tricks of the book like a search engine optimization or ask a well-established vlogger to endorse or advertise you.
Crowdfunding: This is a recent way to monetize your live videos. Unlike all the other ways mentioned above, crowdfunding is very different. If you are working on a project and are in need of a funding to take it further, then you can stream videos regarding it and ask the viewers to make donations. Websites like Kickstarter, Indiegogo and Patreon are few of the websites which enable this type of method so that their users can earn money.
This method is not limited to asking for donations only. You can even reward the people who donate to your live streaming videos by offering products such as already uploaded video for download or accessories or anything that comes to your mind. This way, you can increase the number of donations you get for your broadcasting efforts.
When it comes to making money online, the ideas are available in plenty. People who really want to make money will get creative and that is what matters. If you have an idea that will either make people laugh or educate them in any manner, then there is no better medium than a live video streaming app or website to put it up.
As mentioned above, with websites offering video scripts to create your own live video streaming website, you just have to work on the idea and put in few hours to get your website ready. Initially, it will take time to generate money but gradually, when you have put enough videos and advertised your website properly, money will start flowing in.
Streamhash is the place where you need to start your website and it gives you all the right tools, right from distinct themes to easy interface. It is also affordable and won’t take much of your time. So, if you have wanted to work on a video streaming website, the time to start is NOW.
If you have any concerns or doubts, feel free to drop a line or two in the comments section. I shall reply in a day or two. By the way, Streamhash has got a highly supportive staff. Do not hesitate to accost them for assistance. My best wishes are with your live streaming venture. Cheers!
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Video streaming applications have become permanent fixtures in a rapidly growing number of devices across the world. What started off as an add-on service to DVD and digital download packages has now flourished into a multimillion dollar industry and a favourite pastime amongst millennials, courtesy lightning-fast internet connections and a burgeoning number of mobile devices world over.
The success of video streaming services all boils down to differentiation and first-mover advantage. Presenting to you, the top video streaming sites of 2017.
You’re probably no stranger to Netflix. Netflix is one of the best video streaming sites, emblazoned on the face of the video streaming industry. With a generously stocked library that is continually pumped with new content, its offerings are novel. Plus, Netflix has always stayed ahead of the game by introducing original programmes such as House of Cards and Luke Cage.
So, what is the hype around Netflix?
Well, other than the massive selection of titles that it features, Netflix allows varying degrees of concurrent streaming through differentiated packages. Its $7.99/month plan, for instance covers one Standard-Definition (SD) stream. Move to High-Definition (HD), and the pricing changes. For simultaneous usage on two different devices on the same account, Netflix offers a package of $9.99 for new members. Talk about 4 concurrent streams from the same account, and the price moves up a notch to $11.99. Whichever way you look at it, Netflix offers value for money! Netflix now also allows offline viewing, and offers more fluidity across devices than any other service provider in the market. So, if you have a flight to catch, or a car journey with sketchy signal, download content beforehand and enjoy it on the go!
Through Netflix’s localised content strategy, it has also clinched partnerships in new world markets to deliver regional content. In India, for example, it has inked deals with telecom operators such as Airtel, Vodafone and Videocon to deliver content Over the Top (OTT).
Of course, as newer technologies take root across the world, video streaming is becoming more fluid than ever before. Streamhash, a turnkey technology that underpins many successful video streaming startups today, provides a seamless device-agnostic user experience that can be customised to embrace a suite of devices.
Netflix has pioneered a revenue model that has inspired many businesses to follow suit. Here are some reasons it stands out:
Subscription Fee: Netflix’s move to bring in a subscription fee was considered risky, because it had never been attempted before. Yet, the standard price offering clicked, and many Video on Demand (VOD) services have adopted the same model.
DVD Rentals: Surprised? Don’t be. Few people even know that Netflix offers DVD rentals as a service. Most of us associate Netflix with pure video streaming. DVD rentals contribute a measly percentage to the overall Netflix revenue, though the service was popular when it was launched. However, with technology evolution and internet ubiquity, Netflix’s video streaming service has become a massive engine of growth.
Netflix’s approach to marketing has been heavily focused on consumer insights:
Personalised Dashboard: What you see on your Netflix home screen is probably very different from what your neighbour sees. Netflix’s brilliant algorithms customise recommendations by curating movies and shows that you’re likely to enjoy based on your past preferences. It is an excellent way to micro-target customers and build user engagement.
Brand Identity: Netflix has spread like wildfire thanks to social media. Its digital presence and subtle campaigns have worked magic for the brand, especially its youthful tagline, #NetflixAndChill. It hasn’t spent much on Above the Line media, like traditional advertising.
Listen to Users: We already know about Netflix’s sophisticated data mining approach. But the company uses data trends to assess user behaviour and tweak its offerings. A market insight uncovered by Netflix revealed that users enjoyed binge-watching shows at one go, and that the experience proved more enjoyable this way. Thus, Netflix started releasing all the episodes of a given season at once, to boost user contentment.
Amazon Video is always attempting to one-up Netflix through pricing or promotion. On the pricing front, its $10.99/month includes a suite of benefits, like Prime’s free shipping, Amazon Photos and the Kindle Lending Library.
Amazon Video offers an annual package at $99. Its streaming service contains about 40,000 titles, but very few of those qualify for Prime Streaming. The ones that don’t, need to be bought, regardless of Prime membership. Like Netflix, Amazon Video also offers provides offline downloads. The only real challenge with the service is that it isn’t as device-agnostic as Netflix, and doesn’t work on Google’s Chromecast. The service also offers concurrent viewing from two streams.
Annual Subscription Fee: Ditto, Netflix. This plan offers users the option to pay upfront for a full year, with a built-in pricing benefit.
Standalone Monthly Subscription: Here, a user may can subscribe to Prime whenever, wherever. There’s no long-term obligation.
Streaming Partner Program: Where Amazon Video really stands apart, is with its Streaming Partners Program. With this OTT streaming subscription programme, Amazon has collaborated with twenty broadcast companies, such as Showtime, Starz and CBS. The service allows you to add specific networks to your account at a discounted price.
Bundling: Amazon’s competencies are diverse, and the company has leveraged its array of skill sets in its promotional bundles. By packaging its Kindle line, streaming and express shipping service together, it has created a value proposition that no other pure VOD player can match!
Hulu is still coming into its own. What used to be a free, ad-speckled viewing experience has taken on a Netflix-like twist. And it all lies in its monetisation plan.
Unlike its more popular counterparts, Hulu manages to procure content aired on television within days of it being televised. Netflix and Amazon, on the other hand, take months to broadcast the same content. Its partnership with big studios is its ticket to quick content.
Monthly Subscription Fee: Hulu is priced at $7.99/month. Interestingly, Hulu is ahead of Netflix and Amazon in procuring television content.
Advertising Spots: Hulu still takes on advertisers, despite its monthly fee model. This means that viewers still see ads. The company also offers a $11.99 variant, that comes with an ad-free experience.
Advertising Spots: Hulu is one of the only VOD players to continue with advertising spots in a world where netizens tend to skip advertisements. Still, Hulu is looking to capitalise on these spots to draw advertisers and enhance the ad viewing experience of users.
Original Content: Netflix and Amazon have already cornered this opportunity, and now it’s Hulu’s turn. By introducing superior content onto its platform, it will create a differentiator for itself.
HBO is the first media company to branch out onto the internet. Although it started its online expedition with HBO Go, the media house found that it didn’t work as well, because users needed a pay TV login to access it.
As the name suggests, HBO Now streams content owned by HBO. There aren’t any stream limitations so multiple streams can be opened on devices with the same username.
HBO Now sells for $14.99/month. Because HBO owns the content, shows and movies debut online within minutes of being broadcasted on television. HBO Now can be accessed from any device, through Amazon, Google Play and the App Store.
Well-Timed Programming: HBO’s launches have been well thought-out. For instance, it timed its tremendously popular show, Game of Thrones, with the launch of HBO Now.
Tailored Content: There isn’t a significant difference in cost between HBO as a cable addition and HBO Now. However, by offering customers a unique, made-to-order viewing experience, HBO is combining its traditional and online properties to envelope a customer in the brand’s prowess.
CBS All Access
Meet another television entrant on the online bandwagon!
Like HBO, CBS has also developed an exclusive digital platform. And while you may find it odd that a platform could possibly broadcast shows from a single channel, CBS has cracked the code. By offering its stellar line up of shows the day after their telecast, CBS has viewers tuned in to stay up to date with missed shows and new content.
It isn’t difficult to start an online streaming platform anymore. Many media companies purchase ready technologies like Streamhash to complement their traditional offerings. And with the plethora of handy customisation options and fantastic features that such technologies provide, you save a whole lot of time and money.
Advertising Spots: CBS follows a differential advertising approach. It broadcasts ads for primetime, day-time and late night content, but television classics are run uninterrupted.
Television Advertising: CBS’s first phase of marketing involved advertising on its own television network, followed by spots on select outside networks. Thoughts like Watch live. Watch later and Binge away were pushed to consumers.
Digital Advertising: After traditional media, CBS resorted to a focused advertising approach through digital devices. The advertising featured specific shows or behaviours that would appeal to customers.
Influencer Approach: CBS launched an influencer-based approach, aimed at generating referrals through fan websites and word of mouth. It also hinted at rewarding these fans with a referral bonus or a free trial of All-Access.
The top 5 video streaming sites in the world are ideal models to follow on your own entrepreneurial path. Curate content for a unique geography as an acid test, and then expand your platform to cover more content. Take a leaf out of each of these company’s marketing books to forge your own journey!
Curating content for users is a complex task. It involves continual collaborations with content providers, analytics to assess your content traction and being ahead of the content curve. In the Over the Counter (OTC) race, first-mover advantage is everything.
If you’re looking for ways to source content for a Video on Demand (VOD) site of your own, you’ve reached the right place. With this handy little guide, you can sketch out a scientific content strategy that will help you curate your offerings by making sure they are relevant. If you are a first-time entrepreneur and are yet to finalise your technology, consider opting for a turnkey framework that will allow you to get going with your business within a few days. Opting for a ready framework is far less expensive than building your own technology, and you’ll save so much more time. Consider something like Streamhash, an impressive turnkey technology being used by numerous video tech startups today.
Once you’ve finalised your technology, on to content curation:
Create Content Partnerships & Licensing:
Regardless of whether you’re looking to charge a fixed member subscription, feature advertisements to monetise your platform, or offer differentiated packages for various segments, your content must be worth the price. Subscribers seek new content all the time, and as a broadcaster, you need to be on your toes, negotiating deals with content providers.
How Does Licensing Work?
So, how does licensing work? As far as VOD goes, licensing involves two parties; you (the broadcaster) and the content provider. The agreement that you chalk out will essentially give you permission to stream the movie, TV show or documentary of the content owner on your platform. It will be legally binding, and its terms could change with every renewal, as your relationship with the content provider evolves.
Let’s take an example to make this clearer. Say that you are seeking a TV show from an owner. The owner may give you permission to broadcast the entire show on your platform for one, two, three or even more years. And perhaps, when the agreement ends, the contract will be renewed if you and the owner find the proposition lucrative. Sometimes, content owners sign contracts for the same content with multiple VOD services. These are known as nonexclusive agreements, and are far less expensive than exclusive ones.
How Important is Exclusivity?
As the VOD market sees a plethora of players trying to get their foot in the game, content exclusivity has become a primary differentiator amongst content providers. An exclusive content agreement between a content owner and broadcaster may be fixed for a specific number of years, or in perpetuity, depending on the nature of the content. These are massive investments, and done after a huge amount of thought. That said, exclusive content can draw a larger number of subscribers to your platform in the long run.
Use Data Analytics:
If you want to become big in the game, you must invest in analytics. Of course, basic analytics come built-in with technology frameworks like Streamhash, but consider using advanced analytical tools as you scale your business. Here’s why. Content is expensive to procure, more so if it is exclusive to your platform. That’s why it is important to know what your users will like.
How Netflix Has Mastered Data Analytics:
Let’s talk about Netflix here before we go on any further. Netflix has set one of the best examples in data mining and analytics for content procurement. It has myriad trackers in place to gauge a user’s behaviour. If you’re watching Fuller House, for example, Netflix can place a finger on the number of episodes you’ve watched, where in the last episode you paused and how long you took to move on to the next episode. By drawing behavioural trends amongst users, they gauge overall engagement, and use this data to help them decide whether they should renew a show for a new season, invest in a brand-new show that is built for a similar segment or move away from the user segment entirely.
Netflix, And The House of Cards
In 2011, made an unprecedented move in the content space. It beat premium television networks like HBO and AMC to clinch two seasons, with thirteen episodes each, of The House of Cards. The deal was worth over $100 million. Steep? Of course, but Netflix knew what it was taking on.
The company had considered a few things before inking the deal. Firstly, it knew that many viewers had watched the movie, The Social Network, right through to the end. Secondly, it knew that the British version of The House of Cards had been lapped by audiences. And finally, Netflix had drawn a link between common users who had watched the British version, and who had also watched movies featuring Kevin Spacey, or those directed by David Fincher. It was almost like a digital Venn diagram that Netflix had captured, housing a certain volume of users in each circle.
Once the agreement was formalised, Netflix employed a phenomenal promotional strategy. It crafted 10 different cuts of the trailer for The House of Cards, each tailored for a different audience. Viewers whose consumption included many Kevin Spacey movies saw a trailer that included him, viewers who watched movies centred on women, were given a trailer featuring women. The show brought in 3 million new subscribers to Netflix, almost enough to cover the total cost of the show. Plus, it significantly improved the retention rate of existing users.
VOD is today, what television was ten years ago. Users favour on-demand consumption. Today, you don’t have users hurrying home from work in time to catch a movie premiere. It doesn’t happen. We spoke about how Netflix outbid HBO and AMC for The House of Cards earlier. Yet, that was just one example. The company also picked up exclusive rights for Fuller House back in 2016. In world markets, VOD players are bidding to showcase movie premieres on their platforms before television networks. So, the potential of VOD extends across television and film.
In 2016, Disney signed an exclusivity deal with Netflix, allowing the latter to broadcast all its latest movies on its platform. Fresh Disney content was withheld from television and rival VOD players such as Amazon Prime and Hulu.
The advantage with VOD is that it also offers a more premium experience than television, with its custom-targeted ads and fluidity across devices. Picking a technology like Streamhash can help you tweak the appearance of your site through an admin panel and built-in customisation features.
Pick a Content Collaboration Format
Your monetisation model may not be a replica of Netflix’s model. Perhaps you plan on charging customers per offering, or provide packages with varied offerings in each. If your revenue model is skewed towards an à la carte proposition, it would make better sense to enter a revenue sharing deal with a content provider. On the other hand, if you are thinking of offering standard packages like Netflix, a fixed license fee could work well. Here are three types of content licensing deals you could consider:
Fixed License Fee: Here, you, as a broadcaster, pay a fixed sum for an agreed tenure and geography. The success of the content is irrelevant to the content provider, and it is up to you to recover the investment through sales.
Revenue Share: In this case, you and the content owner split a percentage of the revenue received from content sales on your platform.
Minimum Guarantee with Revenue Share: This is like a revenue share model, but you, as a broadcaster, must promise to pay a minimum fee to content owners even before revenue starts rolling in. If your platform exceeds a predetermined expectation, you pay the excess money collected to the content owner. This model is extremely popular.
Create Your Own Content
Both Netflix andAmazon Prime have created their own original content to lure viewers onto their platforms. Netflix has created popular shows like Fuller House and The Ranch, and Amazon Prime has been recognized for its original series, including Mozart in the Jungle and Red Oaks. Creating original content is more cost-effective than procuring resale content from content owners. You also have the added advantage of applying data mining tools to create content suited to your audiences. As a content creator, you have tighter control over your offerings.
An effective content strategy can catapult your platform to the big league. Leverage content partnerships to get you there.
In the summer of 2015, Buzzfeed, a social news and entertainment company headquartered in New York introduced a novel Facebook-only cooking platform and named it Tasty. If you’re a social media buff, you’ve probably come across Tasty’s super-short recipe snippets, featuring a pair of hands spiritedly moulding ingredients into the most lip-smacking treats ever.
By September 2016, a year and two months after the launch of the sensational video channel, Tasty had become the third-most viewed video account on Facebook, having garnered close to a whopping 1.7 billion views. And by the last quarter of 2016, the viewership for a single video sat at an average of 22.8 million; no mean feat for a company whose original specialty was spread across a variety of formats. Today, Tasty contributes to more than 37% of total video views on the Buzzfeed network, powering a large part of the Buzzfeed machinery.
How Buzzfeed is Diversifying Through Tasty
Impressive? Very. But there’s more. Tasty’s success story wouldn’t be so inspiring if it weren’t for all the cross-promotion it has delivered for Buzzfeed’s umbrella brands. Buzzfeed isn’t a food brand, it’s a technology brand, and through Tasty’s reach, it has nimbly marketed its other platforms, such as its healthy food network, Goodful, and its DIY network, Nifty. Plus, it has created six regional variants for the Tasty brand for various markets, including Proper Tasty for the UK, Bien Tasty for Spanish audiences and Tasty Miam for French viewers. With all the spinoffs it has created, it has kept the content strategy standard and simple: fast-motion videos featuring hands putting together something wonderful.
Buzzfeed’s Revenue Model
While the marketing sounds great, you’re likely curious about Tasty’s revenue model. Tasty collaborates with brands, creating made-to-order brand elements in a recipe video. It charges advertisers a price to feature at the end of a video and stitches the theme of the brand into the video. Consider this video, that Tasty has made for Bank of America, emphasising the value of savings throughout. This is how Tasty charges advertisers:
Cost to Advertiser = Upfront Fee + Cost Per View (price per view on the videos).
Most publishers on Facebook favour this monetisation model, making it the leading revenue generator for digital publishers.
The barriers to entry in the fast-motion video space are low, despite the technologies that one would need. So, it’s no wonder that a slew of new entrants has tried to plant their flags in the space in recent times. TipHero, 12 Tomatoes, LittleThings, Cooking Panda, and Get in My Belly, are just some of them.
How Tasty’s Competitors Are Raking In Revenue
Most insta-recipe brands prefer to collaborate with sponsors for branded content on their platform, much like Tasty. Because these brands are driven by volumes, this monetisation strategy works well. Cooking Panda has sealed deals with smaller advertisers like BumbleBee Tuna and Star Fine Foods, which have been renewed at the end of every term. Most platforms believe that maximum money can be made through branded content.
Tastemade is employing branded content as part of a much broader monetisation strategy. It had already tied up with Hyundai for a 14-episode branded series on its platform. It has also established a revenue stream on Instagram by selling product integrations to food and beverage advertisers. It is now considering featuring food and beverage advertisers in its Instagram Stories, although no deals have been signed yet.
How New Entrants In Fast-Motion Video Are Employing Technology
Not all of Tasty’s competitors have taken the same technology route as Buzzfeed. Investing in a stack like Buzzfeed’s would take several months and heavy capital investment. Many video startups prefer to purchase turnkey frameworks that would allow them to get started with their platform in just a few days. Streamhash is a popular option amongst enterprising millennials, kick-starting a video platform in two days flat.
How Upstart Cooking Brands are Differentiating Themselves
A valid question here would be, with the rise of so many upstart overhead cooking video pages, where’s the differentiation? It seems like each brand is melting into the next as you scroll through your Facebook feed. Sound familiar? Brands are realising the need to branch out before the clutter becomes irreversible.
Cooking Panda Is Exploring New Video Formats
Cooking Panda, 80% of whose videos are centred around cooking, is dabbling in alternate formats. For starters, it will launch a cartoon series titled Adventures of Cooking Panda, and a travel show called Wanderlust. And though the popularity of these two new offerings is no patch on the 45-second recipe videos it has become known for, the brand recognises that it needs to try something new.
Twisted’s Travel and Lifestyle Series
In a similar strategy to diversify, a London-headquartered food page called Twisted, is showcasing quirky, out-of-the-box recipes that haven’t been attempted yet. Tastemade, probably Buzzfeed Tasty’s biggest rival, is focusing on travel and lifestyle-related series, and has added Facebook Live as a permanent bullet in its marketing ammunition. Most platforms know that overhead cooking videos will lose steam about a year down the line. And they are exploring alternate ways to captivate audiences.
Differentiation Through Technology
You won’t find a significant difference between the interfaces of LittleThings, Cooking Panda and Buzzfeed Tasty. They’re largely clones of each other, and the only differentiating factor would be the content that they make available for users. Therefore, for upcoming startups, investing in a readymade technology would prove more prudent. With a technology like Streamhash, you’ll avail the same features you’re used to on your favourite video streaming site, and its fluid design will enable your users to consume videos irrespective of the device they are using. Smartphone, tablet, laptop, whatever.
Most budding entrepreneurs are torn about the most effective technology they could use. Of course, there are various options in the e-market. If you’re considering technologies for your video platform, it’s always important to have your basics in place. Make sure you have a quick and easy way to upload videos to your site, separate servers for web pages and streaming to reduce redundancy, and a script that is fool-proof. Frameworks like Streamhash already have these features worked into their product.
How You Can Set Up Your Own Insta-Recipe Platform
The opportunity in fast-motion videos is limitless, because you can localise content to a city-level, and still find a sizeable audience. Food preferences vary every hundred kilometres, and with a localised content strategy, you could expand your network to create multiple channels, each featuring recipes from a different region. Then, there’s language. Notice with the videos on Tasty, there’s always text printed in bold featuring ingredients, thrown in through the video. Tasty has already customised its approach for a handful of world markets, but there are several markets that remain untapped. Asia, for example has not been explored at all. Nor has South America. As an entrepreneur, pick your content format, your market and a turnkey technology. With a localised approach, you can work magic with video anywhere.
You could also look at building layers on your platform. Perhaps you can offer a basic free viewing version and then top that with a premium video layer, that you can monetise through a Pay Per View model. You can also think about introducing live cooking sessions by adding a live streaming feature to your platform. Streamhash allows you to integrate live streaming with the features of a Video on Demand site, so that you can enjoy a variety of video options. Think about pricing these sessions as low as 50 cents, to attract users, as a penetration strategy. You could showcase unusual, fresh-from-home recipes that will create a buzz online.
How Effective Technology Powers Buzzfeed Tasty
It’s amazing how Buzzfeed continually produces such immersive video content on its Tasty platforms. Needless to say, its technology stack has an enormous role to play. Tasty’s tech stack is made up of a vast number of technologies, including Apache for its web server, Amazon EC2 for the storage of media files, Django and Backbone.js.
With readymade frameworks, your job of curating your website becomes a whole lot easier. Streamhash, for example, comes with built-in themes that you can apply with the swish of a button. Also, with a ready-to-use framework, much of the backend optimisation has already been done for you. Streamhash’s SEO-optimisation feature and trusty admin panel allow you to get started immediately.
There’s so much you can do in the insta-recipe space, and so much you can innovate.
With the right technology and a localised content approach, replicating Tasty’s entertainment game can lead you to a potential goldmine!