What we've found: Episodic content does well around the $3.00 mark.
That said, you can price short content as low as a buck, and if you use the "Pay What You Want" sliding payment scale feature, ask your fans to pay what they want, from $1.00 up. Check out how our friends at " Hello Cupid" charge $3.00 per episode (and their fans love them for it). Visit STRIPPED's website to see how they sell individual clips of bonus content for $2.99 each.
What we've found: Single feature-length videos (without bonus content) perform best when priced between $4.99 and $9.99.
- Chalk it up to our mysterious brains: When people see a film for below $4.99, transactions don't increase. Why undercharge for no reason? On the other end of the spectrum, films exceeding $20 drastically underperform, so it's best to stay away from that territory.
- Don't offer your film for $1 or less. Vimeo OTT titles at this price point haven't sold well, plus transaction fees cut too much of your already small profit. We've found people are unlikely to take out their credit cards for a buck.
Make it deluxe!
- Price deluxe products 30% - 60% more than standalone videos. Offering a simple Q&A? Bump the price up 30%. Including 100 minutes of bonus content? Add a full 50%. So, for example, a $7.99 film with bonus content should sell for between $10.99 and $12.99.
- MINECRAFT is a great example: 67% of their customers purchased the deluxe products with a lot of bonus material, priced 50% higher than the standalone film.
- Don't sell extra content on its own (remember when we talked about $1 purchases?). It might be tempting to offer a bargain item, but a product that doesn't include the film itself usually doesn't sell. And, remember that over 50% of your audience is likely to purchase a deluxe edition. So keep product options to a minimum and then up-sell with plenty of extra appealing content.
- Make the deluxe product the default option on your website. People will spring for added value if it's presented as valuable. (And it is!) And because it's the first thing they'll see on your site, they'll consider going for it automatically.
- 63 - 96% of Vimeo OTT customers purchase products over single episodes, seasons or films.
- Bundled products should be priced at a 20 - 25% discount relative to individual videos. Extra value will convert most customers to products. For example...
- Episodic content: Consider selling just the first episode, or give it away for free, so fans have a taste of what's to come. Then sell the remaining episodes in a bundle to optimize revenue and minimize transaction costs. Have multiple seasons? Sell them individually, but make a master bundle as well. Check out the television show "MeatEater" for a great example.
- Multiple films: Sell each on its own (because fans will always look for a specific title), and offer them as a discounted product together. This way, a lot more people will end up watching all your films and spreading the word about your work.
- BURN is another great example: They sell TOO HOT FOR BURN, BURN and both together; 41% opted to purchase the combo.
- Price single videos around $5 and $10 (stay away from the $20 price point)
- Offer deluxe products with bonus content for 30% to 60% more
- Selling several videos? Offer them individually and together for a 20% - 25% discount