How YouTube Offers An Underrated Business Opportunity
According to a recent report, 80% of all internet traffic is video. YouTube alone sees over 1.9 billion logged user visits each month. Vloggers like PewDiePie and Logan Paul are celebrities in their own right and according to a Forbes report, the top ten YouTubers made over $180.5 million last year.
Clearly, the popularity of vlogging doesn’t need any further emphasis. But while there are perhaps millions of aspiring vloggers trying to make a living off YouTube, video production as a business opportunity is still largely unsaturated.
Production quality
A big reason why YouTube channels like Wendover Productions or PolyMatter are popular is because of the high quality content that these channels put up. Besides the fact that these channels discuss interesting topics, the production quality is top notch which makes these channels addictive to the average viewer.
Unfortunately, this is not the case with a number of other vloggers. Take the travel blogging industry for example. An overwhelming 48% of YouTube channel subscriptions in this industry is to travel vloggers. Yet, only a small percentage of these content producers invest in high quality production. Most travelers let the exotic destinations speak for themselves.
This is not entirely a bad idea. However, with an exponential rise in the number of videos that get published each day, it is becoming increasingly harder for your videos to be seen on YouTube. Production quality increases viewer engagement and thus has a direct impact on how well your content is recommended to the target viewer.
Untapped market
Some of the biggest animation companies in the world today cater to the enterprise business segment for the production of explainer videos and editing marketing content. A video production agency targeted at the YouTube vlogging market is relatively untapped. This is primarily because most successful channels today have their own in-house production teams. However, given the growing interest in video marketing, there are a large number of small businesses that want to have their own successful YouTube channels. Offering them video production as a service can be a profitable business opportunity.
Here are a few interesting business opportunities you can tap with respect to video production.
Content white-labeling
As a video production company, one of the most exciting opportunities lie with content white-labeling. Essentially, you produce interesting content on various topics that can be white-labeled by businesses for their own YouTube channels. For instance, a financial institution may be interested in producing high quality videos about personal finance and investment. You may produce content on such topics for your clients that may then be published on the respective YouTube channels.
Video translation
YouTube is widely popular outside the English-speaking world. According to metrics published on Alexa, only 15.8% of the visitors to YouTube come from the United States. The top five viewership to the platform comes from countries like India, Japan, Russia and China where English is not the predominant language.
There is an excellent opportunity here when it comes to repurposing and relicensing content for viewers of various countries. For instance, a video about the history of cars could be re-produced to various languages that may then be licensed for a fee to local businesses in the industry.
This strategy allows the original video producer to monetize their traffic from countries where they are not popular. In exchange, you help businesses from various countries produce high quality content without large investments.
Video Accessory Services
Producing a successful YouTube video campaign is a culmination of several processes like content ideation, video production, voiceover and marketing. Each one of these services can be specialties that your business can focus on. For instance, you could help in repurposing existing blog and research content into videos that businesses can publish on YouTube. You may also provide subtitles services to existing videos. An animation company may help in translating content ideas into animated content. Providing any one of these services can be a profitable business opportunity.
While YouTube provides a great business opportunity for vloggers, the opportunities do not end here. There is a largely untapped business opportunity in servicing existing channels in their production and marketing of videos. Given the influence that YouTube has on digital marketing today, this is a service that can be highly profitable.
