My Video - How to Turn it Into Money in Your Pocket!
Ok, so you created a great, fun or memorable video.
Let's call it "My Video".
It has been a labor of love for you and your group of collaborators.
Here is the big question you have to answer.
How do turn this digital asset into money that flow into your bank account? The traditional method is selling My Video to a source that would brand, promote and distribute it for you.
The benefit is that the corporation fronts all the money, takes all the risks and reaps the rewards.
The difficulty is getting My Video to the right person, having them approve of your video and put it into their pipeline.
It can take years to get to the right person who appreciates what you have produced.
In addition, another drawback is the corporation takes the major portion of the revenue leaving you with as little as a few cents per video.
Another solution is to personally promote My Video.
You will need to hire an advertising company to create a label and marketing materials.
Next you need a contract with a distributor.
Then you need to have My Video duplicated, labeled and boxed.
After you fund an advertising campaign, you will go on local and national radio and television stations to get the word out.
An 800 number and a fulfillment service are next on the list.
The costs will be $40,000 to hundreds of thousands of dollars.
The risk is all yours and so are the rewards.
Even if you had the money to fund the production, promotion and distribution of My Video by yourself, it will cost so much that you won’t break even until you have sold thousands of videos.
Minimum costs for 1,000 copies of My Video might be as follows: Advertising and Marketing$20,000 -consult, development and printing Duplication $1 per CD,$1,000 Distribution $6.
00 per CD$6,000 - labels, case, & fulfillment services Living Expenses for 7 months$14,000 Travel $300 per day on the road.
$9,000 for 30 days TOTAL$50,000 If My Video sells for $15.
00 each, you would have to sell 3,334 to simply break even.
So My Video should have the realistic sales potential of at least 10,000 to 20,000 videos.
We all have friends and family that are happy to helpful and supportive.
Do you have 10,000 in your group? Most of us don’t.
What is the solution? Find a venue in which you can distribute My Video to the world that is cost effective.
Of course, you would need to design your logo and the trademark it.
An application for an international trademark is $375.
(www.
uspto.
gov/forms/index.
html)To copyright My Video is merely $45.
Find forms at [http://www.
copyright.
gov/register/performing.
html/].
Hurray, now you have spent only $420 plus postage and duplication of your logo and My Video.
Your content is now protected.
The next challenge is to create a market without hiring an advertising company (or several).
The answer is found in the emerging digital technology on the internet.
By posting it on popular social network video sites you can generate many hits.
Be warned; don’t just get the many “hits” on your site at You Tube or My Space page.
You need to protect and monetize this content.
Making money from your efforts of My Video is the goal...
right?By posting it on You Tube, you give up ownership of your content.
It becomes public domain.
Think about it, would you pay for content that you can get for free? No, neither will anyone else! The magic of the internet is the viral nature of connections.
One person likes your content and tells their friends, who share it with their friends.
Your group of 10 best friends each sends 20 messages, now you have 200 people telling their best friends.
If those 200 people helped you sell just 5 My Videos and then it stopped totally you are successful.
Do the math!If you sell you My Video for $15 and your costs are $7 to duplicate, label and ship, your profit is of $8 on each video.
Therefore selling only 1,000 will produce a profit of $7,680.
in YOUR bank account.
Just imagine if those 1,000 like your content and told another 5 each.
Now your profit is an additional $32,000.
Have a great party and start making your next video!
Let's call it "My Video".
It has been a labor of love for you and your group of collaborators.
Here is the big question you have to answer.
How do turn this digital asset into money that flow into your bank account? The traditional method is selling My Video to a source that would brand, promote and distribute it for you.
The benefit is that the corporation fronts all the money, takes all the risks and reaps the rewards.
The difficulty is getting My Video to the right person, having them approve of your video and put it into their pipeline.
It can take years to get to the right person who appreciates what you have produced.
In addition, another drawback is the corporation takes the major portion of the revenue leaving you with as little as a few cents per video.
Another solution is to personally promote My Video.
You will need to hire an advertising company to create a label and marketing materials.
Next you need a contract with a distributor.
Then you need to have My Video duplicated, labeled and boxed.
After you fund an advertising campaign, you will go on local and national radio and television stations to get the word out.
An 800 number and a fulfillment service are next on the list.
The costs will be $40,000 to hundreds of thousands of dollars.
The risk is all yours and so are the rewards.
Even if you had the money to fund the production, promotion and distribution of My Video by yourself, it will cost so much that you won’t break even until you have sold thousands of videos.
Minimum costs for 1,000 copies of My Video might be as follows: Advertising and Marketing$20,000 -consult, development and printing Duplication $1 per CD,$1,000 Distribution $6.
00 per CD$6,000 - labels, case, & fulfillment services Living Expenses for 7 months$14,000 Travel $300 per day on the road.
$9,000 for 30 days TOTAL$50,000 If My Video sells for $15.
00 each, you would have to sell 3,334 to simply break even.
So My Video should have the realistic sales potential of at least 10,000 to 20,000 videos.
We all have friends and family that are happy to helpful and supportive.
Do you have 10,000 in your group? Most of us don’t.
What is the solution? Find a venue in which you can distribute My Video to the world that is cost effective.
Of course, you would need to design your logo and the trademark it.
An application for an international trademark is $375.
(www.
uspto.
gov/forms/index.
html)To copyright My Video is merely $45.
Find forms at [http://www.
copyright.
gov/register/performing.
html/].
Hurray, now you have spent only $420 plus postage and duplication of your logo and My Video.
Your content is now protected.
The next challenge is to create a market without hiring an advertising company (or several).
The answer is found in the emerging digital technology on the internet.
By posting it on popular social network video sites you can generate many hits.
Be warned; don’t just get the many “hits” on your site at You Tube or My Space page.
You need to protect and monetize this content.
Making money from your efforts of My Video is the goal...
right?By posting it on You Tube, you give up ownership of your content.
It becomes public domain.
Think about it, would you pay for content that you can get for free? No, neither will anyone else! The magic of the internet is the viral nature of connections.
One person likes your content and tells their friends, who share it with their friends.
Your group of 10 best friends each sends 20 messages, now you have 200 people telling their best friends.
If those 200 people helped you sell just 5 My Videos and then it stopped totally you are successful.
Do the math!If you sell you My Video for $15 and your costs are $7 to duplicate, label and ship, your profit is of $8 on each video.
Therefore selling only 1,000 will produce a profit of $7,680.
in YOUR bank account.
Just imagine if those 1,000 like your content and told another 5 each.
Now your profit is an additional $32,000.
Have a great party and start making your next video!
