So Vidme is shutting down, and this is every online video creator right now:
Not just because we’re losing Vidme, but because of the overwhelming implication that we’re unlikely to see a viable YouTube alternative anytime soon. And for people who depend on monetizing videos to pay their bills, this is a huge deal.
People were rooting for the little guy to compete with YouTube to create a healthy video-streaming platform market where:
- People would have platform options beyond YouTube
- YouTube would be enticed to work a little harder on giving creators better monetization options and conditions
… both conditions that would allow creators to make a more money and be fairly treated.
The majority of Vidme creators are either YouTubers who were looking to syndicate their content and diversify their audiences, or ex-Youtubers who became aware of the major downfalls of YouTube when it comes to making a living on there.
So where does Vidme’s shut-down leave them now? What options do Vidme and YouTube creators and lovers have post-Vidme?
Not a lot of options to be honest, but there’s one clear next step to follow:
Accept reality: Video-sharing platforms will never be the place to run a stable video business
Note: we’re not saying you can’t make a living monetizing your videos (because you sure can). We’re saying YouTubes and the likes are unlikely going to get you there.
The fact of the matter is that platforms like YouTube and Vidme are primarily video-sharing platforms with the side benefit of maybe making a few extra bucks. YouTube’s monetization conditions will not get any better either because it has no reason to – it knows its creators aren’t going anywhere (hence the need for healthy competition!).
For a Vidme or YouTube creator, this may be a hard pill to swallow, but it’s what you need to digest to figure out your next steps in making a living selling your videos online and building a community around your content.
First, you have some thinking to do:
If you’re looking for somewhere else to simply upload and share your videos, going back to YouTube may be ideal. You can also give Dailymotion a try, although we wouldn’t be surprised if it followed in Vidme’s footsteps soon (although we really hope not).
If you’re looking to create a profitable and legitimate business selling your videos online, it’s time to venture into self-hosted independent video streaming options.
Basically, take matters into your own hands!
Launch your own Video Streaming Website and OTT app
Video content creators have a chance at something greater than YouTube. There is a way to reap the benefits of YouTube (SEO, reach, audience) to monetize videos more than YouTube or any video-sharing platform will ever allow.
Use YouTube as a marketing platform, where you generate leads to your independently owned video streaming website and get to keep every dollar you make.
This isn’t hard to do, especially if you already have a YouTube subscribers. Here’s a detailed guide on how you can use videos to sell your videos.
With the rise of easy-to-use self-hosting video platforms like Uscreen, creators are starting to realize how much money they could (and should) be making off their content.
The fact of the matter is that while Youtube’s reach means great potential exposure, that exposure rarely ever translates into the business you could be getting for your video content directly on YouTube.
But its huge exposure is still very useful, and using it as a marketing tool is a smart way to drive traffic to your online video website.
Not only is this a much savvier strategy, but it also ensures that your content is safe from piracy and unscrupulous vendors who want to make a quick buck off of your hard work.
That’s how Magic Stream made $230K in 10 months
In case you’re skeptical (understandable), here’s a real-life experiment and short case-study:
Ellusionist posted its very first video on YouTube exactly 10 years ago, long before it started Magic Stream. It has been posting instructional and inspirational magic videos and has since grown into a 126,000 subscribers channel. Ellusionist is estimated to have generated a total of $165,000 throughout its entire YouTube career (based on this cool YouTube money calculator).
Ellusionist then created Magic Stream in April 2017 on Uscreen to expand beyond its official YouTube channel and sell subscriptions to a large video library of magic content – “If Netflix did Magic” is how they like to describe it.
Magic Stream has since generated over $230,000 from 5,000 subscribers at $12.99 a month.
Take this in: it took the Ellusionist 10 months to make 140% of what took them 10 years to make on YouTube selling the same exact content.
So not only is it possible, but it’s a more profitable business strategy overall.
It all comes down what you want out of sharing videos online
At the end of the day, it really comes down to your goals. What Magic Stream did in 10 months using Uscreen was amazing, but it wasn’t easy. Ellusionist treated their Magic Stream project as the business that it is, focusing and working on marketing and content generation.
If you’re a serious YouTube or Vidme creator who has been working to making a living off one of those platforms, you’re probably already putting in that same amount of work anyway, except your being rewarded in 10 fold using the strategy outlined above.