the byte community forums

How to monetize v2?

One of the issues with Vine was the lack of a way for creators to monetize their content. With v2 , Artists want a way to make money from the app. Ads are one way to go, but we can all agree that they worsen the experience for the viewer. There are alternatives to ads, and I think that one stands out above the rest in many ways. Steemit is a different approach that content creators and viewers could both agree on as a better alternative in many ways. Creating an account through Steemit would be an easy way to verify users before they rip off other Artists’ content at the account creation stage. I’d love to hear other people’s thoughts on this approach. I’ll try one link to Steemit’s FAQ page so you can get acquainted with the basics of what Steemit is.

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Interesting

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It really is. Dtube is one of the services that already uses this system.

https://d.tube/

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I mentioned this in one of my older threads, however I think it would be call if ads showed up on individual profiles. For example, someone clickso n your profile, and there would:

  1. Be a bar at the top of your page that people can click, the ad at the top changes everytime that user refreshes/loads your profile.

  2. On your profile in between a set number of posts, a video ad would pop up. Kind of like how instagram does it, but instead of it being on the home page, it is on the user’s profile (if they monetize their profile).

The money cut would be similar to youtube, as in 40%-60%, or possibly 70%-30%, etc…

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So you’re saying something that uses the Steemit system, but also has monetized profile pages with ads on them? Or just ads on profile pages? I think a healthy balance between the two would be best. That way people just messing around can receive money for good content but people who want to use it to bring in money can really utilize the app’s monetization features. The Steemit system is probably important in order to prevent ad blocking from stifling monetization features for Artists.

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I think it’s important not to overlook donations etc, which could be integrated to the app to incite users, using systems like Patreon etc that actually give creators a salary regularly.
Another inspiration could be Twitch’s subscription system, but I have yet to work out how that could be implemented with an app like V2 (you need to provide real advantages for paying subscribers to motivate them to pay, but these advantages must not be stuff that free followers will want/need to make the app interesting for them too. It’s hard to balance.)

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I agree with everything above me. I’m just too lazy to type it all lol.

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Nah, not with the steemit thing. Just pure ads being shown

Yes you’re right. I completely forgot about donations for a minute there. I agree that donations are a good way to go, but like you said, Patreon exists. I think integrating Patreon would be more effective than trying to redevelop it for the app. It would allow for people to subscribe without actually needing to in order to see their content. As much as I would hate it, premium content is still technically an option, but it would ruin the experience for a large majority of the platform viewers. I like the idea of Steemit because Artists can get paid but nobody has to put in their own money. I think that if donations were added through Patreon integration, a donation-based system would work fairly well. I just dont like the idea of donations being the only way to make money from content.

Dang this is possible, but is it too reliant on block chain/bitcoin stuff being viable? It seems like a cool way of monetization just as long as it is a dependable source of income. There will always be a need for advertisement. But if this alternative is just as reliable then I’m all for it!

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Ads are a common way of making money, but with ad blockers on the rise, it might be less effective. It would also be a shame if people started making content for advertisers instead of viewers. YouTube has started to degrade a little due to this very reason. In my opinion, ads are the worst way to go for monetization, especially with so many alternatives. I don’t believe it would bring in enough revenue on its own for Artists, especially with ad blocking so readily available. However, having ads on profiles but not on timelines isn’t a bad idea in itself, as most people might not bother blocking ads if they’re that out-of-the-way. On the flip side, it could be a bad thing for Artists after all. Viewers might avoid going to profiles to view more content from specific Artists if they know there are ads there. I’d like v2 to take a different approach and try alternatives to ad revenue if possible. I do understand that not all people feel the same though.

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I understand your concern, and I have that concern myself. However, the only reason gold is valuable is because people agreed on it and are willing to pay for it. The only reason paper money works is because people agree and accept its value. In the same way, the only reason block chain currencies like this one are worth anything is because people agree it is and are willing to pay for it. Of course, when people stop trading it and agreeing that it’s worth something, it’ll stop being a viable currency (the same way any other currency would.) I believe that if enough people hop on this platform to get it rolling and see this as a way to receive revenue, they’ll agree that it’s worth something, which should eliminate the aforementioned concern. Also, because Steemit is used elsewhere, it is already recognized as something worth something, so the problem of Artists not being able to get paid should be virtually nonexistent. An integrated donation system like Patreon would still be reassuring as a backup, just in case people stop agreeing on Steemit as a viable currency.

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Yes, but how many people use these currencies?
First the value of gold is not as stable as it used to be nowadays and that serves as a perfect example to discuss block chain currencies. What is important is how many people use that money, the amount of money in circulation, how frequently it is used. Because these facts prove how many people trust it and agree on its value. They are pillars for the stability of a currency. So with small currencies, like crypto ones a loss of interest of 1000 investors is enough for a creator to lose all of his money… So most crypto-currencies are great to speculate, but not to use as a stable value. At least not yet. In the future it could be interesting as an option, but any investment in these currencies is a risk for now. Let alone the fact that some investors raid these moneys to boost their value and then drop it to make profit.
So as a creator, I personally would not want to be paid in these currencies as I could lose everything overnight, and thus would have to convert everything all the time into a stable currency like €$£… Pretty annoying.
However i’m not saying it should be totally left out, it could be an interesting 3rd or 4th option. But clearly not the main one… Way too risky. (which means that again, creators who get famous on the app would then leave it for a more stableplatform on which they are sure they get their money AKA youtube)
Also, for way better explanations you should watch John Oliver talk about Crypto-Currencies on Last Week Tonight.

I’m not terribly well versed in how gold, cryptocurrencies, etc. hold their value or how it can change overnight, but I do know enough to agree with you on every point. I said that it would be almost guaranteed to work, but I was assuming that it was already stable and accepted, which it is not. It was insightful to read what you had to say, and I think that at the end of the day, having Steemit or other similar currencies as a 3rd or 4th would be best. I’d like to see it become more stable in the future to allow more creators and platforms to use it, but until then, I’d like to explore other options that dont involve ads or a forced subscription as the main source of revenue.

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There is no other way to do it without one of those three ways though. It’s literally impossible. I think ads and a possible subscription service would be good. I’m gonna make a post on subscription ideas soon.

Here is @Tyrellv2 previous post about a similar issue:

https://community.v2.co/t/monetization-and-verification/15109?u=annam

This! :+1:

Well damn reading this all, now I really do hope v2 to have a monetization option… would really help us content creators really earn a living somehow :’) for the hard work we’d eventually put in

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Thanks. I read through most of the thread and I understand @Tyrellv2’s point of view more. I was getting a whole different vibe from this thread alone. I like the idea on their thread a lot, after reading it through, but I dont think it’s a perfectly polished idea (though I’m sure we’re all aware that nearly no idea is polished from the get-go). There’s still the issue of ad blockers on the rise, so could be an annoying hurdle to overcome. Even if the v2 app forced people to turn off their ad blocker on order to see content, the same thing might happen that happened to Spotify. Cracked versions of the app would start coming out with the advertisement elements deleted from them entirely. I’d like to look into alternatives to an ad-based system, but I understand that it may be inevitable. I’m looking for an experience that is equally beneficial to the viewers as the Artists.

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Ad blockers being a thing doesn’t mean ads shouldn’t be a thing. This app will also be on our phones so it’s incredibly difficult to get an ad blocker for the app unless it’s custom coded. Even if ad blockers were used, I included a subscription service and brand deals, so even if one source of revenue is down, there are still two others