Introduction to content monetization platforms
Creators all over the world have made it big by coming up with creative ways to do content monetization. As the market becomes more evolved, we continue to see new technologies and a growing number of new content monetization platforms. With the advent of Web3, NFT technology and subscription platforms, the industry is moving towards a big shift – the creator economy is expected to be worth $69.9 billion in the next 7 years!
The best platforms to monetize content have repeatedly helped creators to turn their passions into stable income using various methods such as advertising, subscriptions, and product sales. And in this article, we will help you do exactly that! We will deep dive into the world of content monetization companies, and help you pick the right one for you. We’ll compare features and we’ll also discuss top content monetization services that are available at your disposal. Finally, we will share tips on how you can use these tools to their full potential along with notable success stories.
Let’s get to it!
Top content monetization services websites for 2023
With the plethora of content monetization technology available, choosing the right one can be overwhelming. Here are the top players in the market for 2023:
A popular choice among creators, Patreon allows you to offer exclusive content and perks to subscribers in exchange for a monthly fee. It also provides analytics tools to track your earnings and user engagement.
Medium Partner Program:
Medium is a blogging platform that offers a Partner Program, allowing writers to earn money based on the engagement their articles receive from paying members.
YouTube Partner Program:
YouTube offers content creators the opportunity to monetize their videos through ad revenue, channel memberships, and merchandise sales.
The best platform to monetize content in the list, Paysenger offers a lot of modern monetization tools in one place such as paid messaging, on-demand content, digital product sales, sponsorship collaborations and more. It’s becoming harder and harder for creators to find support using conventional subscription platforms. That’s because there’s a lot of competition and by now – audiences have learned to “automatically ignore” ads or CTAs asking them to buy another Patreon subscription.
On Paysenger, audiences interact with their favorite creators in new ways:
- Through paid communication: Fans can immediately get your attention by sending a paid message to you. Every DM you respond to is paid.
- By fulfilling requests: Instead of committing to a monthly subscription, audiences can simply request content from you. The content can be as personalized as they want, as they get to describe their request in detail. You get paid for every request you fulfill.
- By collaborating with sponsors: Sponsors can easily collaborate with you by going to your profile and placing an order. Every piece of content is minted into NFTs, which means both the sponsor and you jointly own content produced in collaboration. This opens up a host of new monetization possibilities.
Finally, Paysenger uses EGO tokens as its utility token. All transactions are carried out in EGO and people can actually earn EGO on the platform without spending a dime.
Try Paysenger here.
Podia is an all-in-one platform for creators to sell digital products, memberships, and online courses. It offers a clean interface and various monetization options, making it a top choice for many entrepreneurs.
Use content monetization tools to optimize your earnings
There are many tools that you can use together with main platforms to diversify your revenue streams. For a lot of new creators, it’s not practical to simply rely on YouTube ad revenue, for example. YouTube algorithms can be highly unpredictable and come with a lot of requirements (especially for creators who are getting started on their journey). With that being said, here are some monetization tools.
- AdThrive: AdThrive maximizes your ad revenue by optimizing ad placements, running A/B tests, and offering dedicated account management.
- Outbrain: Outbrain connects you with publishers, so you can readily monetize your content by finding sponsorship deals.
- Kajabi: This is a Udemy alternative for experts. You can create, market and sell online courses all in one place on Kajabi. It also offers other marketing tools such as integration and automation.
- Gumroad: Gumroad is absolutely essential for influencers looking to sell merch, ebooks, software, music and art. You can use its innovative, drag-and-drop interface to design fully-featured e-commerce stores for digital products.
Benefits of using monetization tools
Here are some benefits of using additional monetization tools.
Track user engagement
Tools can offer additional layers of analytics to boost user engagement, views, clicks and conversions. You can know which platforms are working best and what type of content is bringing the best results. Using this valuable data, you can optimize your workflow, focusing on content that really matters.
Automate ad placements
As a content creator, you are bound to distribute content through a number of different channels. This includes YouTube, Instagram, Blog, Email and so on. It can become extremely difficult if you have to manage ad placement for each platform separately. Advanced ad-serving technologies, such as header bidding and real-time bidding (RTB), allow you to automate this entire process. When you use automation, your ads get the maximum amount of screen time.
Streamline payment processing
Monetization tools make it easier to sell products, take affiliate commissions and take payments from your supporters. In addition to selling physical merch, you can also use such tools to sell NFTs. Paysenger, for example, turns all of your content into NFTs and you can sell it directly on the platform’s built-in NFT marketplace. It also helps you collect your royalties for any subsequent NFT resales.
Diversify your income sources
It’s never a good idea to put all of your eggs in the same basket. Content monetization tools allow you to diversify your income by incorporating earnings sources such as:
- Donations from supporters
- Sponsored collabs
- Merch sales
- On-demand content
- Special requests
- Ad revenue
For example, if your primary source of income is ad revenue on YouTube, it’s always worthwhile to open a Patreon page to support it. If your earnings through ad revenues become lower (it happens a lot with YouTubers), you can always have a backup income source on Patreon. Similarly, you can use Paysenger to not only earn from subscriptions but also by fulfilling special requests, replying to messages, selling content, doing cameos, giving shoutouts and more.
Content monetization case studies: Success stories
Content creators all over the world are creating success through content monetization. Here are a few examples for inspiration:
- Wait But Why: Tim Urban offers exclusive articles and behind-the-scenes footage on Patreon related to his popular blog Wait But Why. His subscriptions cost $1 to $5/month.
- Yoga with Adriene: Adriene Mishler is a YouTuber with free yoga classes. She monetizes using ad revenue and sponsors but also offers memberships on Patreon in exchange for exclusive content and behind-the-scenes footage.
- The Original Cast podcast: Patrick Flynn offers three tiers on his Patreon channel from $2 to $5/month, each tier unlocking special access to premium episodes of his podcast.
How to choose the right platform for your content niche
Each platform comes with its own norms, conventions and content “flavors”. YouTube audiences generally favor long-form content (YouTube Shorts tend to earn less). Patreon, on the other hand, requires creators to commit to providing exclusive premium content (which is not available for free). Consider the following when picking the right platform for you.
Ask your audiences
Sometimes all you need to do is ask! If your audiences engage better with your long-form videos instead of Instagram stories, then you might need to focus on YouTube instead. You can always pair YouTube with a monetization platform like Ko-fi or Buy Me a Coffee to take quick donations for your efforts.
Each platform supports a specific type of content format. TikTok is great for short-videos, Twitter is for threads, YouTube is for videos, Instagram is for high-level photography and Reels. And similarly, you can offer courses on Udemy or Coursera. Do your research, and you will learn many new options.
Time and money
Generally, platforms that have more competition are harder and more expensive to monetize. If you’re just starting out, you’ll need to consider the amount of work you need to put into getting noticed. You’ll be required to do a number of things from producing high level content and then promoting it using a marketing budget. YouTube has intense competition, so you’ll be spending a lot more time, effort and money getting noticed. On Paysenger, on the other hand, competition is lower for now since the platform is in its early growth phase. You can get noticed easily without spending too much effort.
You might think that starting on a new platform is not beneficial because it doesn't have enough users. In the past, creators who started early on YouTube or TikTok were the first ones to create trends that shaped the future of those platforms. These creators grew faster and made the most amount of money. Similarly, Paysenger is a rapidly growing platform with over 500,000 users at the moment. Becoming an early adopter will put you in the perfect position to get extra exposure from all the new users that join Paysenger. So don't miss the opportunity!
Conclusion and future trends in content monetization
Content monetization platforms are imperative for creators who want to maximize their earnings without relying on third-parties. The biggest upcoming trend is expected to be Microtransactions. That’s mainly because there are just way too many creators on the internet and all of them are offering a premium subscription of some kind on Patreon or similar platforms.
This has raised the competition but most importantly it has made the audiences less interested in paid subscriptions. It’s simply impractical to commit to a monthly subscription for each of their favorite creators (even if they want to support them). Microtransactions allow people to quickly send a request to a creator and get their desired content without obligations or hassles.
Paysenger is one of the first platforms to incorporate this monetization method. It makes it easy for your audiences to support you and for you to find new ways to monetize your content. Stay ahead of the curve! Join Paysenger before your competitors do.