What does the future hold for video producers and how do I make money producing videos
Making money with film or video always depends on the general conditions that your business environment offers you. This article shows possible scenarios you may need to prepare for in the future.
You cannot swim without water. Neither is it possible for you to be on the road for work without moving in a market. Even if you do everything right, the development of a market can make your soup too salty. If you work professionally and professionally in the film business and if you want to make good money in the future too, you have to think about where you can go.
This applies to free markets in which commissioned producers are active with real or non-genuine commissioned productions, as well as to the highly subsidized feature film business.In this article, we will show you four different scenarios that alone or together could shape the market for electronic media in the future.
Making money by making videos or film: what does the future hold?
The article series on money and careers in film has 4 parts. They are all concerned with the question of how you can make good money in the film business in a fair way:
- Basic knowledge: how, where and when do I earn money with film and video?
- How do I optimize my service or my product in order to earn more money with it?
- How do I market my performance or my skills?
- Where is the market today? Where is it developing?
This fourth part of the article is about the most difficult aspect of making money with video or film: the economic framework conditions that your environment puts on your eyes. In contrast to the services you offer or in competition with your competitors, you can only influence the rules of the game to a very limited extent here.What you have learned so far as a clever mind about making money
You need to learn that not every problem that you can solve for your customer is actually his problem from the customer’s point of view. Your quality can be 100 times better, if the customer is satisfied with the existing quality of his videos (or there is no budget to increase the quality) you can jump in the square and you will still not make any money.
If you want to make more money, you need new customers.Here you will learn why target groups are essential for your success, how you communicate where, what the yo-yo effect is for video producers and why you should always think in terms of sequences (i.e. more than just one measure) in marketing.
Market changes: I’m helpless anyway!
The first and most important message for you: Wrong! You can do something. Just because you swim in the sea and the current changes or the water temperature cools down, you are by no means lost.But only under one condition.
You have prepared for the change and have a plan for it. If you jumped headless into the water as a non-swimmer: your fault! .It is part of your professional duties to prepare and have a concept for anything you can imagine. And for what you can’t imagine, too.
First, you need a radar system. This enables you to recognize developments early on. A radar system can be conversations with other industry participants, membership in professional associations, exchanges with your customers and, above all, the ability to constantly think about what is changing for you in your job and why.
Second, you and your organization need the will to change. Many changes are recognized, but they are either so frightening or radical that they are denied instead of accepted.
Making money by making videos is like being on the highway:
If you miss the last possible exit to the next gas station when the tank is empty, you will fall by the wayside! Conversely, you don’t want to stop at every single gas station every few kilometers just because you’re afraid that you won’t be able to find any fuel later. But unlike on the motorway, there are no signs or automatic navigation systems in the electronic media.
Scenario 1: The midfield disappears
The rich get richer, the poor get poorer. A tendency towards this can also be identified when making money with moving images. The midfield is dying away. There are only two types of providers left in the free market. One group is small and highly specialized, is one of the best and operates nationally or internationally at a level where competence, experience and talent can hardly be beaten.
Because the market is getting tougher, many experts from the video business have switched to clients and agencies. They know from their own experience that the price-performance ratio is neither a problem for top providers nor for the low-end sector. But always only in midfield.
On the other side of this development is the fact that your career will no longer be parked in midfield for three days. You make it to the top. Or not. In both cases, you no longer waste half your professional life with unrealistic dreams.
Scenario 2: automation as an opportunity
More and more processes are being taken over by software. Digitization in image processing or during recordings, for sound or voiceover, is making great strides. Thanks to artificial intelligence, Adobe Premiere automatically creates a first cut version, automatically adds audio tracks to the image and corrects colors. The editor is now also a sound engineer and graphic artist and mostly also a realizer.
Even if the industry is driving its own downfall when it comes to making money, because it is making filmmaking easier and more attractive for customers, it likes to and unconsciously push automation forward as a beta tester itself. Ultimately, at least in the short term, you can increase your own margin and extend survival a little.
Automation also creates new opportunities and professions. Not in the traditional professional groups, but for qualified professionals. At the same time, film is freed from the curse of technology forever with digitization. Without this ballast, what has always been the recipe for success for moving images emerges again: storytelling.
YouTube, Facebook and Co. making money
What is the purpose of YouTube, Facebook, Google, and other players that rely on the power of video? Make money! And how do you make more money when you have grown up as a video platform, marketing platform or portal for social media and you realize that videos are the future? Paying customers and free users are offered the opportunity to produce videos for them and also to market them at the same time.
Everything from a single source! Because you don’t have to earn twice in the start-up phase or in the displacement battle, but want to gain market share and acceptance, the prices are kept attractive. So deeper than an independent video production. Because Facebook, Google / YouTube or Amazon know infinitely more about user behavior based on their own data ,these videos are also more effective.
Fit the target group like a fist on the eye. The conversion rate is impressive. The offer to obtain integrated marketing campaigns including video content from a single source is convincing and makes sense for the client. The “normal” video producer, as the world knew him until 2020, suffocates.
Feature film and public TV
The European feature film business is highly subsidized. No feature films without government funding. Feature film funding is cultural funding or economic funding. Because tax money is involved, (unlike in the free market), when the funds are allocated, strict attention is paid to fair compensation. The focus here is on quality. This should be bought at market prices, but not at dumping prices as in the order film.
This also applies to non-private TV providers such as ARD, ZDF, ORF (Austria) and SRF (Switzerland). Here too, the rules of predatory capitalism only play a limited role when making money . At least in the medium term. Feature films and TV productions play in the same market as their private competitors. Even if the cultural scene and the public service are always politically shaped, changing market conditions also have an influence on these genres in the long term.
What is the scenario for making money by making video?
Anyone who claims that they can create trends and forecasts with a probability bordering on certainty is not serious. But assumptions and scenarios help to prepare for possible developments. Just because we at Filmpuls, as an industry participant, are shaped by our current market environment doesn’t have to be the truth.
All of the scenarios mentioned in this article can coincide. Or none of them. Or only parts of individual forecasts. Think about what we said. But don’t let that take away the joy of working with video. Because as a professional you have long known: in film as in life (almost) everything is possible.
Your experience counts!
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