Making money is pretty much what drives the majority of people working in the online video industry and so it’s important that you’re able to maximize the income from all that work you do when you create content. Now, Paya, has a new-ish way for you to get more money from your work. How are they doing that? Read on!
What is Paya?
It’s not an exotic fruit, that’s papaya. It’s more like “I wanna pay ya” I imagine, as in it’s time for you to get paid.
Paya is a new way to buy and sell digital content. You decide what to sell,
set your own prices, and keep 80%. Turn your existing video channels and social network into a store.
So, basically it’s yet another online marketplace to buy and sell digital content with a focus on video. However, the key differentiator is the fact that you can import content from Vimeo and YouTube (as well as flickr, facebook, and photobucket). Think something like istockphoto but for your video content. Another thing that separates it from other services is the fact that they give the creator 80% of the selling price which is higher than most creative deals where it’s usually 60/40 or 70/30 (rarely). Personally, as a creative type, I hate giving 30-40% to a service just for the right to list my content, yeah, I’m looking at you Amazon Kindle…
How Paya works for sellers
In a nutshell, sign up for an account, import your content and then for each piece of content set some data and pricing info like; title, description, tags, price, content use rules, additional licensing, and delivery file format info. Once the content has a price, it gets published and can start being purchased.
You can also set pricing profiles which are a set of default pricing scheme as well as licensing for certain uses. For example, some preexisting pricing profiles include citizen journalism, film & shorts distribution licensing, stock footage, etc. So say you have a couple different types of content you want to sell, you can group it up by pricing profiles and that will allow you to quickly add licenses and prices to the content. You can also do some quick batch processes like assign pricing to multiple videos, publish, unpublish and delete.
Buying Video Content on Paya
For buyers you can either find the content by searching on the Paya website or directly via their “Buy anywhere link” which allows you to put in an offer on content you watch on other sites.
- Use the search filters to find what you want on Paya.com
- Find content on sites like YouTube, Vimeo and Flickr; if the owner has listed them on Paya, click on the link to go to Paya and buy
- If you find content you are interested in not listed on Paya, you can create a Paya account and use the “I Wanna Paya” feature by selecting “Buy from Any Website” on the Manage Content menu; you’ll be able to plug in a link from any site and create a request to that content owner to buy that content
I have a life philosophy that stems from the 80/20 Pareto principle which, in a nutshell is that 20% of the work will achieve 80% of the desired results. The last 20% of desired results then require 80% of the total work, if I can do the normal amount of work I would anyway, and get an 80% return on it, I’m happy. Plus, I also believe that nothing is ever 100% in the universe except for death and even then, I’m skeptical. So really, the most I see I’m losing is 19% return (99-80), with just 20% of the total work load.
The fact that Paya gives out 80% to creatives means, I hope they expand to every creative media form available or I hope that the torch they are carrying gets picked up by other publishing services, content exchanges, etc and they all start paying content creators a better rate for the work done. Making $1 on something that is $25 retail means the creator is getting 4% return. Doesn’t 80% seem awesome now?