Pricing: What the F%&K do I price my content at?
What do I price my content at?
Well, the short answer is... whatever you'd like. There are tons of pricing strategies you can try out and our best advice is to experiment and iterate. If something isn't working, change it and try again. With all that said, here's some data and guidance to help you get rolling.
The Average Price of Purchases across content types are below. We're showing you Purchased Content prices, not All Content, because getting your content purchased is the whole point, riiiight?
On-Demand Videos: $3.48
- Popular price points range from $1-$5
Live Sessions: $10.34
- Popular price points range from $5-$20
On-Demand Programs (Multiple Videos): $17.82
- Prices range widely, but the $20 price point is the most purchased.
Monthly Subscription: $17.72
- $15-$20 is a popular range for creators giving access to infrequent live sessions or large on-demand libraries/programs, while $50+ is popular when hosting consistent live sessions
If that's what you were looking for, great. You can stop right here. If you want to dig deeper into understanding what Pricing Model might be best for you, press onwards!
We're not here to tell you what your stuff is worth, but we know you wouldn't be reading this if you weren't curious. So the following are some tips, facts and considerations to help figure out what you should price your stuff at. Just remember this is more of an art than it is a science.
Your average boutique, in-person fitness class will typically cost anywhere between $20-40 USD with an average of $34 in large metropolitan cities like NYC or San Francisco.
1) Those incredibly high prices keep some people from doing fitness and wellness classes consistently, and keep even more people from doing them at all...
2) Price is the leading indicator of quality.
Not sure where they fall? Try something in between, and iterate as much as you can. Use your data - where is your revenue coming from? Your lowest priced classes? Highest priced? Shortest? Longest? If somethings working, do more of it.
Some other considerations:
The quality of your content may also be a determining factor in what to price your content. If you know that your broke out the big guns, whipped out the high-def camera, and did the editing to your liking - PRICE IT ACCORDINGLY.
You know what your time and effort is worth. If you worked really hard on your craft, price it like you're confident in it.
At the same time, if your footage was grainy and the audio fuzzy, but the exercise killer, drop the pricing.
It's also worth noting that if it's something that you just sort of threw together quickly and wanted to get out there, even if people do end up purchasing that content they might be dissatisfied with the offering and not come back later.
When deciding what to price of content individually, take time into account. It's hard to pack tens of dollars of value into a video that's only a few minutes long. For example, we've never seen a video that's under 10 minutes long be purchased for over 10 dollars. That is not to say it will never happen (it very likely will), but as it stands, it is not something to count on.
Subscriptions are better for all parties involved. From the User perspective, it makes the most sense to do if they plan on sticking around for a while. They get the best bang for their buck, they no longer have to worry about going through the process of purchasing videos every time and get access to a whole suite of benefits that they wouldn't otherwise.
For a Creator, it's the most consistent and recurring form of income for you to have. It's more security and consistency. With that in mind, you want to make your subscription offerings a better deal for the User to incentivize them to subscribe.
A good, quick example of this is as follows:
"Creator X prices their On-Demand content at $5, Weekly Subscription at 10$, and Monthly Subscription at $20"
If the User is a regular consumer of this Creators content it makes the most sense to continue with the Monthly Subscription.