Monetization is THE hot topic around transmedia.
Everyone is talking about it, avoiding it and watching those who are taking the risks to see what works and doesn’t work. Interestingly enough, I have even heard someone claim that until transmedia can be monetized they will not use the term! Interesting, and unfortunate as the term is helping us navigate the changes in Hollywood.
Anyway, we must remember that transmedia is a HUGE term (and will eventually go away! – see Transmedia 101) reflecting the overall changing landscape of story telling and story consumption across multiple platforms and story experiences. So when we talk about monetization, transmedia itself will never be monetizable as a whole with one clear model that works for every story property. Each IP needs to be evaluated and a clear transmedia strategy built out based on the story and the audience.That said, each of the various IP story experiences can definitely be monetized on their own and ultimately make up the tapestry of monetization that is unique for each property.
3 Avenues to Transmedia Monetization
There are 3 main avenues for monetization of story experiences – 1) via traditional media, 2) via emerging digital distribution models and 3) story used for marketing & audience expansion. With these three basic streams, a unique IP transmedia strategy can be crafted to maximize engagement and revenue. Again, each IP should have it’s own unique transmedia/story experience strategy. What works for one property may not work for another. It all depends on the storyworld itself and the audience the story is made for.
The cool thing is we’re still figuring it out and together as we all continue to take risks, we will discover more and more what works and doesn’t work. What do you think of transmedia & monetization? What models do you see emerging as leading paths to generating revenue? Leave your ideas in the comments section and let’s share information and discuss together this great unknown in the future of storytelling!