The video production and distribution industry has undergone massive changes in recent years thanks to advances in technology and shifting consumer viewing habits. This disruption has opened up many new opportunities for creative entrepreneurs to launch video-based businesses. Here are some of the most promising new business ideas in the video space:
On-Demand Instructional Video Production
The market for instructional “how-to” explainer videos that teach a skill or provide a tutorial is surging. Entrepreneurs with video production skills can make money by working with clients like small businesses, nonprofits, schools, and individuals to produce high-quality, engaging instructional videos on demand. Topics are limitless, covering areas like software tutorials, cooking lessons, home improvement projects, arts and crafts, and more. These videos can be monetized on YouTube or sold to clients.
Live Streaming Funerals
Live streaming funerals is an emerging business concept that allows people to virtually attend memorial services for loved ones remotely. Companies like EventLive make it easy to provide professional live streaming services for funeral homes to broadcast memorial services through a private online channel for invitees. Family and friends who can’t attend a service in person due to distance or health issues can log on to watch the proceedings, hear eulogies, and participate in the service. There is a large potential market catering to far-flung families and friends who wish to honor the deceased. You don’t need expensive equipment and can start offering the service with the tools that you already have.
Corporate Event Videography
Recording video footage of conferences, conventions, and corporate events is a lucrative niche with a built-in clientele of businesses, organizations, and associations. Professional videographers can offer services like highlighting speakers with close-ups, capturing audience reactions, and editing footage into polished event recap videos. Most event hosts don’t have high-quality, in-house video production capabilities.
VR/360-Degree Video Production
Virtual reality (VR) and 360-degree video offers new creative opportunities for video producers. Clients are looking for compelling VR and 360-degree ads, travelogues, real estate tours, training videos, and other immersive content. Video entrepreneurs skilled in 360-degree camera work and VR post-production can provide these specialized services to ad agencies, tourism boards, realtors, and more.
Crowdsourced Video Content Libraries
Building niche libraries of stock video footage and then licensing that content is a proven business model. Entrepreneurs can leverage crowdsourcing by inviting niche videographers, from drone operators to nature footage shooters, to contribute quality clips for a licensing fee. Curating and managing the marketplace for long-tail video content provides ongoing passive income.
AI-Powered Video Editing Services
Advances in artificial intelligence are revolutionizing video editing. Entrepreneurs with AI expertise can train algorithms to automate tasks like editing raw footage, color correcting, adding graphics/animations, and more for clients. AI video editing services save customers time and money. Initial target markets include YouTubers, social media influencers, indie filmmakers, and advertisers that need high volumes of edited video content. Moreover, leveraging the best free video editing tool can amplify the capabilities of AI algorithms, enabling entrepreneurs to deliver professional-grade results without hefty software costs.
The video production industry will continue evolving with changing technologies and viewer preferences. Savvy entrepreneurs who identify emerging business opportunities and move quickly can stake their claim in these growth niches. The time is right for innovative thinkers to combine their video talents and creative vision into the next great video-based small business idea.
