The digital download industry offers multiple opportunities for businesses to earn revenue. Many different types of products can be sold in digital format. Among the products, you can sell ebooks, audio files, video files, and printables. Here’s everything you need to know about digital downloads and starting a digital download business.
What is a digital download?
Digital downloads are documents, software packages, and files that are acquired in an electrical format. The downloads are conducted over the internet, through a USB device, or on a network. Today, companies offer digital downloads to customers in the form of software packages, files, and documents. You can choose to offer some downloads for free and offer other downloads after payment is made. As mentioned earlier, businesses have many different products they can sell. Here’s a more detailed look at a few of the common ones.
Whether your business relates to music or literature, there are multiple ways you can sell audio files as a digital product. All it takes is recording, editing, and then uploading. One example you can do this is through music. Your business can sell original songs or remixes. One of the most common audio files sold today is audiobooks. In 2018, US publishers reported $940 million in sales. It was a 24.5% growth from the previous year. In addition to audiobooks, a business can also profit off of selling podcasts and ringtones. In particular with podcasts, companies offer some episodes for free and then offer premium episodes that require listeners to make a payment.
One of the simplest ways to sell digital products is through eBooks. Putting one together can be done at a relatively low cost in comparison to other products. All it takes is having some Microsoft Office software in order to create a PDF. You can also make use of stock pictures to give your eBook a nicer look through free or paid stock image services. Companies will sometimes give eBooks away for free in exchange for e-mails and other forms of contact to do further marketing.
Videos have grown in popularity since the rise of YouTube. Businesses are earning revenue by selling downloads of video products in many ways. One example of this is tutorials. Many people learn best through seeing visual demonstrations of how to do something. A business can use their expert knowledge on a particular industry to sell video tutorials that give helpful knowledge on specific practices. An example would be the technology industry. A technology company can sell tutorials on how to install or use certain software. In addition to video tutorials, companies can sell exclusive video content, such as interviews with high profile influencers in your niche, recordings of exclusive conferences, or short films.
Businesses can take advantage of the digital download industry in many ways. It’s important to do as much research as you can to determine which digital download format would be best for your business to utilize. Make sure you’re also aware of all the risks before getting into the business of digital downloads.