Recently, I had a conversation with a friend of mine, who is a local media mogul. He was seeking my insights on how to make money from a sports TV channel. He has just set up a sports TV channel, and it is becoming very popular. So he was seeking for advice on how he would be able to make money from the channel, so as to make it self-sustaining. He explained that, presently, he is financing the channel from his own pocket – using his own money. So he was looking for ways to make it self-sustaining. I went on to give him three options, in terms of ways in which he could make money from the sports TV channel. I will be sharing the same with my readers in today’s article.
One way to make money from a sports TV channel is by selling advertising spots. If the sports TV channel is attracting many viewers, advertisers should be falling over themselves to have their ads run on the channel. But you do need to know how to auction the advertising spots. You do need to know how to get people to buy the advertising spots, and how to get them to pay the rightful amounts of money for the ad spots.
Another way to make money from a sports TV channel is by selling its content. This is where, for instance, you can have the cable TV networks pay you, so as to have your channel run on their platforms. If it is truly a good channel, cable networks will be only too happy to pay.
Yet another (albeit controversial) way to make money from a sports TV channel is by selling coverage. This is where you can have people paying money, in order to have their stories covered in the channel. Under this arrangement, the stories paid for wouldn’t be presented to the viewers as ads, but rather, as organic news. It is said that some of the top TV channels operate under this model, though the ethics of it can at times be questionable.