Monetizing On-Line Media Access
Some companies and institutions consider the digitization of hundreds or thousands of videotapes as a straight-up expense that is not affordable. The big picture is that under the right circumstances the digitization of a videotape archive can become recurring multiple direct and indirect sources of revenue. A consultant can help put together a business plan that even the most conservative CFO would notice.
While it might cost over $100,000 to digitize an archive, licensing and royalties can generate revenue over time to cover that expense. Once the expense is covered, it then becomes a recurring revenue stream. When viewed in this light, the business paradigm is the same as any other investment. The opportunity is disappearing but with a small amount of "out-of-the-box" thinking it doesn't have to become a regretful loss. A digitized video file can't be licensed for use if it doesn't exist.
Licensing is a profitable business. The proof is that there are so many companies engaged in the business. Who are some of the big companies?
Take a look: stock.adobe.com/video ArtGrid.io FilmPac.com raw.film FilmSupply.com FilmHERO.com Pond5.com vimeo.com/stock pexels.com/videos shutterstock.com/video yayimages.com rocketstock.com dissolve.com storyandheart.com istockphoto.com/footage wedistill.io pixabay.com/videos videezy.com imp.i308085.net/NrL1v flickr.com/search fxo.co/9fAf motionelements.com bigstockphoto.com/video/search storyblocks.com/video 123rf.com/stock-footage clipstill.com (and many more...)
The list above demonstrates that a digitized video library can generate revenue and be a business. It doesn't guarantee anything, but the good news is that the internet facilitates searches for niche content. You could go through one of the many companies that offer licensing services, or you could set it up directly. Digitized footage is a product that has value and there are numerous ways to monetize it.
Where licensing the footage may not be possible, there are other returns for the investment of digitization. For example, reclaimed storage space. Once the footage is properly cataloged and digitized (at the appropriate quality) then the tapes no longer need to be stored and can be recycled.
Access Is Key
What is the value of a remote office having immediate access to online media? The act of finding and pulling a video from storage and putting it into a machine that may or may not play the tape... the reality is that this rarely happens. The logistics alone make that process prohibitive. Where content is digitized and made available online, a corporate executive could access and watch it on a smartphone while flying in a commercial airliner at 30,000 feet. That can have extraordinary value.