Philly based streaming platform Galxy, owned by the independent film and television distributor Invincible, launches a new initiative called the Galxy TV profit share. Galxy rewrote the streaming industry business model by providing its registered users with a profit share based on the amount of hours they watch. The company stated to Rockstars that their mission is to “provide its audiences with a free streaming service that enhances the viewing experience with minimal disruption from ads while simultaneously creating meaningful value for the audiences and advertisers”. As part of the new initiative, Galxy reinvests a portion of its revenue in its users and rewards them for being part of the platform.
There are a number of streaming platforms on the market. Most of them are subscription-based. However, the accessibility and affordability of those platforms vary, resulting in additional expenditures on household budgets. A recent survey reveals that 24% of households report paying for at least three more additional streaming services than they did one year ago and another 21% are now paying for two more streaming services. It also shows that subscription costs for streaming services per household are on the rise. Galxy intends to provide an alternative streaming platform that not only helps households save money but also pays them for watching their content.
“We decided that in a world where everything seems designed to take, it was time for a little giving. We believe that providing great content is paramount to a great streaming service, however our audiences are just as important to our success, and our success should be theirs. We have created a simple system to track and report our daily revenues to users, automatically paying 15% every month,” says Thomas Ashley, Founder and CEO of Galxy.
“We decided that in a world where everything seems designed to take, it was time for a little giving”Thomas Ashley, CEO
Apart from the paid-per-view initiative under ‘Galxy TV profit share’, the platform also pays its customers for sharing, rating and reviewing the content. Instead of spending huge amounts of money to promote its services, Galxy spends a part of that budget on its users, who help the platform promote its content.
“We promote ad-free sponsored content. Brands sponsor titles on Galxy without frequent advertisements, and when the show is over, brands offer the users rewards for watching. These can be coupons, discounts, and free samples, all available in their account or instantly by scanning a QR code. We have also changed how ads are viewed and displayed, creating far fewer ad breaks so audiences can enjoy an uninterrupted viewing experience,” Thomas added.
Galxy TV’s profit-sharing initiative levels the playing field by making streaming services accessible and affordable for many. In addition to that, providing ad-free content free of charge is an innovative advertising experience, creating more brand value and a better viewing experience for the audience.