How To Make A Hundred Grand Selling Online Video
When Joel Holland was in high school, he advertised a short piece of video he'd shot as an amateur videographer on eBay to see if it'd sell. Someone bit. Holland has since turned his hobby into a $100,000 business that sells professional-grade footage of everything from U.S. landmarks to international locations to erupting volcanoes via a Web site or over the phone.
But where competitors might charge $300 to $600 for 15 to 20 seconds of footage, Holland charges $149 for 30 to 60 minutes. His trick? He sells the reels in bulk form, and whatever shooting he can't do himself, he contracts out to his cadre of 26 professional videographers around the globe.
Holland quotes BBC Worldwide numbers, stating that stock footage is estimated to be a $300 million market and is poised to grow to $1 billion by 2010.
Even though he founded Footage Firm in 2001 and already counts Disney, ABC, CNN, Discovery, The History Channel, and E! among his clients, Holland has just started working with a consultant at Babson College to develop a strategic plan to grow into a $500,000 company within the next year.
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