The PDF revenue statement reports we have sent out in previous months will now be a thing of the past. The new Insights reporting dashboard allows us to provide the figures and therefore the revenue shares earlier each month moving forward.
You can now simply invoice using the revenue share figure which is made available through the dashboard reporting each month moving forward and continuing to submit them to firstname.lastname@example.org.
It’s important to recognise that the revenue share is based on time spent, not enrolments. As an aggregator, and Go1 Premium being a subscription service, the way the revenue share functions on % time spent in any given billing period, means no two months are likely to be the same on a dollar value per minute spent. Factors such as;
Revenue in the Pool for the period will change month to month
Number of providers being engaged with will shift
Usage, and therefore total minutes consumed will differ between periods, leading to varying revenue shares and $ value per minute will change.
Please note that at the moment we are seeing fluctuating usage patterns as a result of COVID-19, which may be causing some additional volatility.
Instead of waiting for a report from Go1 in week 3 or 4 of the following month, you can now simply access the Insights reporting dashboard and draw up an invoice using the Revenue Share figure for the period in question, in week 1, possibly 2 of the following month. Send it through to email@example.com, and it will be paid as per normal.
Go1 Premium is a subscription-based model, providing organisations access to the whole Premium library for a simple price per user. We pay content partners based on time spent for the month previous.
We take the sum of all of our Go1 Premium Subscription Revenue, and this forms the revenue pool for the period. This is then divided between all content partners who had any consumption in the period, using the percentage of consumption each provider had against the whole. The agreed revenue share percentage is applied, calculating the revenue to be paid to each content partner (in AUD). We then apply the current exchange rate for any alternate currencies, in the first week of each month, forming the final revenue figure to invoice, native to each partner.
To use an example, and display the steps;
If in a month, the subscription revenue pool equals $100,000 AUD
Time spent in your training for the month equates to 7% of total global consumption
The base share becomes $7,000. This is then multiplied by the agreed revenue share.
If this were 50%, the actual share to your organisation becomes $3,500.
This is multiplied by the current exchange rate at time conversion (first week of each month)
Final figure presented in Native Currency (whether that be AUD/USD/GBP etc for you) via the Insights dashboard
You simply generate an invoice using the available figure, and send to firstname.lastname@example.org
The primary point of consideration is the subscription business model vs pay per use. Here is a helpful article that helps explain the difference between the two models, and helps explain the benefits of the subscription type (https://www.go1.com/blog/the-benefits-of-subscription-based-streaming-for-learning-content-creators).
The second is, that Go1 Premium is subscription-based access to a library of content which our audience reach of millions of learners can pick and choose content that they feel best fits their training requirements. This means there is no customer acquisition cost for our content partners, making Go1 a passive revenue stream for content creators like yourself. There should be minimal if any costs from your side pertaining to the Go1 relationship, against which you receive a monthly payment in accordance with the agreed revenue share across the Premium revenue pool based on % time spent in your content.
The best part, if you’re a Go1 content partner, no more worrying about hosting, enrolment or distribution fees, you can have unlimited users or customers go through your own branded Go1 Portal, at no cost. The benefits of ‘Powered by Go1’ allows you to host your content on a Go1 portal, and market or drive your customers to your content through your own branded Go1 portal. You can provide quick access if they pay outside of Go1, or even makes sales through the portal, of which 100% of the proceeds go to you.