Videos are actually licensed. Video providers give perpetual usage licenses to News Channels to use uploaded videos for a fee. Streampax collects this fee and credits it to the provider’s bank account.
How News Videos are bought and sold through Online Marketplace?
There are thousands of video providers who offer news videos onto streampax. News TV Channels search and find interesting videos from these collection. Once TV Channels identify newsworthy videos, they opt to buy and download those videos. This is how News Videos are bought and sold through Online Marketplace.
To buy and download a video, TV Channel has to pay the charges for it. Video providers mention their charges for the videos. TV Channels can pay the fee if they are agreeable for it.
There is an in built e-wallet for each and every TV Channel. They put money in the wallet in advance to pay for buying videos. Once they select a video, TV Channels transfer this money to Video Providers.
Streampax takes responsibility for transferring funds to video providers. The charges will be credited to the passbook of video provider and the sum total of the payment for video provider will be sent to the him on fixed time intervals.
The term Selling or Buying, is actually a licensing process. It is a transfer of Perpetual License for usage of the concerned video.
Many TV Channels can buy the same videos. The license is to allow the TV Channels who bought the videos to use it for their programs. This is a transfer of permanent user rights for TV Channels.
TV Channels get absolute rights to edit and use the videos for their programs; but they can not resell the videos to anyone.