monetization

/,mʌnitai'zeiʃn/

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Monetization is a noun that refers to the process of converting something into money or making it available for financial gain. It can also mean turning an asset or resource into a source of income.

Simple Explanation:

When you "monetize" something, you find a way to make money from it. For example, if you have a blog or a YouTube channel, you can monetize it by displaying ads or selling products.

Usage Instructions:

• Monetization is often used in business and finance contexts. When using the word, think about how something (like a service, product, or idea) can be turned into a profit.

Example:

• "The company decided to monetize its mobile app by adding advertisements."

Advanced Usage:

In more advanced contexts, monetization can refer to strategies companies use to generate revenue from their products or services. For instance, startups often look for innovative ways to monetize their platforms to attract investors.

Word Variants:

• Monetize (verb): To make money from something.
  • Example: "The artist plans to monetize his artwork by selling prints."
• Monetizable (adjective): Capable of being monetized.
  • Example: "The new features are monetizable and can attract more users."

Different Meaning:

In economics, monetization can also refer to converting an asset, like gold or silver, into money that can be used as legal tender. This is less common in everyday conversation but is important in financial discussions.

Synonyms:

• Capitalization: Refers to the process of providing funds or resources for a business or project.
• Commercialization: The process of managing or running something to make a profit.
• Profitization: Although not commonly used, it conveys a similar idea of turning something into a profit-generating activity.

Idioms and Phrasal Verbs:

While there are no specific idioms or phrasal verbs directly related to "monetization," you might encounter phrases like: - "Cash in on": To take advantage of a situation to make money. - Example: "She decided to cash in on her photography skills by selling prints online." - "Make a profit": To earn more money than you spent. - Example: "The goal of the business is to make a profit by the end of the year."

Summary:

Monetization is an important concept in business that involves turning something into a source of income. It's applicable in various contexts, from apps and websites to physical products and services.

Academic

Noun

1. establishing something (e.g. gold or silver) as the legal tender of a country

Synonyms

• monetisation