If you have started your journey to launch your own video on demand platform, then this article is for you.
Viewers’ choice to consume video content has transitioned to digital streaming services. Today digital streaming is used as a means to showcase their favorite movies and other shows. This is the reason that there are multiple platforms in the market and determining which is the best for your business could be a challenging task.
So that is why in this article we aim to guide you into all about VOD platforms so that you can understand what features you would require in order to get the expected results for your business.
How is a video on demand trending?
The global video on-demand market is expected to increase to USD 257.59 billion by 2029 with a CAGR of 17.6%. And among the various VOD models, the subscription-based VOD model is likely to take the lead.
The increase in viewers for live streaming has been paving way for the demand in live streaming. Users are more inclined to view live streaming than any other type of content, making live streaming one of the most powerful ways to offer immersive content.
Changing streaming options and faster internet connections has caused a high demand for digital media devices. This allows customers to have remote access to media content.
And live video streaming has several advantages over traditional TV. This includes access to ad-free content, browsing, tracking analytics, accommodating a huge audience and having high-quality streams.
Benefits of building your own VOD platform
Customization options for branding and design
Customizing your platform can be optimized through the SAAP model. Doing so helps you build your brand identity and create a unique entertainment solution.
Full control over content and platform features
If you have a beauty platform, then it should be customizable and controllable by you at all times. You must be able to modify your content whenever you prefer. You can choose to do that with your view, the platform whereby you can choose the server you want. You can either have cloud hosting on your server or on-premises service.
No revenue sharing with third-party platforms
Flexible, VOD platforms can generate a higher ROI. And it can be streamlined across all types of VOD models, such as subscription, transactional and ad-based models. You can do this to add these revenue models using a third-party integration. Still, third parties aren’t expected to share your revenue.
Ability to build a unique user experience
With VOD platforms, you have the option to customize and have complete control of your content. Additionally, you have the ability to build a unique user experience because you can standardize content based on the preferences of your target audience, even those that pertain to certain geographical locations.
Potential to earn higher revenue compared to third-party platforms
Third-party platforms are useful to some extent, but come with a high price tag, but with VOD, you can customize the payment options and the content that you offer. With comprehensive benefits, \VOD platforms have the potential to earn a higher ROI, which is comparatively higher than third-party platforms.
Technical considerations when building a VOD platform
Content management system
The video content management system is absolutely essential in the VOD platform because it allows you to streamline your video content management. It also makes it easy to share via digital media with your customers.
With the content management system, you can segregate your content according to the playlist and video types and then tag using metadata.
This helps you organize your video content library. Also having the best video content management system helps you to add features like analytics and reporting to understand user behavior.
Video encoding and delivery
Video encoding is essential as it allows easy transmission of your video content via the internet. encoding and video streaming is important because compressing the video reduces the bandwidth making it easier to transmit while also enhancing the quality of the video.
Without compressing, the original band would be inadequate to be transmitted and it will prevent deploying appropriate video playback services.
Payment gateway integration
Incorporating payment gateway integration into your VOD platform, allows your subscribers to choose the subscription based on their preferences.
Offering various payment options facilitates the viewers to choose their favorite payment method and enabling a secure payment gateway improves the customer experience to a greater extent.
Analytics and reporting features
As we’ve already discussed the importance of analytics and reporting features in your video platform . We also emphasized here that analytics and reporting are crucial to your video platform. These features help you analyze the behavior of your users. What are your preferences or what do they like and dislike? This will help you to put together appropriate content that is suitable for a target audience in a particular geographical location.
The data that you obtain from analytics and reporting features will help you to make better content and to constantly improve the performance of your VOD platform.
We have given you all the necessary features an Ideal VOD platform should have. And we have listed out the various benefits that it will have. Developing a video-on-demand platform on your own will be the best option.
With a promising future for the VOD platform, you have to consider these benefits and include the features like a sound content management system and video encoding along with analysis.
Technology integration and research are essential to building your own VOD platform. A white label platform service can offer you 100% customization and help you develop a VOD solution according to your preference.. In VOD, user experience is the focus, and you can monetize the content with various subscription models that also offer deeper insights into user behavior.